Resilient REIT Limited announced the results of its Annual General Meeting (AGM) held on June 20, 2024. Shareholders approved all resolutions presented during the meeting.
Meeting Attendance and Voting Breakdown
Shareholder Participation
Shareholder engagement was strong, with 76.52% of the eligible shares represented at the AGM. The company had 365,204,738 shares in issue, with 335,048,697 shares eligible to vote after excluding 30,156,041 treasury shares.
Meeting Attendance Table
| Description | Number of Shares | Percentage (%) |
|---|---|---|
| Shares in Issue | 365,204,738 | 100% |
| Eligible Shares | 335,048,697 | 91.73% |
| Shares Represented at AGM | 256,392,480 | 76.52% |
Director Appointments and Re-elections
Ordinary Resolution 1: Appointment of Barry Stuhler
Barry Stuhler was appointed as a director with overwhelming support.
- For: 98.22% (251,256,948 shares)
- Against: 1.78% (4,550,265 shares)
- Abstentions: 0.16% (585,267 shares)
Ordinary Resolution 2: Re-elections
Alan Olivier, Stuart Bird, Thando Sishuba, and Barry van Wyk were re-elected as directors.
Director Re-elections Table
| Director | For (%) | Against (%) | Abstentions (%) |
|---|---|---|---|
| Alan Olivier | 94.42 | 5.58 | 0.16 |
| Stuart Bird | 99.82 | 0.18 | 0.16 |
| Thando Sishuba | 98.38 | 1.62 | 0.16 |
| Barry van Wyk | 76.08 | 23.92 | 0.16 |
Audit Committee Members
Ordinary Resolution 4: Re-election of Audit Committee Members
Protas Phili, Stuart Bird, and Des Gordon were re-elected as members of the Audit Committee with substantial support. Barry Stuhler was newly elected with a lower margin.
Audit Committee Re-elections Table
| Member | For (%) | Against (%) | Abstentions (%) |
|---|---|---|---|
| Protas Phili | 99.77 | 0.23 | 0.16 |
| Stuart Bird | 99.83 | 0.17 | 0.16 |
| Des Gordon | 99.83 | 0.17 | 0.16 |
| Barry Stuhler | 71.86 | 28.14 | 0.16 |
Financial Matters
Ordinary Resolution 5: Appointment of Auditors
Shareholders voted almost unanimously for the reappointment of the company’s auditors.
- For: 99.99% (255,791,107 shares)
- Against: 0.01% (16,106 shares)
- Abstentions: 0.16% (585,267 shares)
Ordinary Resolution 6: Authority to Issue Shares for Cash
The resolution to grant the board authority to issue shares for cash was approved.
- For: 97.93% (250,509,366 shares)
- Against: 2.07% (5,293,292 shares)
- Abstentions: 0.16% (589,822 shares)
Remuneration Policy
Non-Binding Advisory Votes
Shareholders endorsed both the Remuneration Policy and the Remuneration Implementation Report.
Remuneration Votes Table
| Resolution | For (%) | Against (%) | Abstentions (%) |
|---|---|---|---|
| Remuneration Policy | 84.32 | 15.68 | 0.16 |
| Implementation Report | 87.06 | 12.94 | 0.16 |
Special Resolutions
Financial Assistance
The approval of financial assistance to related and inter-related companies passed with a strong majority.
- For: 99.24% (253,858,339 shares)
- Against: 0.76% (1,948,874 shares)
- Abstentions: 0.16% (585,267 shares)
Share Repurchase
The resolution to repurchase shares received significant support.
- For: 90.27% (230,926,020 shares)
- Against: 9.73% (24,881,193 shares)
- Abstentions: 0.16% (585,267 shares)
Non-Executive Directors’ Fees
Resolutions to authorize non-executive directors’ fees and fees for special committee meetings were also approved.
Non-Executive Directors’ Fees Table
| Resolution | For (%) | Against (%) | Abstentions (%) |
|---|---|---|---|
| Directors’ Fees | 89.53 | 10.47 | 0.16 |
| Special Committee Fees | 99.16 | 0.84 | 0.16 |
Implementation Authority
Ordinary Resolution 7
This resolution granted authority to directors or the company secretary to implement the approved resolutions.
- For: 100.00% (255,807,213 shares)
- Against: 0.00%
- Abstentions: 0.16% (585,267 shares)
