Results of the Annual General Meeting of Altron held on 15 July 2020

Results of the Annual General Meeting of Altron held on 15 July 2020

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 15 JULY 2020

Shareholders are advised that the results of the business conducted at the Altron annual
general meeting held through electronic communication on Wednesday, 15 July 2020 are as
follows:

Total number of issued Number of ordinary Percentage of voteable
ordinary shares shares represented at the ordinary shares
meeting represented at the
meeting

400 477 483 340 204 009 90.97%

Annual financial statements

The annual financial statements of the company, incorporating the external auditor, audit
committee and directors’ reports for the year ended 29 February 2020, were presented.

Details of the results of voting at the annual general meeting are as follows:

Resolution proposed For Against Abstain*

Ordinary resolution number 1.1: Re-election of 93.88% 6.12% 0.01%
director: Mr AC Ball
Ordinary resolution number 1.2: Re-election of 92.38% 7.62% 0.01%
director: Mr BW Dawson
Ordinary resolution number 1.3: Re-election of 97.32% 2.68% 0.01%
director: Mr GG Gelink
Ordinary resolution number 1.4: Re-election of 94.44% 5.56% 0.01%
director: Mr MJ Leeming
Ordinary resolution number 1.5: Re-election of 98.49% 1.51% 0.01%
director: Mr M Nyati
Ordinary resolution number 1.6: Re-election of 98.45% 1.55% 0.01%
director: Mr S Sithole
Ordinary resolution number 1.7: Re-election of 100% 0.00% 0.03%
director: Mr SW van Graan
Ordinary resolution number 1.8: Re-election of 88.52% 11.48% 0.75%
director: Mr RE Venter
Ordinary resolution number 2: Re-appintment of 100% 0.00% 0.01%
external auditor
Ordinary resolution number 3.1: Election of audit 99.98% 0.02% 0.02%
committee member: Mr GG Gelink
Ordinary resolution number 3.2: Election of audit 97.38% 2.62% 0.03%
committee member: Mr SW van Graan
Ordinary resolution number 3.3: Election of audit 100% 0.00% 0.02%
committee member: Ms BJ Francis
Ordinary resolution number 4: Endorsement of 86.12% 13.88% 0.01%
Altron Group Remuneration Policy
Ordinary resolution number 5: Endorsement of 87.55% 12.45% 0.03%
implementation of Altron Group Remuneration Policy
Ordinary resolution number 6: General authority to 67.02% 32.98% 0.01%
directors to allot and issue authorised but unissued A
ordinary shares
Ordinary resolution number 7: Authority to 99.98% 0.02% 0.01%
implement resolutions passed at the AGM
Special resolution number 1: Remuneration of 100% 0.00% 0.03%
independent non-executive chairman
Special resolution number 2: Remuneration of non- 100% 0.00% 0.03%
executive directors
Special resolution number 3:1: Remuneration 100% 0.00% 0.03%
payable to audit committee chairman
Special resolution number 3:2: Remuneration 100% 0.00% 0.03%
payable to audit committee member
Special resolution number 3:3: Remuneration 100% 0.00% 0.03%
payable to remuneration committee chairman
Special resolution number 3:4: Remuneration 100% 0.00% 0.03%
payable to remuneration committee member
Special resolution number 3:5: Remuneration 100% 0.00% 0.03%
payable to risk management committee chairman
Special resolution number 3:6: Remuneration 100% 0.00% 0.03%
payable to risk management committee member
Special resolution number 3:7: Remuneration 100% 0.00% 0.03%
payable to nomination committee chairman
Special resolution number 3:8: Remuneration 100% 0.00% 0.03%
payable to nomination committee member
Special resolution number 3:9: Remuneration 100% 0.00% 0.03%
payable to social, ethics and sustainaibility committee
chairman
Special resolution number 3:10: Remuneration 100% 0.00% 0.03%
payable to social, ethics and sustainability committee
member
Special resolution number 3:11: 100% 0.00% 0.03%
Remuneration payable to investment committee
chairman
Special resolution number 3:12: 100% 0.00% 0.03%
Remuneration payable to investment committee
member
Special resolution number 4: Remuneration 94.07% 5.93% 0.03%
payable to non-executive directors for participating in
special / unscheduled board and committee meetings
and strategy sessions
Special resolution number 5: General authority to 99.02% 0.98% 0.01%
provide financial assistance to related or inter-related
companies

*Abstentions are represented as a percentage of total issued ordinary shares.

Accordingly, all the resolutions as set out in the notice of annual general meeting, 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.

Johannesburg
16 July 2020

Sponsor: Investec Bank Limited

Date: 16-07-2020 08:30:00
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