Sasol Form 20-F for the year ended 30 June 2021 - Book - Page 93
Before a person will be allowed to attend or
participate at shareholder meetings in person or by
proxy, that person must present reasonably satisfactory
identification and the person presiding at the meeting
must reasonably satisfy himself/herself that the right of
the person to attend as shareholder or proxy has been
verified. Meetings of shareholders may be attended by
any person who holds shares in the company and whose
name has been entered into our securities register and
any person who is entitled to exercise any voting rights
in relation to the company. Any person entitled to
attend and to vote at any meeting may appoint a
proxy/ies in writing to attend and to vote at such
meeting on his/her/its behalf. In respect of shares which
are not subject to the rules of a central securities
depository, and in respect of which a person holds a
beneficial interest which includes the right to vote on a
matter, that beneficial holder may attend and vote on a
matter at a meeting of shareholders, but only if that
person’s name has been entered in our register of
disclosures as the holder of that beneficial interest.
Shareholders who have dematerialised their shares
other than on an own name basis, are required to
contact their Central Securities Depository Participant,
as the case may be, for assistance to attend and vote at
meetings.
that class of shares. If the requirements contemplated
under the Companies Act for establishing an appraisal
right are complied with, the shareholder concerned
effectively has the right to be bought out by the
company at fair value.
5. General meeting of shareholders including
conditions of admission
The annual general meeting is convened and
held in the same manner as any other general meeting.
All meetings are general meetings, save for the annual
general meeting.
In terms of the Companies Act, the board or
any other person specified in the company’s MOI,
including a shareholder/s holding not less than 10%
(ten percent) of the voting rights attached to the shares,
may call a shareholders meeting at any time. A written
and signed demand to convene a shareholders meeting
must describe the specific purpose for which the
meeting is proposed. The MOI only permits the board
or the company secretary (in lieu of the board) and a
shareholders/s holding not less than 10% of the voting
rights attached to the shares, to convene a shareholders’
meeting.
In terms of our MOI, the quorum necessary for
the commencement of a shareholders meeting shall be
sufficient persons present at the meeting to exercise, in
aggregate, at least 25% of all the voting rights that are
entitled to be exercised in respect of at least one matter
to be decided at the shareholders meeting but the
shareholders’ meeting may not begin unless at least
three persons entitled to vote are present. In terms of
our MOI, if the required quorum of shareholders is not
present within 30 minutes from the time appointed for
the meeting to begin, the meeting will be postponed to
the next business day and if at such adjourned
shareholders’ meeting a quorum is not present within
15 minutes from the time appointed for the
shareholders’ meeting, then the persons entitled to vote
present shall be deemed to be the requisite quorum. In
terms of the Companies Act, no further notice is
required of a postponed or adjourned meeting unless
the location is different from that of the postponed or
adjourned meeting, or is different from a location
announced at the time of an adjourned meeting.
If the company is unable to convene a meeting
because it has no directors, then in terms of our MOI,
any single shareholder entitled to vote may convene a
meeting.
If the company fails to convene a meeting in
accordance with its MOI, or as required by the
shareholders holding in the aggregate at least 10% of
the voting rights as set out above, or within the time
periods as required, any shareholder may apply to court
for an order to convene a shareholders meeting on a
date and subject to such terms as a court considers
appropriate.
In terms of our MOI, we are required to
deliver written notice of shareholders’ meetings to each
shareholder and each beneficial holder (being a person
whose name is not on the share register but who has the
ultimate right to receive distributions or direct how the
shares in question are voted or direct when the shares in
question are to be disposed of) at least 15 business days
before a meeting. The Companies Act also stipulates
that delivery of a notice will be deemed to have taken
place on the seventh calendar day following the day on
which the notice was posted by way of registered post.
See our Registration Statement for more
information with respect to the holding of an annual
general meeting and the proceedings at the annual
general meeting.
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