Heriot REIT AGM Triumph: Shareholder Unity Sparks Strategic Confidence

  • Overwhelming Support: Shareholders unanimously approved all resolutions at Heriot REIT's AGM, reflecting robust confidence in company decisions.
  • High Attendance: 95.09% of total shares participated in the meeting, emphasizing significant shareholder engagement and commitment.
  • Strategic Approval: Approval of key resolutions, including financial statements and director appointments, signals a united front in Heriot's strategic direction.
By Lethabo Ntsoane

Heriot REIT Limited shareholders gathered for the Annual General Meeting (AGM) on December 6, 2023, and the outcomes revealed unanimous approval for all resolutions on the agenda. The company, registered in the Republic of South Africa, provided a comprehensive breakdown of the voting results in an official statement.

Key AGM Details

  • Shareholder Participation:
    • Total shares in issue: 256,295,858
    • Shares present/represented at the AGM: 242,855,398 (95.09% of total shares)

Resolutions Pass with Overwhelming Majority

All resolutions presented at the AGM received approval from the requisite majority of shareholders, emphasizing a unified stance on crucial matters.

Adoption of Annual Financial Statements (Ordinary Resolution 1)

MetricResult
Shares Voted242,855,398 (95.09%)
Votes For242,855,398 (100%)
Votes Against
Abstentions

Re-election of Non-Executive Directors (Ordinary Resolutions 2.1, 2.2, 2.3)

DirectorResult
Selwyn Joel Blieden242,855,398 (100%)
Nelson Abram Ngale242,855,398 (100%)
Robin Lockhart-Ross242,855,398 (100%)

Audit and Risk Committee Appointments (Ordinary Resolutions 3.1, 3.2, 3.3)

Committee MemberResult
Selwyn Joel Blieden242,855,398 (100%)
Nelson Abram Ngale242,855,398 (100%)
Robin Lockhart-Ross242,855,398 (100%)

Re-appointment of Auditor (Ordinary Resolution 4)

MetricResult
Shares Voted242,855,398 (95.09%)
Votes For242,855,398 (100%)
Votes Against
Abstentions

Non-Binding Advisory Resolutions

Both non-binding advisory resolutions, covering the approval of the remuneration policy and implementation report, secured overwhelming support.

Approval of Remuneration Policy (Non-Binding Advisory Vote)

MetricResult
Shares Voted242,855,398 (95.09%)
Votes For242,855,398 (100%)
Votes Against
Abstentions

Approval of Remuneration Implementation Report (Non-Binding Advisory Vote)

MetricResult
Shares Voted242,855,398 (95.09%)
Votes For242,855,398 (100%)
Votes Against
Abstentions

General Authority and Special Resolutions

The shareholders also granted general authority for the issuance of shares for cash, approval of documentation signatures, and passed special resolutions related to non-executive directors’ fees, general approval to acquire own shares, and loans or financial assistance to related companies.

General Authority to Issue Shares for Cash (Ordinary Resolution 5)

MetricResult
Shares Voted242,855,398 (95.09%)
Votes For242,855,398 (100%)
Votes Against
Abstentions

Signature of Documentation (Ordinary Resolution 6)

MetricResult
Shares Voted242,855,398 (95.09%)
Votes For242,855,398 (100%)
Votes Against
Abstentions

Special Resolution 1: Non-Executive Directors’ Fees

MetricResult
Shares Voted242,855,398 (95.09%)
Votes For242,855,398 (100%)
Votes Against
Abstentions

Special Resolution 2: General Approval to Acquire Own Shares

MetricResult
Shares Voted242,855,398 (95.09%)
Votes For242,855,398 (100%)
Votes Against
Abstentions

Special Resolution 3: Loans or Other Financial Assistance to Related Companies

MetricResult
Shares Voted242,855,398 (95.09%)
Votes For242,855,398 (100%)
Votes Against
Abstentions

The AGM results showcase a high level of shareholder support, underlining confidence in Heriot REIT Limited’s strategic direction and governance. The resolutions’ overwhelming approval reflects a consensus among shareholders on the company’s future path.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo