Page 37 - annualreport2020
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AFRICAN DAWN ANNUAL REPORT   2020






            Directors’ Report continued




                                                                    62,702       62,702   28,065,342   28,032,532

        At the date of this report, the directors of the Company held direct and indirect beneficial interests in the Company as indicated per the table below:

         2020                                                        Direct     Indirect       Total      % Held
         J Slabbert #                                                    -    26,800,000   26,800,000       52.6
         WJ Groenewald                                                3,952    1,151,240    1,155,192        2.3
         G Hope                                                        58,750         -         58,750       0.1
         Shares held by associates of directors                                 -  114,102           114,102              0.2
                                                                       62,702  28,065,342      28,128,044    55.2
        # J Slabbert's shareholding is held indirectly through Arvesco 153 Proprietary Limited.

        There was no change in the director’s interest between year end and the date of this report.

        8. Borrowing limitations

        In terms of the Memorandum of Incorporation of the Company, the directors may exercise all the powers of the Company to borrow money, as
        they consider appropriate.

        9. Special resolutions
        The special resolutions set out below were passed at the Annual General Meeting (“AGM”) held on 7 August 2019.

        •   Non-executive directors’ fees
        •   Loans or other financial assistance to inter-related companies within the Group
        •   Financial assistance for the subscription and/or purchase of shares in the Company or a related or inter-related Company
        •   Share repurchase by the company and its subsidiaries

        10. Auditors

        We will recommend to the shareholders that Mazars will continue in office as auditors of Afdawn in terms of the Companies Act of 2008.
        11. Secretary

        The independent company secretary at the financial year-end is Statucor (Pty) Ltd whose address is as follows:

           2nd floor, Block D
           The Boulevard Office Park
           Searle Street
           Woodstock
           7925

        12. Dividends

        No dividends were declared or paid to shareholders’ during the period Rnil (2019: Rnil).
        13. Shares

        Refer to note 12 of the financial statements for details on additional shares issued during the current financial year.

        14. Registered office

           The company’s registered office is:
           3rd Floor,
           The Village at Horizon, Corner of Sonop and Ontdekkers Roads, Horizon View,
           1724,
           Gauteng
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