Mr Price Group Limited: Results of the 88th Annual General Meeting and Change in Director Responsibility

Results of the 88th annual general meeting

Shareholders are advised that at the Mr Price Group Annual General Meeting (“AGM”) held yesterday, Wednesday 25 August 2021, all the ordinary and special resolutions as set out in the notice of AGM dated 11 June 2021 were passed by the requisite majority of votes of shareholders present in person or represented by proxy.

The total number of shares present or represented, including by proxy, at the AGM was 76.21% of the Group’s issued share capital* as at Friday 20 August 2021, being the AGM voting record date.

Ahead of the AGM, the Group sent communication to 25 shareholders representing approximately 55% of its issued ordinary shares for purposes of engaging generally on the resolutions proposed at the AGM and particularly on the Group’s remuneration policy and remuneration implementation report. Through this process, the Group actively engaged with 15 of these shareholders. Mr Price Group is disappointed at the overall result of the voting on these resolutions, particularly given the adjustments made to the remuneration policy and remuneration implementation report over the past few years and the new long-term incentive plan that was implemented during 2020.

The Group strives to apply its remuneration philosophy of “partnership” consistently and appropriately and the Group will continue its efforts to engage with shareholders to understand more fully the concerns around the remuneration policy and implementation thereof. Accordingly, shareholders are invited to advise the Group of their reasons for their dissenting votes on the remuneration policy and/or the implementation thereof, and whether they wish to engage with the Group on these issues. Correspondence in this regard should be addressed by email to the Head of Investor Relations, Matt Warriner (, by 30 September 2021. Thereafter the date and time of requested engagements will be scheduled with shareholders individually.

Change in director responsibility

Shareholders are advised that Lucia Swartz, who joined the Mr Price Group board of directors in August 2020 as an independent nonexecutive director, has been appointed as a member of Social, Ethics, Transformation and Sustainability committee with effect from 26 August 2021.

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