Blu Label Unlimited Group (BLU) AGM 2024 summary

Opening remarks and agenda

• The meeting was declared properly constituted with a quorum present and all board committee chairpersons and executives in attendance.

• Notice of the meeting was given in accordance with the MOI and Companies Act, and minutes of the previous AGM were approved.

• Voting was conducted electronically via Computershare, with a scrutineer nominated from the transfer secretaries.

Board and executive committee updates

• Reelection of three directors was proposed: M.S. Levy, D.A. Suntup, and S.J. Vilakazi, all offering themselves for reelection.

• Appointment of SNG Grant Thornton as auditors and Mr. A. Philippou as designated partner was recommended.

• Election of audit committee members, including Ms. N.P. Nkasana, Ms. L.E. Mthimunye, Mr. J.S. Mthimunye (as chairman), and S.J. Vilakazi, was proposed.

Corporate governance

• The board acknowledged progress in diversity, achieving over 60% Black representation and recent appointments of Black women, with ongoing efforts at management levels.

• Leadership development and targeted recruitment are being used to improve diversity at junior and middle management levels.

• Governance improvements at Cell C post-recapitalization included restructuring the board, appointing a new CEO and Exco, and establishing an oversight committee for related party transactions.

• Cell C's board now possesses core telco skills, and performance improvements have been observed.