Categories: News
| On
2023-12-09 8:01 AM

Trellidor Triumphs: Shareholder Rally and Board Shake-Up Propel Security Giant into a Robust Future

  • AGM Success: Trellidor Holdings' AGM saw resounding shareholder approval, with key resolutions passing overwhelmingly, reflecting confidence in the company.
  • Board Changes: Mark Olivier, an independent non-executive director, officially retired after the withdrawal of his re-election resolution at the AGM.
  • Future Outlook: Shareholders' confidence in the company's direction signals a positive outlook, reinforcing Trellidor's commitment to transparent governance.
By Lethabo Ntsoane

Trellidor Holdings Limited recently conducted its Annual General Meeting (AGM) on Thursday, 7 December 2023. Shareholders participated in the meeting entirely through electronic communication, and the results have brought notable changes to the company’s board.

Resounding Support for Key Resolutions

At the heart of the AGM were crucial resolutions that garnered significant attention from shareholders. Notably, all resolutions, with the exception of two, received overwhelming support.

Withdrawal of Resolutions 1 and 4

Ordinary resolutions numbers 1 and 4, which pertained to the re-election of Mark Olivier as an independent non-executive director and as a member of the Company’s audit, risk, and compliance committee, were withdrawn at the AGM.

Highlights of Approved Resolutions

ResolutionVotes For (%)Votes Against (%)Total Shares VotedShares Voted (% of Issue)Abstained (% of Issue)
Re-appointment of PKF as Auditors99.980.0258,816,23561.780.07
Re-appointment of Ralph Patmore80.3919.6158,816,23561.780.07
Re-appointment of Stuart Bird99.980.0258,816,23561.780.07
Non-binding Advisory Vote on Remuneration Policy99.980.0258,816,23561.780.07
Non-binding Advisory Vote on Implementation Report99.980.0258,816,23561.780.07
General Authority to Issue Ordinary Shares for Cash85.5614.4458,816,23561.780.07
Authorize Director or Secretary to Action Resolutions99.980.0258,816,23561.780.07
Approval of Non-Executive Directors’ Remuneration99.980.0258,816,23561.780.07
Share Repurchases by Trellidor and its Subsidiaries99.980.0258,816,23561.780.07
Inter-company Financial Assistance99.980.0258,714,58061.670.18
Financial Assistance for Share Subscription or Purchase99.980.0258,714,58061.670.18

Notable Board Changes

In line with an earlier announcement on 29 November 2023, Mr. Mark Olivier, an independent non-executive director, officially retired from the board. The resolution for his re-election was withdrawn, and the Board has now confirmed his retirement, effective immediately after the AGM.

Shareholders’ Views and Future Prospects

The resounding approval of key resolutions reflects shareholders’ confidence in the company’s direction. The withdrawal of certain resolutions, particularly Mr. Olivier’s re-election, marks a significant change in the board’s composition.

Trellidor Holdings remains committed to transparent governance, evident in the high level of shareholder approval for resolutions related to audit, risk, and compliance.

Conclusion

As Trellidor Holdings forges ahead into the future, the AGM results underscore a positive outlook. Shareholders have expressed confidence in the company’s leadership and strategic decisions. The withdrawal of resolutions and Mr. Olivier’s retirement shape a new chapter for Trellidor, one that is poised for continued growth and success.

Join Our Newsletter
Subscribe to our newsletter and stay updated.

Sponsored

Start trading with a free $30 bonus

Unleash your trading potential with XM—your gateway to the electric world of financial markets! Get a staggering $30 trading bonus right off the bat, with no deposit required. Dive into a sea of opportunities with access to over 1000 instruments on the most cutting-edge XM platforms. Trade with zest, at your own pace, anytime, anywhere. Don't wait, your trading journey begins now! Click here to ignite your trading spirit!

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