AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Results of The Annual General Meeting of Altron held on 1 August 2018 and change in function of a director Results of The Annual General Meeting of Altron held on 1 August 2018 and change in function of a director Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron" or "the company") RESULTS OF THE ANNUAL GENERAL MEETING OF ALTRON HELD ON 1 AUGUST 2018 AND CHANGE IN FUNCTION OF A DIRECTOR Shareholders are advised that the results of the business conducted at the Altron annual general meeting held on Wednesday, 1 August 2018 at 09:00 in the Altron Boardroom, 5 Winchester Road, Parktown, Johannesburg are as follows: Total issued number of Number of ordinary shares Percentage of ordinary ordinary shares represented at the meeting shares represented at the meeting 399 166 580 309 599 861 77.56% Annual financial statements The annual financial statements of the company, incorporating the external auditor, audit committee and directors´ reports for the year ended 28 February 2018, were presented. Details of the results of voting at the annual general meeting are as follows: Resolution proposed For Against Abstain* Ordinary resolution number 1: Election of 309 501 605 25 843 72 413 director: Ms BJ Francis 99.99% 0.01% 0.02% Ordinary resolution number 2.1: Re-election 281 646 756 2 222 025 25 731 080 of director: Mr MJ Leeming 99.22% 0.78% 6.45% Ordinary resolution number 2.2: Re-election 309 468 100 119 348 12 413 of director: Mr GG Gelink 99.96% 0.04% 0.00% Ordinary resolution number 2.3: Re-election 279 422 208 30 105 240 72 413 of director: Dr PM Maduna 90.27% 9.73% 0.02% Ordinary resolution number 2.4: Re-election 234 616 713 74 910 735 72 413 of director: Ms DNM 75.80% 24.20% 0.02% Mokhobo Ordinary resolution number 2.5: Re-election 272 734 030 33 156 875 3 708 956 of director: Mr RE Venter 89.16% 10.84% 0.93% Ordinary resolution number 3: Appointment of 308 131 319 1 456 129 12 413 external auditor and noting 99.53% 0.47% 0.00% of appointment of designated auditor Ordinary resolution number 4.1: Election of 309 367 869 75 028 156 964 audit committee member: 99.98% 0.02% 0.04% Mr GG Gelink Ordinary resolution number 4.2: Election of 308 530 026 852 871 216 964 audit committee member: 99.72% 0.28% 0.05% Mr SW van Graan Ordinary resolution number 4.3: Election of 309 377 195 5 702 216 964 audit committee member: 100% 0.00% 0.05% Ms BJ Francis Ordinary resolution number 5: Endorsement 278 827 967 5 245 365 25 526 529 of Altron Group 98.15% 1.85% 6.40% Remuneration Policy Ordinary resolution number 6: Endorsement 257 318 893 52 268 555 12 413 of implementation of Altron 83.12% 16.88% 0.00% Group Remuneration Policy Ordinary resolution number 7: General 234 783 347 74 804 101 12 413 authority to directors to 75.84% 24.16% 0.00% allot and issue authorised but unissued A ordinary shares Special resolution number 1: Remuneration 309 507 756 19 692 72 413 of independent non- 99.99% 0.01% 0.02% executive chairman Special resolution number 2: Remuneration 309 507 756 19 692 72 413 of non-executive directors 99.99% 0.01% 0.02% Special resolution number 3: Remuneration 308 724 587 862 861 12 413 payable to non-executive 99.72% 0.28% 0.00% directors participating in statutory and board committees Special resolution number 4: Remuneration 308 660 587 866 861 72 413 payable to non-executive 99.72% 0.28% 0.02% directors for participating in special / unscheduled board meetings and ad- hoc strategic planning sessions Special resolution number 5: Financial 282 651 617 26 875 831 72 413 assistance to employee 91.32% 8.68% 0.02% share scheme beneficiaries and related or inter-related companies and corporations *Abstentions are represented as a percentage of total issued ordinary shares. The proposed ordinary resolution number 2.6 as set out in the notice of annual general meeting, relating to the re-election of Dr WP Venter, was withdrawn prior to the commencement of the annual general meeting. This is in line with Dr Venter´s retirement as non-executive director on the Altron Board, with effect from 31 July 2018. Accordingly, all the resolutions as set out in the notice of annual general meeting, save for the above withdrawal, were passed by the requisite majority of votes. The special resolutions will, to the extent necessary, be filed and registered with the Companies and Intellectual Property Commission. CHANGE IN FUNCTION OF A DIRECTOR Subsequent to the passing of ordinary resolutions number 4.1 to 4.3 above, Mr MJ Leeming stepped down as a member of the Altron audit committee with effect from the end of the annual general meeting. The Altron audit committee members with effect from 1 August 2018 are Messrs GG Gelink (chairman) and SW van Graan and Ms BJ Francis. Johannesburg 1 August 2018 Sponsor: Investec Bank Limited Date: 01/08/2018 12:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.