Seed Co Limited (Zimbabwe) – Results of the AGM held on the 20th of September 2023

By Published On: September 22nd, 2023Categories: AGM, Corporate announcement

Shareholders are advised that all the resolutions put to a poll vote at the Annual General Meeting of Shareholders of Seed Co Limited (“the Company”) held on 6 September 2022 were passed without any modification as tabulated in the table below.

RESOLUTIONS MOTION DECISION
ORDINARY RESOLUTIONS
1 Approval of Financial Statements for the year ended 31 March 2023 Passed
2 Election of Directors: –
a) Re-election of Dr. Dahlia Garwe (Mrs) Passed
b) Re-election of Mr. Frederic Savin Passed
3 Approval of Directors’ fees for the year ended 31 March 2023 Passed
4 Auditors: –
a) Approval of Auditors’ fees for the year ended 31 March 2023 Passed
b) Reappointment of Auditors, KPMG Chartered Accountants (Zimbabwe), for the year ended 31 March 2024 Passed
SPECIAL RESOLUTION
5 Share Buy-back mandate renewal Passed
Renewal of authority for the Company to buy back its shares subject to the following salient terms of the original mandate:
a)the maximum number of shares so repurchased in any one financial year shall not exceed 10% of the issued ordinary share capital of the Company;
b)the share buy-back may not be made at a price greater than 5% above or 5% below the weighted average of the market price for the ordinary shares for the 5 business days immediately preceding the date on which the repurchase transaction is effected; and
c)the maximum amount of funds to be allocated by the Company pursuant to the Proposed Share Buy-Back shall not exceed the sum of retained earnings of the Company based on its latest financial statements available up to date of a transaction pursuant to the Share Buy-Back.
d)the renewed share buyback mandate shall commence upon the passing of this resolution, until the date of the next Annual General Meeting of the Company or 15 months from the date of the renewal resolution, whichever is the shorter.

 

By Order of the Board

Tineyi Chatiza
Company Secretary
22 September 2023

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