Resilient REIT Limited's Annual General Meeting Sees Strong Support for Governance and Future Plans

Strategic Insights -

Shareholders passed all proposed resolutions except one at Resilient REIT Limited's annual general meeting, demonstrating substantial backing for the company's governance and future plans. The meeting, held on June 25, 2025, saw the withdrawal of ordinary resolution number 4.4 concerning the re-election of Barry Stuhler to the Audit and Risk Committee. Despite this exception, the resolutions saw overwhelming support, with some notable appointments receiving very high approval ratings. The meeting reported a total of 365,204,738 shares in issue, with 286,139,131 shares present or represented, accounting for 85.40% of the total eligible voting shares.

Key Takeaways:

  • The meeting saw the withdrawal of ordinary resolution number 4.4 concerning the re-election of Barry Stuhler to the Audit and Risk Committee, with 30,156,041 treasury shares excluded from voting.
  • The appointment of Sarita Martin as a director was approved with 99.98% of shares in favor, while Johann Kriek and Des de Beer were re-elected as directors with 99.82% and 97.41% approval, respectively.
  • Prototype Phili's re-election to the Audit and Risk Committee received 66.17% approval, and his election to the Social and Ethics Committee was backed by 95.15% of the vote.
  • A general authority to issue shares for cash was granted with a 94.68% approval rate.
  • Non-binding advisory votes on the remuneration policy and its implementation report revealed a more mixed reaction, with an 86.89% endorsement of the remuneration policy and 85.64% support for the implementation report.

Statistics:

  • Total shares in issue: 365,204,738
  • Total eligible voting shares: 335,048,697
  • Shares present or represented: 286,139,131 (85.40% of total eligible voting shares)
  • Approval rating for appointment of Sarita Martin: 99.98%
  • Approval rating for re-election of Johann Kriek: 99.82%
  • Approval rating for re-election of Des de Beer: 97.41%
  • Approval rating for prototype Phili's re-election to the Audit and Risk Committee: 66.17%
  • Approval rating for Barry van Wyk's election to the Audit and Risk Committee: 84.84%

Sources:

  • Resilient REIT Limited's annual general meeting notice (dispatched on 30 April 2025)
  • Johannesburg Stock Exchange (JSE) press release