FINANCIAL
NEWS
ANNUAL GENERAL MEETING
TO BE HELD
Senwes and Senwesbel are to hold their
annual general meetings on Wednesday,
22 August 2018 at 09:00 at the Senwes
head office in Klerksdorp.
By Elmarie Joynt
Senwes Group Company Secretary
and Chief Legal Counsel
N
otices are to be sent to shareholders on or about
25 July 2018 and members are urged to attend the
meetings and to engage with the board of directors
and management. This is an excellent opportunity to
discuss prevailing strategic matters and to be informed of the
long-term prospects of the Senwes group.
The annual financial statements for the period ended 30 April
2018 are to be presented and Messrs Steve Booysen, James
Botha and Simon Mohapi are to retire by rotation, but are avail-
able for re-election. Simon is a veteran in the financial services
sector and has been involved with the NWU in Potchefstroom as
a board committee member and has been on the Senwes board
since 2016.
Shareholders are also requested to confirm the recommend-
ed final dividend of 27 cents per share, which will be paid on 31
August 2018.
It is also proposed that Ernst & Young be reappointed as
auditors. Mr Derek Engelbrecht will be the senior audit partner
for the 2019 audit, as Mr Mike Herbst will rotate as required
in terms of the Companies Act. In accordance with statutory
requirements, the members are also required to elect the mem-
bers of the Senwes Audit Committee and to adopt, inter alia, the
following resolutions:
Approval of the non-executive directors' remuneration;
Annual authority for the acquisition of the company's own
shares;
The amendment of the MOI.
The amendment is required based on a Supreme Court judge-
ment, Richard Du Plessis Barry v Clearwater Estates NPC & oth-
ers [2017] ZASCA, delivered in 2017, which clarified the position
regarding the “48-hour rule” for the delivery of proxies. Proxies
may be delivered any time before the meeting and the require-
ment that it could only be delivered 48 hours before the meeting,
is no longer appropriate.
For practical purposes shareholders are, however, requested
to submit their proxies as soon as possible by voting online or by
e-mailing the proxies to Senwes.
The notice and the full financial results are available on www.senwes.co.za.
64
SENWES SCENARIO | SPRING 2018
Senwes proud to be the
main sponsor of Boertjiefees
Close to 8000 people attended the Bultfontein Boertjiefees
last year, which marked the return of the festival after a hiatus
in 2016 due to the drought. Senwes is once again proud to be
a main sponsor of this exciting and popular festival.
The show promises the crème de la crème of South
Africa’s Afrikaans music talent, amazing stalls and exhibitions,
great food and lots of fun for the entire family, including an
awesome ladies programme.
For full details of the programme, please visit the Senwes
Facebook page. The Bultfontein Boertjiefees will be held at
the Bultfontein Show Grounds from 30 August -1 September
2018.