SPECIAL RESOLUTIONS
On 11 June 2008 the Company’s shareholders approved the
following special resolution:
General authority to repurchase Company shares
It was resolved that the Company or any of its subsidiaries may,
in accordance with sections 85 and 89 of the Companies Act,
acquire issued shares of the Company or its holding company,
upon such terms and conditions and in such amounts as the
directors of the Company may determine from time to time.
Acquisition of such shares is subject to the articles of
association of the Company, the provisions of the Companies
Act and the Listings Requirements of the JSE Limited (“JSE”),
and provided further that acquisitions by the Company and
its subsidiaries of shares in the Company may not, in the
aggregate, exceed in any one financial year 5% of the
Company’s issued share capital.
Subsidiary companies special resolutions
On 11 June 2008, Pick n Pay Stores Limited passed the same
special resolution as the Company.
100%-owned subsidiary companies, Bedworth Sentrum (Pty)
Limited, Pick n Pay (Steeledale) (Pty) Limited and Pick n Pay
(Steelpark) (Pty) Limited passed special resolutions in terms of
section 228 of the Companies Act, to sell their only asset
being investment property.
DIRECTORS AND SECRETARY
In terms of the Company’s Articles of Association the directors
listed here retire by rotation and they offer themselves
for re-election. Information pertaining to the directors and the
Company Secretary appear here.
DIRECTORS’ INTEREST IN SHARES |
