Deneb Investments Announces Unanimous Approvals at Annual General Meeting

Table of Contents

07 Aug 2024 (Johannesburg Stock Exchange) At the annual general meeting of Deneb Investments Limited, held at the company's offices in Observatory, Cape Town, all proposed resolutions were passed with unanimous support. Shareholders convened to vote on key issues, achieving the requisite majority needed for each resolution on the agenda.

The meeting saw the re-election of directors Mr. M H Ahmed, Mr. T Govender, and Ms. N B Jappie, each securing full support without opposition. The appointment of BDO as the company's auditor was similarly endorsed with complete approval. Likewise, the re-appointment of audit committee members, including Mr. Ahmed, Ms. Jappie, and Ms. K F Mahloma, received unanimous backing.

Shareholders also approved the general authority over authorized but unissued shares with a slight deviation from unanimity, categorizing the move as a Minor move. The authority granted to directors to implement company resolutions saw no dissent, aligning with the other resolutions that passed without reservation.

In addition to ordinary resolutions, non-binding advisory votes were conducted. The endorsement of the remuneration policy and the remuneration implementation report were both approved with full consensus. The special resolutions concerning the issuance of shares, options, and convertible securities for cash, as well as the approval of annual fees for non-executive directors, met with broad agreement, with only a Minor move observed in the authority to issue shares for cash.

The general authority to repurchase company shares and the authorization for financial assistance were similarly supported without any votes against. According to information available from the Johannesburg Stock Exchange (JSE), the participation rate was notably high, with 375.73 million shares voted, representing 85.64% of shares in issue.

Deneb Investments Limited operates within the designated market category of financial services, and the outcomes of this meeting reinforce the shareholders' confidence in the company's governance and strategic direction.

Provided by SyndiGate Media Inc. (Syndigate.info).