Successful AGM for KAL Group Limited: Shareholders Approve All Resolutions

  • KAL Group Limited's AGM saw unanimous approval of all resolutions, reflecting strong shareholder confidence and support.
  • Shareholders voted overwhelmingly in favor of key measures, including auditor appointment and director re-election.
  • The successful AGM, held in Paarl with PSG Capital sponsorship, highlights KAL Group's commitment to transparency and governance.
SOUTH AFRICAN LEGISLATIVE SECTOR HOSTS DEVELOPMENT SEMINAR

KAL Group Limited, formerly known as Kaap Agri Limited, celebrated a triumph at its Annual General Meeting (AGM) held on Thursday, February 8, 2024, at the Grande Roche Hotel in Paarl. Shareholders convened to vote on various resolutions, and the outcomes reflected overwhelming support for the company’s proposed measures.

Unanimous Approval of Resolutions

Shareholders demonstrated their confidence in the company by approving all resolutions proposed at the AGM. This display of unity underscores the shareholders’ belief in KAL Group’s strategic direction and leadership.

The following table provides a summary of the resolutions and their respective voting results:

ResolutionVotes For (%)Votes Against (%)Total Shares VotedAbstained (%)
Appointment of Deloitte as the Auditor97.122.8837,058,0670.03
Re-election of Dr. EA Messina as Director99.960.0437,058,0670.03
Re-election of Mr. GM Steyn as Director92.627.3837,064,2450.02
Re-election of Mr. I Chalumbira as Director1000.0037,058,0670.03
Re-appointment of Mr. CA Otto as Member of Audit and Risk Committee91.838.1737,064,2450.02
Re-appointment of Mrs. D du Toit as Member of Audit and Risk Committee98.341.6637,058,0670.03
Re-appointment of Ms. B Mathews as Member of Audit and Risk Committee1000.0037,058,0670.03
Appointment of Mr. JH le Roux as a Member of Audit and Risk Committee93.536.4737,064,2450.02
Non-binding endorsement of KAL Group’s remuneration policy88.3111.6937,040,4610.05
Non-binding endorsement of KAL Group’s implementation report on the remuneration policy91.478.5337,058,0670.03
General authority to issue ordinary shares for cash93.436.5734,949,1422.87
Approval of non-executive directors’ remuneration98.331.6737,057,5860.03
Share repurchases by the Company and its subsidiaries98.781.2237,058,0670.03
Inter-company financial assistance1000.0037,058,0670.03
Financial assistance for the subscription and/or purchase of shares in the Company or a related or interrelated company95.974.0337,057,5860.03

Conclusion

The resounding endorsement of all resolutions at KAL Group Limited’s AGM signals a unified vision among shareholders and underscores the company’s commitment to excellence. With a clear mandate from its investors, KAL Group is poised to navigate the future with confidence and drive sustained growth and success in the [industry] sector.

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