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MSM: MASSMART HOLDINGS LIMITED - Results Of 2019 Annual General Meeting

Date: 2019/05/23

MSM: MASSMART HOLDINGS LIMITED - Results of 2019 Annual General Meeting
Results of 2019 Annual General Meeting

Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
Company registration No. 1940/014066/06
JSE Code: MSM
ISIN: ZAE 000152617
("Massmart" or the "Company")

RESULTS OF 2019 ANNUAL GENERAL MEETING

Shareholders are advised that at the Massmart annual general meeting held on Thursday, 23 May 2019 at
09h00 ("Annual General Meeting"), the shareholders passed all the ordinary and special resolutions, as set
out in the notice of Annual General Meeting dated 5 April 2019, by the requisite majority of votes of
shareholders present in person or represented by proxy.

The total number of shares present/represented, including proxies, at the Annual General Meeting was
92.08% of Massmart´s issued share capital as at Friday, 17 May 2019, being the Voting Record Date.

The voting results were as follows:

  RESOLUTION                          TOTAL SHARES VOTED                                   SHARES
                                                                                           ABSTAINE
                                                                                           D
                                      FOR        AGAINST %    NUMBER OF        %*          %*
                                      %                       SHARES


 Ordinary Resolutions

 Ordinary resolution number 1
 Election of Olufunke Ighodaro to     98,12      1,88         201763291        92,07%      0,01%
 the Board of Directors
 Ordinary resolution number 2
 Election of Lindiwe Mthimunye to     99,93      0,07         201763171        92,07%      0,01%
 the Board of Directors
 Ordinary resolution number 3
 Election of JP Suarez to the         94,11      5,89         201765538        92,07%      0,01%
 Board of Directors
 Ordinary resolution number 4
 Re-election of Enrique Ostalé to     99,29      0,71         201765538        92,07%      0,01%
 the Board of Directors
 Ordinary resolution number 5
 Re-election of Susan Muigai to       99,51      0,49         201765538        92,07%      0,01%
 the Board of Directors
 Ordinary resolution number 6
 Re-election of Kuseni Dlamini to     98,20      1,80         201765388        92,07%      0,01%
 the Board of Directors
Ordinary resolution number 7
Election of Ernst & Young Inc. as    99,76   0,24    199536740   91,05%   1,03%
the Company´s auditors (with
Roger Hillen as audit partner)

Ordinary resolution number 8
Appointment  of   the       Audit
Committee members:
8.1      Olufunke     Ighodaro       99,95   0,05    201765418   92,07%   0,01%
(Chairman)
8.2 Lindiwe Mthimunye                99,96   0,04    201765418   92,07%   0,01%
8.3 Lulu Gwagwa                      91.73   8,27    201765388   92,07%   0,01%
8.4 Phumzile Langeni                 89,98   10,01   201765538   92,07%   0,01%
Ordinary resolution number 9
Authorisation for the Directors to   98,72   1,28    201763286   92,07%   0,01%
issue ordinary shares for cash,
not exceeding 5% of the shares
in issue
Ordinary resolution number 10
(non-binding advisory vote)
Endorsement of the Company´s         93,17   6,83    201763036   92,07%   0,01%
remuneration policy
Ordinary resolution number 11
(non-binding advisory vote)
Endorsement of the Company´s         93,30   6,70    201760176   92,07%   0,01%
remuneration     implementation
report
Special resolution number 1
Authorisation for the Company        97,43   2,57    201545777   91,97%   0,11%
and/or    its   subsidiaries to
repurchase its own shares

Special resolution number 2
Approval of the non-Executive
Directors´ remuneration
2.1 Chairman of the Board            99,85   0,15    201763171   92,07%   0,01%
2.2 Deputy Chairman of the           99,29   0,71    201763171   92,07%   0,01%
Board
2.3 Independent non-Executive        99,50   0,50    201763171   92,07%   0,01%
Directors
2.4 Audit Committee Chairman         99,91   0,09    201763171   92,07%   0,01%
2.5 Risk Committee Chairman          99,91   0,09    201763171   92,07%   0,01%
2.6 Remuneration       Committee     99,91   0,09    201763171   92,07%   0,01%
Chairman
2.7 Nomination and Social and        99,91   0,09    201763171   92,07%   0,01%
Ethics Committee Chairmen
2.8 Audit Committee Member           99,91   0,09    201763171   92,07%   0,01%
  2.9 Other     Board   Committee      99,91   0,09         201763171        92,07%      0,01%
  Members
  Special resolution number 3
  Authorisation to provide financial   99,64   0,36         201762947        92,07%      0,01%
  assistance




*Expressed as a percentage of a total of 201,783,213 Massmart ordinary shares in issue as at the Voting
Record Date.



Johannesburg
23 May 2019


Sponsor
J.P. Morgan Equities South Africa Proprietary Limited

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