CA Sales Holdings Limited (JSE: CAA, BSE: CAS-EQO) reported the results of its Annual General Meeting (AGM) today. Shareholders approved all resolutions, except one which was withdrawn.
Strong Support for Board Re-elections
The AGM saw high approval rates for director re-elections. Notably, Mr. B Patel received 99.49% approval, while Ms. S Moakofi had near-unanimous support with 99.99%.
| Resolution | Votes For | Votes Against | Shares Voted | % of Shares Issued | Abstained % |
|---|---|---|---|---|---|
| Re-elect Mr. B Patel | 99.49% | 0.51% | 423,186,802 | 88.65% | 0.09% |
| Re-elect Ms. S Moakofi | 99.99% | 0.01% | 423,186,802 | 88.65% | 0.09% |
| Re-elect Mr. B Marole | 100.00% | 0.00% | 423,186,802 | 88.65% | 0.09% |
Audit and Risk Committee Reappointments
Members of the audit and risk committee also received substantial support. Mr. L Cronje and Ms. B Mathews were reappointed unanimously.
| Resolution | Votes For | Votes Against | Shares Voted | % of Shares Issued | Abstained % |
|---|---|---|---|---|---|
| Reappoint Mr. L Cronje | 100.00% | 0.00% | 423,186,802 | 88.65% | 0.09% |
| Reappoint Ms. B Mathews | 100.00% | 0.00% | 423,186,802 | 88.65% | 0.09% |
| Reappoint Mr. B Patel | 99.19% | 0.81% | 423,186,802 | 88.65% | 0.09% |
| Reappoint Mr. F Britz | 82.52% | 17.48% | 404,087,931 | 84.64% | 4.09% |
Approval of Deloitte & Touche as Auditor
Deloitte & Touche was reappointed as the company auditor with overwhelming support. 99.93% of shareholders voted in favor.
| Resolution | Votes For | Votes Against | Shares Voted | % of Shares Issued | Abstained % |
|---|---|---|---|---|---|
| Reappoint Deloitte & Touche | 99.93% | 0.07% | 423,186,802 | 88.65% | 0.09% |
Remuneration Policy and Implementation Report
Shareholders provided a strong endorsement of the remuneration policy and its implementation report. The remuneration policy received 82.61% approval, while the implementation report was backed by 99.67%.
| Resolution | Votes For | Votes Against | Shares Voted | % of Shares Issued | Abstained % |
|---|---|---|---|---|---|
| Non-binding vote on remuneration policy | 82.61% | 17.39% | 423,039,205 | 88.61% | 0.12% |
| Non-binding vote on implementation report | 99.67% | 0.33% | 423,186,802 | 88.65% | 0.09% |
Withdrawal of Special Resolution
Special resolution number 1, regarding the general authority to issue ordinary shares for cash, was withdrawn. The reason for the withdrawal was not disclosed.
Other Special Resolutions Passed
All other special resolutions were approved with substantial majorities. The remuneration of non-executive directors received 99.99% support.
| Special Resolution | Votes For | Votes Against | Shares Voted | % of Shares Issued | Abstained % |
|---|---|---|---|---|---|
| Remuneration of non-executive directors | 99.99% | 0.01% | 423,181,227 | 88.64% | 0.09% |
| Inter-company financial assistance | 100.00% | 0.00% | 421,050,433 | 88.20% | 0.54% |
| Financial assistance for share transactions | 97.85% | 2.15% | 421,044,858 | 88.20% | 0.54% |
| Share repurchases by the company | 100.00% | 0.00% | 423,186,802 | 88.65% | 0.09% |
Voting Turnout
The voting turnout was high, with 88.65% of shares in issue being voted. This reflects strong shareholder engagement.
Summary
The AGM results indicate robust shareholder support for CA Sales Holdings’ leadership and governance. The re-election of directors and reappointment of audit committee members highlight confidence in the company’s direction.
CA Sales Holdings continues to maintain strong corporate governance practices. This is reflected in the overwhelming support for most resolutions.