Resilient REIT’s AGM Sees 100% Approval on Key Resolutions with 76.52% Shareholder Participation

  • Strong Shareholder Participation: 76.52% of eligible shares were represented at the AGM.
  • Unanimous Approval: All resolutions, including director appointments and financial policies, received overwhelming support.
  • Financial Assistance Notification: Board authorized significant financial assistance to related and inter-related companies.

Resilient REIT Limited announced the results of its Annual General Meeting (AGM) held on June 20, 2024. Shareholders approved all resolutions presented during the meeting.

Meeting Attendance and Voting Breakdown

Shareholder Participation

Shareholder engagement was strong, with 76.52% of the eligible shares represented at the AGM. The company had 365,204,738 shares in issue, with 335,048,697 shares eligible to vote after excluding 30,156,041 treasury shares.

Meeting Attendance Table

DescriptionNumber of SharesPercentage (%)
Shares in Issue365,204,738100%
Eligible Shares335,048,69791.73%
Shares Represented at AGM256,392,48076.52%

Director Appointments and Re-elections

Ordinary Resolution 1: Appointment of Barry Stuhler

Barry Stuhler was appointed as a director with overwhelming support.

  • For: 98.22% (251,256,948 shares)
  • Against: 1.78% (4,550,265 shares)
  • Abstentions: 0.16% (585,267 shares)

Ordinary Resolution 2: Re-elections

Alan Olivier, Stuart Bird, Thando Sishuba, and Barry van Wyk were re-elected as directors.

Director Re-elections Table

DirectorFor (%)Against (%)Abstentions (%)
Alan Olivier94.425.580.16
Stuart Bird99.820.180.16
Thando Sishuba98.381.620.16
Barry van Wyk76.0823.920.16

Audit Committee Members

Ordinary Resolution 4: Re-election of Audit Committee Members

Protas Phili, Stuart Bird, and Des Gordon were re-elected as members of the Audit Committee with substantial support. Barry Stuhler was newly elected with a lower margin.

Audit Committee Re-elections Table

MemberFor (%)Against (%)Abstentions (%)
Protas Phili99.770.230.16
Stuart Bird99.830.170.16
Des Gordon99.830.170.16
Barry Stuhler71.8628.140.16

Financial Matters

Ordinary Resolution 5: Appointment of Auditors

Shareholders voted almost unanimously for the reappointment of the company’s auditors.

  • For: 99.99% (255,791,107 shares)
  • Against: 0.01% (16,106 shares)
  • Abstentions: 0.16% (585,267 shares)

Ordinary Resolution 6: Authority to Issue Shares for Cash

The resolution to grant the board authority to issue shares for cash was approved.

  • For: 97.93% (250,509,366 shares)
  • Against: 2.07% (5,293,292 shares)
  • Abstentions: 0.16% (589,822 shares)

Remuneration Policy

Non-Binding Advisory Votes

Shareholders endorsed both the Remuneration Policy and the Remuneration Implementation Report.

Remuneration Votes Table

ResolutionFor (%)Against (%)Abstentions (%)
Remuneration Policy84.3215.680.16
Implementation Report87.0612.940.16

Special Resolutions

Financial Assistance

The approval of financial assistance to related and inter-related companies passed with a strong majority.

  • For: 99.24% (253,858,339 shares)
  • Against: 0.76% (1,948,874 shares)
  • Abstentions: 0.16% (585,267 shares)

Share Repurchase

The resolution to repurchase shares received significant support.

  • For: 90.27% (230,926,020 shares)
  • Against: 9.73% (24,881,193 shares)
  • Abstentions: 0.16% (585,267 shares)

Non-Executive Directors’ Fees

Resolutions to authorize non-executive directors’ fees and fees for special committee meetings were also approved.

Non-Executive Directors’ Fees Table

ResolutionFor (%)Against (%)Abstentions (%)
Directors’ Fees89.5310.470.16
Special Committee Fees99.160.840.16

Implementation Authority

Ordinary Resolution 7

This resolution granted authority to directors or the company secretary to implement the approved resolutions.

  • For: 100.00% (255,807,213 shares)
  • Against: 0.00%
  • Abstentions: 0.16% (585,267 shares)