28 Jul - 5 min read

Results of the Annual General Meeting of Altron held on 28 July 2021

Results of the Annual General Meeting of Altron held on 28 July 2021

ALLIED ELECTRONICS CORPORATION LIMITED
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
(“Altron” or “Altron Group” or “the Company”)
RESULTS OF THE ANNUAL GENERAL MEETING OF ALTRON HELD ON 28 JULY 2021

Shareholders are advised that the results of the business conducted at the Altron annual general
meeting held through electronic communication on Wednesday, 28 July 2021 are as follows:

 Total number of issued shares                                                        404 350 719
 Number of ordinary shares                                                            372 063 251
 Percentage of voteable ordinary shares represented at the meeting                         90.34%

 Total number of shares represented (including proxies) at the meeting                372 063 251

 Treasury Shares excluded from voting                                                      32 287 468

Annual financial statements
The annual financial statements of the Company, incorporating the external auditor, audit committee
and directors’ reports for the year ended 28 February 2021, were presented to shareholders.

Details of the results of voting at the annual general meeting are as follows:

 Resolution                          Votes cast             Number of       Shares voted     Shares
                                     disclosed as a         Shares Voted    disclosed as     abstained
                                     percentage of the                      a percentage     disclosed
                                     total number of                        of the total     as a
                                     shares voted at the                    voteable         percentage
                                     meeting                                shares           of the total
                                     For       Against                                       issued
                                                                                             shares

 Ordinary resolution number 1.1:     89,20%      10,80%     332 443 619        89,35%           0.91%
 Re-Election of non-executive
 director - Mr RE Venter

 Ordinary resolution number 1.2:     100,00%      0,00%     336 107 542        90,34%           0.00%
 Re-Election of non-executive
 director - Ms BJ Francis

 Ordinary resolution number 1.3:     95,23%      4,77%      336 109 792        90,34%           0.00%
 Re-Election of non- executive
 director - Mr GG Gelink

 Ordinary resolution number 1.4:     99,67%      0,33%      336 107 542        90,34%           0.00%
 Election    of     non-executive
 director - Ms A Sithebe

 Ordinary resolution number 2:       100,00%     0,00%      336 109 792        90,34%           0.00%
 Re-appointment of external
 auditor

 Ordinary resolution number 3.1:     95,19%      4,81%     336 109 792         90,34%           0.00%
 Election of audit committee
 member - Mr GG Gelink

 Ordinary resolution number 3.2:     97,46%      2,54%     336 109 792         90,34%          0.00%
 Election of audit committee
 member - Mr SW van Graan

 Ordinary resolution number 3.3:     100,00%     0,00%     336 107 542        90,34%           0.00%
 Election of audit committee
 member - Ms BJ Francis

 Ordinary resolution number 3.4:     99,67%   0,33%       336 107 542          90,34%          0.00%
 Election of audit committee
 member - Ms A Sithebe

 Ordinary resolution number 4:       84,56%   15,44%      336 104 992          90,34%          0.00%
 Endorsement of Altron Group
 Remuneration Policy

 Ordinary resolution number 5:       86,92%   13,08%      336 104 992          90,34%          0.00%
 Endorsement                    of
 Implementation of Altron Group
 Remuneration Policy

 Ordinary resolution number 6:       59,07%   40,93%      336 107 992          90,34%          0.00%
 General authority to directors to
 allot and issue authorised but
 unissued A ordinary shares

 Ordinary resolution number 7:       97,63%   2,37%       336 107 992          90,34%          0.00%
 Authority to implement
 resolutions passed at the AGM

 Special resolution number 1:        99,66%   0,34%       336 108 492          90,34%          0.00%
 Remuneration of independent
 non-executive chairman

 Special resolution number 2:        99,66%   0,34%       336 108 492          90,34%          0.00%
 Remuneration of non-executive
 directors

 Special resolution number 3.1:      99,66%   0,34%       336 105 492          90,34%          0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron audit
 committee chairman

 Special resolution number 3.2:      99,66%   0,34%       336 105 492         90,34%          0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron audit
 committee member

 Special resolution number 3.3:      99,66%   0,34%       336 105 492         90,34%          0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron
 remuneration committee
 chairman

 Special resolution number 3.4:      99,66%   0,34%       336 105 492        90,34%          0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron
 remuneration committee
 member

 Special resolution number 3.5:      99,66%   0,34%       336 105 492        90,34%         0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron risk
 management committee
 chairman

 Special resolution number 3.6:      99,66%   0,34%       336 105 492        90,34%         0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron risk
 management committee
 member

 Special resolution number 3.7:      99,66%   0,34%       336 105 492        90,34%         0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron nomination
 committee chairman
 
 Special resolution number 3.8:      99,66%   0,34%        336 105 492       90,34%          0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron nomination
 committee member

 Special resolution number 3.9:      99,66%   0,34%        336 105 492       90,34%         0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron social and
 ethics committee chairman

 Special resolution number 3.10:     99,66%     0,34%      336 105 492       90,34%         0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron social and
 ethics committee member

 Special resolution number 3.11:     99,66%      0,34%      336 105 492       90,34%        0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron investment
 committee chairman

 Special resolution number 3.12:      99,66%     0,34%       336 105 492      90,34%        0.00%
 Remuneration payable to non-
 executive directors participating
 in statutory and board
 committees - Altron investment
 committee member

 Special resolution number 4:         92,56%     7,44%       336 105 492      90,34%        0.00%
 Remuneration payable to non-
 executive directors for
 participating in
 special/unscheduled board
 meetings and strategy sessions

 Special resolution number 5:         100,00%     0,00%          336 106 792      90,34%    0.00%
 General authority to provide
 financial assistance to related or
 inter-related companies
 Special resolution number 6:         100,00%    0,00%          336 105 792      90,34%      0.00%
 Change of Company Name

 Special resolution number 7:        100,00%     0,00%          336 105 792      90,34%      0.00%
 Amendment of Memorandum of
 Incorporation

*Abstentions are represented as a percentage of total issued ordinary shares

Accordingly, all the resolutions as set out in the notice of annual general meeting, were passed by the
requisite majority of votes. The special resolutions will, to the extent necessary, be filed and registered
with the Companies and Intellectual Property Commission.


Johannesburg
28 July 2021

Sponsor: Investec Bank Limited

Date: 28-07-2021 01:41:00
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