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AFRICAN DAWN Annual Report 2016

Directors’ Report continued At the date of this report, the directors of the company held direct and indirect beneficial interests in the company as indicated per the table below: 2016 Direct Indirect Total % Held WJ Groenewald 158,100 46,044,387 46,202,487 5.3 G Hope 2,350,000 - 2,350,000 0.1 JK Van Zyl # 33,333,333 - 33,333,333 3.8 EA Van Heerden # 33,333,333 - 33,333,333 3.8 A Böhmert # 35,833,333 - 35,833,333 4.1 105,008,099 46,044,387 151,052,486 17,1 # Resigned as director on 11 January 2016. There was no change in the director’s interest between year end and the date of this report. 9. Borrowing limitations In terms of the Memorandum of Incorporation of the company, the directors may exercise all the powers of the company to borrow money, as they consider appropriate. 10. Special resolutions The special resolutions set out below were passed at the Annual General Meeting (“AGM”) held on 15 January 2016. All special resolutions were accepted and passed. • Approval of non-executive directors’ remuneration • General authority to acquire own shares • Loans or other financial assistance to directors or related or inter-related companies within the group 11. Auditors We will recommend to the shareholders that Grant Thornton Cape Inc. will continue in office as auditors of Afdawn in terms of the Companies Act of 2008. 12. Secretary The independent company secretary at the year-end is Statucor (Pty) Ltd whose address is as follows: 2nd floor, Block D The Boulevard Office Park Searle Street Woodstock 7925 The company secretary evaluation has been completed by the audit committee subsequent to year end. 13. Dividends No dividends were declared or paid to shareholders’ during the period Rnil (2015: Rnil). 14. Shares The director have been authorized by the shareholders to issue up to an additional 5% of the share capital. 15. Registered office The company’s registered office is: 2nd Floor Waterfront Terraces Tygervalley Waterfront 7530 AFRICAN DAWN ANNUAL REPORT 2016 31


AFRICAN DAWN Annual Report 2016
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