We profile some of the significant events relating to Annual General Meetings (AGM) for Monday and Tuesday this week:
- The Phumelela AGM saw 20% of shareholders vote against the general resolution to issue shares for cash
- The Heriot REIT AGM saw 95% of shareholders represented with no votes against any of the resolutions
- The Lonfim AGM passed all resolutions with no major shareholder pushback
- Grand Parade Investments announced the resignation of chief executive officer – Prabashinee Moodley – “due to the current market sentiment with regards to the Quick Service Restaurant industry.”
- The African Rainbow Minerals AGM saw a number of directors facing pushback from shareholders with 16.3% voting against the re-appointment of Dr. Bakane-Tuoane, 13% against Manisi Gule, 14% voting against Alex Maditsi. 20.6% also voted against the special resolution relating to financial assistance for related / inter-related companies.