Mahube Infrastructure shareholders reject remuneration policy at AGM

Mahube Infrastructure Limited held its annual general meeting (AGM) on September 17, 2025, where all resolutions were approved except for two non-binding advisory votes concerning remuneration. Shareholders did not endorse Resolution 5.1, the remuneration policy, which saw 49.09% votes in favor and 50.91% against, with 9.37% abstentions. Similarly, Resolution 5.2, the remuneration implementation report, was not approved, receiving 49.08% in favor and 50.92% against, alongside 9.39% abstentions.

The total number of shares in issue at the AGM date was 55,151,000, with 80.61% of these shares (44,456,141) represented. Shareholders who voted against the remuneration proposals are invited to engage with the company by November 29, 2025, to provide feedback that the remuneration committee will consider.

Despite the dissent on remuneration, all other ordinary and special resolutions passed, including the re-election of directors and the approval of non-executive directors' remuneration. For instance, ordinary resolution 1.1 for the re-election of Mr M Kuscus passed with 100% of votes in favor. The special resolution for the approval of non-executive directors' remuneration was approved with 100% of votes in favor among the shares voted.