Standard Bank Group Limited Reports Favorable Outcomes from Annual General Meeting

Standard Bank Group Limited reported that its Annual General Meeting (AGM) resulted in the approval of all proposed ordinary and special resolutions by the requisite majority of shareholders. The meeting, held on June 9, 2025, saw significant participation with shareholders casting votes both in person and via proxies. The resolutions covered various aspects of corporate governance and operational matters, including the re-election of directors, re-election of Group Audit Committee members, and election of Social, Ethics, and Sustainability Committee members.

Key Takeaways:

• All proposed ordinary and special resolutions were approved by the requisite majority of shareholders, with some resolutions receiving 100% approval rates.
• A total of 1.36 billion ordinary shares, representing 83% of issued ordinary shares, and 16.69 million preference shares, accounting for 32% of issued preference shares, were eligible to vote.
• The re-election of director Rose Ogega received a 100% approval rate, while other directors received approval rates of 99.56% and 99.34%.
• The re-appointment of external auditors PricewaterhouseCoopers Inc. and Ernst and Young Inc. received 91.62% and 99.46% approval rates, respectively.
• The meeting also addressed special resolutions granting the company general authority to acquire its ordinary and preference shares.
• Director Martin Oduor-Otieno retired from both the board of Standard Bank Group and The Standard Bank of South Africa Limited, with the board expressing gratitude for his contributions.

Statistics:

• As of the AGM record date, May 30, 2025, Standard Bank Group had issued 1.65 billion ordinary shares and 52.98 million non-redeemable preference shares.
• 1.36 billion ordinary shares, representing 83% of issued ordinary shares, were eligible to vote.
• 16.69 million preference shares, accounting for 32% of issued preference shares, were eligible to vote.
• 100% of shareholders approved the re-election of director Rose Ogega.
• 99.56% of shareholders approved the re-election of Group Audit Committee member Nomgando Matyumza.
• 99.34% of shareholders approved the re-election of director Fenglin Tian.

Sources:

• Standard Bank Group Limited, "Standard Bank Group Limited Reports Favorable Outcomes from Annual General Meeting"