The South African Breweries offices in Johannesburg
SPONSORED
Joining the presidency in
a nationwide effort to safeguard the health and wellbeing of all South
Africans, the SAB Zenzele board has made the decision to reschedule the special
AGM scheduled for March 19 2020 at Nasrec, in the interest of the health and
safety of its valued shareholder partners. This was announced by Penuell
Maduna, SAB Zenzele Chairman, in a video address to shareholders today.
The special AGM for the
B-BBEE share scheme will now take place on Wednesday, March 25
2020 at 10am in order to provide time for the necessary arrangements to be put
in place for the shareholders’ meeting, and voting thereat, to be fully
conducted by electronic communication.
“This is an exciting time
for us at SAB, as SAB Zenzele is set to mature in April 2020, and together with
you, our valued partners, we have achieved more than we could ever dream
possible. We are planning for the future with our brand new empowerment share
scheme, SAB Zenzele Kabili,” said Maduna.
“However, we understand
that this is a crucial time for us at SAB, as we wind down SAB Zenzele and
implement SAB Zenzele Kabili, not only for our future, but for our future
generations. Now that SAB Zenzele is coming to an end, every shareholder will
have to make a wise decision on what to do with their shares. As an SAB
Retailer and SAB Zenzele shareholder and partner, your voice is very important
to us, and we want to have you cast your vote about the implementation of SAB
Zenzele Kabili, which will not go ahead if it is not voted in by you, our SAB retailers,
at the special AGM,” Maduna continued.
The special AGM in its traditional format will be rescheduled, in line with the directive that gatherings of over 100 people are prohibited. However, shareholders will still have the right to vote, and an electronic solution is being worked on to ensure that they can participate in the special AGM from the comfort of their homes or taverns. Maduna encouraged shareholders to join the SAB Zenzele Retailers Facebook group to stay updated regarding developments.
The electronic voting
process for shareholders will be communicated in due course. For administrative purposes,
a form of proxy (pink)for the Shareholders’ Meeting should be received
by 10am on March 23. The results of
the special meeting will be published on March 26.
“Whatever decision you
make, think about your own future as well as the future generations in your
family. The scheme that is ending and the one that is starting is your
opportunity to to build a lasting legacy for your family. The opportunity is in
your hands. Thank you for your ongoing support and commitment; we look forward
to another successful decade with you,” Maduna concluded.
The SAB Zenzele Kabili
Share Scheme will be listed on the JSE on April 15 2020.
Shareholders are encouraged to join the SAB Zenzele Retailers Facebook group: https://www.facebook.com/groups/181049256534071/ or dial *120*1138# or visit www.investecsps.co.za for more information.