Remgro (REM) AGM 2024 summary

Opening remarks and agenda

• The meeting was opened as a hybrid event, with both in-person and online participation, and a quorum was confirmed.

• Voting on all resolutions was conducted electronically, with Computershare and Cliffe Dekker Hofmeyr representatives acting as scrutineers.

• The agenda included 16 ordinary and 4 special resolutions, with voting open until after the Q&A session.

Board and executive committee updates

• One-third of directors retired by rotation and stood for re-election, with all presenting themselves for another term.

• Appointment of an alternate director to Mr. Durand was proposed and voted on.

• Members of the audit and risk committee were proposed for election for the next financial year.

Shareholder proposals

• Shareholders raised questions on minimum shareholding requirements for executives, with comparisons to international standards and discussion on alignment of incentives.

• Questions addressed portfolio optimization, including recent disposals and the strategic value of remaining assets.

• Shareholders inquired about board diversity, director tenure, and ESG-linked targets.