Page 37

AFRICAN DAWN 2015 Annual Report

Directors’ Report continued 8. 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. AFRICAN DAWN 35 ANNUAL REPORT 2015 9. Special resolutions The special resolutions set out below were passed at the Annual General Meeting (“AGM”) held on 12 December 2014. 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 • Financial assistance for acquisition of shares in a related or inter-related Company 10. 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. 11. Secretary Mr. W Somerville resigned as company secretary on 31 July 2014 and was replaced by Statucor (Pty) Ltd. The 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 12. Dividends No dividends were declared or paid to shareholders’ during the period (2014: Rnil). 13. Registered office The Company’s registered office is: 2nd Floor Waterfront Terraces Tygervalley Waterfront 7530


AFRICAN DAWN 2015 Annual Report
To see the actual publication please follow the link above