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

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