Axia Corporation – Results of the Eighth Annual General Meeting

By Published On: December 1st, 2023Categories: AGM, Corporate announcement

At the Eighth Annual General Meeting of members held at the Royal Harare Golf Club Conference Room on Tuesday, 21 November 2023, at 08:15 hrs., the following resolutions were tabled:

Resolution Result
Ordinary Business
1. To receive and consider the financial statements for the year ended 30 June 2023, together with the reports of the Directors and Auditors thereon. Passed
2. To re-elect retiring Director, Mrs. T. Mazingi who retires by rotation and being eligible, offers herself for re-election. Passed
3. To re-elect retiring Director, Mr. T. Sibanda who retires by rotation and being eligible, offers himself for re-election. Passed
4. To approve Directors’ fees for the year ended 30 June 2023. Passed
5. To approve the remuneration of the auditors for the year ending 30 June 2023, Passed
To appoint Auditors of the Company until the conclusion of the next Annual General Meeting. Passed
Special Business
6. Approval of Share Buy-Back

That the Company authorises in advance, in terms of section 129 of the Companies and Other Business Corporations Act (Chapter 24:03) and the Victoria Falls Stock Exchange (VFEX) Listing Requirements, the purchase by the Company of its shares upon such terms and conditions and such amounts as the Directors of the Company may from time to time determine, and such authority hereby specifies that: –

i. The authority in terms of this resolution shall expire on the date of the Company’s next Annual General Meeting and
ii. Acquisitions shall be of ordinary shares which, in aggregate in any one financial year, shall not exceed 10% (ten per cent) of the Company’s issued ordinary share capital; and
iii. The maximum and minimum prices, respectively, at which such ordinary shares may be acquired will not be more than 5% (five per centum) above and 5% (five per centum) below the weighted average of the market price at which such ordinary shares are traded on the VFEX, as determined over the 5 (five) business days immediately preceding the date of purchase of such ordinary shares by the Company; and
iv. A press announcement will be published as soon as the Company has acquired ordinary shares constituting, on a cumulative basis in the period between Annual General Meetings, 3% (three per cent) of the number of ordinary shares in issue before the acquisition; and
v. If the Company cannot declare and pay a cash dividend during the subsistence of this resolution, then this resolution shall be of no force and effect.

Passed
7. Loans to executive directors
To resolve as an ordinary resolution, with or without amendments:
“That the Company be and is hereby authorised to make any loan to any Executive Director or to enter into any guarantee or provide any security in connection with a loan to such Executive Director to enable him to properly perform his duty as an officer of the Company, as may be determined by the Remuneration Committee of the Board of Directors, provided that the amount of the loan or the extent of the guarantee or security shall not exceed the annual remuneration of that Director.”
Passed 

 

Shareholders representing 415,591,630 votes, equal to 74.75% of the total issued shares, were present in person or by proxy.

By order of the Board of
AXIA CORPORATION LIMITED

Prometheus Corporate Services
Company Secretary

Harare
24 November 2023

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