In a display of confidence in the leadership and direction of The SPAR Group Limited, shareholders gathered for the Annual General Meeting (AGM) on February 21, 2024, where a series of resolutions were put forth and overwhelmingly approved.
Director Appointments
The AGM saw the confirmation of several key appointments to the Board of Directors. Shirley Zinn, Pedro da Silva, Trudi Makhaya, Angelo Swartz, Megan Pydigadu, Marie Jamieson, and Liesbeth Botha were all confirmed as directors, with approval rates ranging from 98.39% to 100%. Shareholders expressed overwhelming support for these appointments, indicating confidence in the expertise and leadership these individuals bring to the company.
| Director | Approval Rate |
|---|---|
| Shirley Zinn | 99.72% |
| Pedro da Silva | 99.95% |
| Trudi Makhaya | 99.94% |
| Angelo Swartz | 98.39% |
| Megan Pydigadu | 99.93% |
| Marie Jamieson | 100.00% |
| Liesbeth Botha | 100.00% |
Re-elections and Auditors
The re-election of non-executive directors Lwazi Koyana and Sundeep Naran garnered strong support, with both receiving approval rates of over 99%. Additionally, the re-election of PricewaterhouseCoopers Inc. as the independent external audit firm, along with the re-appointment of Thomas Howatt as the designated individual audit partner, were approved with rates of 97.09% and 97.26% respectively.
Audit Committee and Share Issuance
Shareholders also voted in favor of electing members to the Audit Committee, with all candidates receiving approval rates above 99%. Furthermore, the authority to issue shares for The SPAR Group Limited Conditional Share Plan was granted with an approval rate of 79.82%.
Remuneration and Special Resolutions
In non-binding advisory votes, shareholders expressed support for SPAR’s remuneration policy, with a 91.25% approval rate, and the remuneration implementation report, with a 80.44% approval rate. Additionally, special resolutions concerning financial assistance to related parties and non-executive directors’ fees were approved with rates of 94.54% and 85.45% respectively.
Shareholder Confidence
The overwhelming approval of these resolutions reflects the confidence shareholders have in SPAR’s strategic direction and governance framework. The strong support for director appointments, re-elections, and other resolutions underscores the commitment of shareholders to the long-term success and sustainability of the company.
