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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  The Bidvest Group Limited    BVT   ZAE000117321

THE BIDVEST GROUP LIMITED

(BVT)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 01/18
155.9 ZAR   -0.98%
2020BIDVEST : 22nd December 2020 - Significant holdings - Old Mutual
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2020BIDVEST : 22nd December 2020 - Bidvest BBBEE certificate 2020
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2020BIDVEST : 8th December 2020 - Acceptance of LTI awards
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Bidvest : 27th November 2020 - 2020 AGM results; engagement with dissenting shareholders; incentive awards

11/27/2020 | 09:29am EST

THE BIDVEST GROUP LIMITED ("Bidvest" or "The Group")

(Incorporated in the Republic of South Africa) (Registration number 1946/021180/06)

JSE Share code: BVT

ISIN: ZAE000117321

REPORT ON ANNUAL GENERAL MEETING PROCEEDINGS ("AGM"); ENGAGEMENT WITH DISSENTING SHAREHOLDERS; GRANTING OF SHORT-TERM AND LONG-TERM INCENTIVE AWARDS

1. RESULTS OF THE AGM

Bidvest shareholders are advised that at the AGM of the Company held on Friday, 27 November 2020, all the ordinary and special resolutions were passed by the requisite majority votes, except for the non-binding advisory votes relating to the endorsement of the remuneration policy and the implementation report.

Bidvest confirms the voting statistics from the AGM as follows:

Total number of shares that can be exercised at the meeting

100%

339 769 509

Total number of shares present/represented including proxies at the meeting as

% of voteable shares

75%

255 502 557

Total number of shares present/represented including proxies at the meeting as

% of issued shares

75%

255 502 557

Total number of members present in person

9

Issued Shares

100%

340 274 346

 Disclosed as a percentage of the voteable shares

 Disclosed as a percentage of the total issued capital

Ordinary Resolution 1.1 Re-election of directors that retire by rotation : EK Diack

For

Against

Abstain

Shares voted

254 327 999

952 442

222 116

255 280 441

99,63%

0,37%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 1.2 Re-election of directors that retire by rotation: GC McMahon

For

Against

Abstain

Shares voted

254 838 991

441 450

222 116

255 280 441

99,83%

0,17%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 1.3 Re-election of directors that retire by rotation: AK Maditse

For

Against

Abstain

Shares voted

250 488 577

4 784 864

229 116

255 273 441

98,13%

1,87%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 2.1 Election of non-executive directors: MJD Ruck

For

Against

Abstain

Shares voted

255 235 852

44 589

222 116

255 280 441

99,98%

0,02%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 2.2 Election of non-executive directors: N Siyotula

For

Against

Abstain

Shares voted

233 616 639

21 656 802

229 116

255 273 441

91,52%

8,48%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 3 Re-appointment of independent external auditor

For

Against

Abstain

Shares voted

254 171 050

1 100 191

231 316

255 271 241

99,57%

0,43%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 4.1 Election of members of the audit committee - EK Diack, subject to being re-elected as a director

For

Against

Abstain

Shares voted

254 410 926

869 515

222 116

255 280 441

99,66%

0,34%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 4.2 Election of members of the audit committee - RD Mokate

For

Against

Abstain

Shares voted

250 919 525

4 360 916

222 116

255 280 441

98,29%

1,71%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 4.3 Election of members of the audit committee - N Siyotula, subject to being elected as a director

For

Against

Abstain

Shares voted

237 597 607

17 675 834

229 116

255 273 441

93,08%

6,92%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 4.4 Election of members of the audit committee - NW Thomson

For

Against

Abstain

Shares voted

252 280 969

2 999 472

222 116

255 280 441

98,83%

1,17%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 5 Placing authorised by unissued ordinary shares under the control of directors

For

Against

Abstain

Shares voted

229 333 073

25 947 968

221 516

255 281 041

89,84%

10,16%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 6 General authority to issue shares for cash

For

Against

Abstain

Shares voted

228 902 199

26 372 076

228 282

255 274 275

89,67%

10,33%

0,07%

75,13%

0,07%

75,02%

Ordinary Resolution 7 Payment of dividend by way of pro rata reduction of share capital or share premium

For

Against

Abstain

Shares voted

254 243 100

1 038 975

220 482

255 282 075

99,59%

0,41%

0,06%

75,13%

0,06%

75,02%

Ordinary Resolution 8 Ratification relating to personal financial interest arising from multiple offices in the Group

