Integrated Report 2018

PPS

INTEGRATED REPORT 2018

186

NOTICE TO THE MEMBERS

OF THE ANNUAL GENERAL

MEETING

THE PROFESSIONAL PROVIDENT SOCIETY HOLDINGS TRUST

(Registration number: IT312/2011)

(‘the Trust’)

Notice is hereby given that the ninth annual general meeting ('the meeting') of the members of the Trust will be

held on Monday, 20 May 2019 at 18:00, in the PPS Indaba Centre, 6 Anerley Road, Parktown, Johannesburg, for

the following purposes:

To adopt, by ordinary resolution, the annual financial statements for the year ended 31 December 2018,

including the reports of the trustees and the auditors of the Trust.

To re-appoint, by ordinary resolution, PricewaterhouseCoopers Inc. as the auditors of the Trust.

To elect and appoint trustees, by ordinary resolutions, in place of those trustees retiring in accordance

with the trust deed which established and governs the Trust ('Trust Deed').

Dr D P du Plessis and Mr N C Nyawo retire by rotation at the meeting in terms of the Trust Deed.

The following Trustees, being eligible for re-election and appointment, offer themselves for re-election and

appointment as trustees of the Trust:

3.1

Dr D P du Plessis

3.2 Mr N C Nyawo

In addition, the following candidates have been nominated for election and appointment as trustees of the

Trust in terms of the Trust Deed:

3.3 Adv H Cassim

3.4 Mr G Y Naidoo

3.5 Ms J D N Ndaba

3.6 Dr R Putter

3.7 Dr L C Snyman

3.8 Prof M W Sonderup

(Abbreviated biographical details of the persons referred to above are set out on pages 189 to 196 of this

Integrated Report).

EXPLANATORY NOTE ON THE APPOINTMENT OF THE TRUSTEES

The Trust Deed provides for a maximum of 20 Trustees, all of whom are appointed in accordance with the

Trust Deed. There are currently 8 elected Trustees, following the resignation of two elected Trustees, of whom

two are required to retire by rotation in terms of clause 7.2.1 of the Trust Deed. Following these retirements

by rotation, there will be six elected trustees in office. In terms of clause 5.3.1 of the Trust Deed, a maximum

of ten Trustees may be appointed by the members in general meeting. There are therefore four vacancies

and there are eight nominees for these vacant positions (including the two Trustees who retire by rotation

and who offer themselves for re-election and appointment). The Trust Deed provides that:

I. each candidate will be voted upon by a separate election resolution and if the election resolution is not

approved then that candidate is not appointed.

II. if the number of candidates whose election resolutions are approved exceeds the abovementioned number

of vacancies, the result of the voting shall be determined in accordance with the number of votes cast in

favour of each approved election resolution so that the vacancies will be filled by those candidates whose

approved election resolutions received the highest number of favourable votes.