Simbisa Brands Limited

Simbisa Brands – Results of Seventh AGM held on 18 November 2022

By Published On: December 1st, 2022Categories: AGM, Corporate announcement

At the Seventh Annual General Meeting of members held on Friday 18 November 2022 at 08:15hrs, the following resolutions were tabled:

Resolution Result
Ordinary Business
  1. To receive and consider the financial statements for the year ended 30 June 2022 together with the report of the Directors and Auditors thereon.
  1. To re-elect retiring Directors: Mrs J. Hussein and Mr. A. B. C. Chinake who retired by rotation and being eligible, offered themselves for re-election.
  1. To approve Directors’ fees for the year ended 30 June 2022.
  1. To approve the remuneration of the Auditors for the year ended 30 June 2022.
  1. To appoint Auditors of the Company until the conclusion of the next Annual General Meeting.
Special Business
  1. 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 Zimbabwe Stock Exchange (ZSE) Listing Requirements, the purchase by the Company of its own 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: –

    1. The authority in terms of this resolution shall expire on the date of the Company’s next Annual General Meeting; and
    2. Acquisitions shall be of ordinary shares which, in aggregate in any one financial year, shall not exceed 10% (ten per centum) of the Company’s issued ordinary share capital; and
    3. 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 ZSE, as determined over the 5 (five) business days immediately preceding the date of purchase of such ordinary shares by the Company; and
    4. 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 centum) of the number of ordinary shares in issue prior to the acquisition; and
    5. If during the subsistence of this resolution the Company is unable to declare and pay a cash dividend, then this resolution shall be of no force and effect.

Shareholders representing 461,134,624 votes, equal to 82% of the total issued shares, were present in person or by proxy.

By order of the Board of

Prometheus Corporate Services
Company Secretary

22 November 2022

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