For

Against

Abstain

Shares voted

242 223 778

9 874 389

3 404 390

252 098 167

96,08%

3,92%

1,00%

74,20%

1,00%

74,09%

Ordinary Resolution 9 Directors' authority to implement special and ordinary resolutions

For

Against

Abstain

Shares voted

252 366 985

2 914 540

221 032

255 281 525

98,86%

1,14%

0,07%

75,13%

0,06%

75,02%

Non-binding advisory vote - Remuneration policy

For

Against

Abstain

Shares voted

183 328 738

71 901 577

272 242

255 230 315

71,83%

28,17%

0,08%

75,12%

0,08%

75,01%

Non-binding advisory vote - Endorsement Implementation of remuneration policy

For

Against

Abstain

Shares voted

185 115 689

70 149 932

236 936

255 265 621

72,52%

27,48%

0,07%

75,13%

0,07%

75,02%

Special resolution 1 Adoption of new Memorandum of Incorporation

For

Against

Abstain

Shares voted

244 001 545

8 987 791

2 513 221

252 989 336

96,45%

3,55%

0,74%

74,46%

0,74%

74,35%

Special resolution 2 Non-executive director remuneration

For

Against

Abstain

Shares voted

249 228 147

6 019 472

254 938

255 247 619

97,64%

2,36%

0,08%

75,12%

0,07%

75,01%

Special resolution 3 General authority to repurchase shares

For

Against

Abstain

Shares voted

250 911 000

4 138 338

453 219

255 049 338

98,38%

1,62%

0,13%

75,07%

0,13%

74,95%

Special resolution 4 General authority to provide financial assistance to related or inter-related companies and corporations

For

Against

Abstain

Shares voted

245 609 109

9 672 816

220 632

255 281 925

96,21%

3,79%

0,06%

75,13%

0,06%

75,02%

2. ENGAGEMENT WITH DISSENTING SHAREHOLDERS

In light of the above AGM result, Bidvest invites those shareholders who voted against the remuneration policy and implementation report at the AGM ("dissenting shareholders") to forward written submissions on the remuneration policy and implementation report to the company secretary (Ilze.Roux@bidvest.co.za) by close of business on Friday, 22 January 2021. Meetings will be arranged, if appropriate, with individual dissenting shareholders.

3. GRANTING OF CONDITIONAL SHARE AWARDS IN TERMS OF THE 2008 BIDVEST CSP

Executive Directors have been awarded Conditional Share (CSP) Awards in terms of the 2008 Bidvest Group CSP, approved by shareholders at the annual general meeting in November 2008. CSP Awards are subject to performance conditions for the period starting 1 July 2020 and ending 30 June 2023. Subject to performance, vesting will occur in September 2023 and September 2024. The Remuneration Committee has given approval for the following individual allocations.

Conditional share awards are as follows:

Executive Directors:

NT Madisa

134 000 conditional share awards

MJ Steyn

57 000 conditional share awards

GC McMahon

46 000 conditional share awards

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

The Bidvest Group Limited published this content on 27 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 November 2020 14:28:05 UTC


© Publicnow 2020
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Financials
Sales 2021 85 244 M 5 701 M 5 701 M
Net income 2021 3 711 M 248 M 248 M
Net Debt 2021 19 130 M 1 279 M 1 279 M
P/E ratio 2021 14,4x
Yield 2021 2,77%
Capitalization 52 970 M 3 488 M 3 543 M
EV / Sales 2021 0,85x
EV / Sales 2022 0,77x
Nbr of Employees 123 841
Free-Float 99,8%
Chart THE BIDVEST GROUP LIMITED
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The Bidvest Group Limited Technical Analysis Chart | BVT | ZAE000117321 | MarketScreener
Technical analysis trends THE BIDVEST GROUP LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 8
Average target price 184,25 ZAR
Last Close Price 155,90 ZAR
Spread / Highest target 29,6%
Spread / Average Target 18,2%
Spread / Lowest Target 3,27%
EPS Revisions
Managers and Directors
NameTitle
Nompumelelo Thembekile Madisa Chief Executive Officer & Executive Director
Bonang Francis Mohale Chairman
Mark John Steyn Chief Financial Officer & Executive Director
Eric Kevin Diack Lead Independent Director
Alexander Komape Maditsi Independent Non-Executive Director
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