We profile some of the significant events relating to Annual General Meetings (AGM) for Monday and Tuesday this week:

1. The Phumelela AGM saw 20% of shareholders vote against the general resolution to issue shares for cash
2. The Heriot REIT AGM saw 95% of shareholders represented with no votes against any of the resolutions
3. The Lonfim AGM passed all resolutions with no major shareholder pushback
4. 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.”
5. 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.