Shumba Energy : MINUTES & VOTING RESULTS- 2023 EXTRODINARY GENERAL MEETING

Suite 204

Grand Baie Business Quarters

Chemin Vingts Pied

Grand Bay, 30529

Republic of Mauritius

ANNOUNCEMENT

______________________________________________________________________________________

MINUTES & VOTING RESULTS- 2023 EXTRODINARY GENERAL MEETING

The Directors of Shumba Energy Ltd are pleased to announce the results of the General Meeting of Shareholders that was held virtually and in person on the 4th August 2023.

Pursuant to Article 34 (b) of the Constitution of the Company, the quorum for a meeting of shareholders should be at least one third of the voting shares of the Company.

A total of 29 shareholders, who held in total 237 656 437 shares were represented by proxy and in person, representing 81% of the shareholding of the Company and the remaining shareholders, who held in total 56 184 927 shares abstained from the meeting, representing 19% of the shareholding of the Company. The General Meeting was declared quorate and validly constituted.

The following resolutions proposed at the meeting were duly passed by the requisite majority of votes are set as per the table below.

By order of the Board

7th August 2023

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Grand Baie Business Quarters

Chemin Vingts Pied

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Republic of Mauritius

Voting results of AGM 04.08.23

Shareholding Details

FOR

AGAINST

Final

Total Number of

As percentage

Total number of

As percentage

Number of shares

As % of

Number of shares

As % of

shares in

(%) of issued

shares that

(%) of issued

voted

voted

Ordinary Resolution

attendance

shares

abstained

shares

shares

shares

1

To approve the minutes of

237 656 437

80.88%

86 974 643

29.60%

150 681 794

100%

NIL

NIL

the

previous

annual

meeting

held

on

31

FOR

December 2020.

2

To ratify the appointment of

237 656 437

80.88%

NIL

NIL

237 656 437

100%

NIL

NIL

Mr Temo Timothy Bolokwe

as director of the Company

FOR

by the board of directors.

3

To ratify the appointment of

237 656 437

80.88%

NIL

NIL

226 936 695

95.49%

10 719 742

4.51%

Mr

Praveen Beeharry

as

director of the Company by

FOR

the board of directors.

4

To ratify the appointment of

237 656 437

80.88%

NIL

NIL

226 936 695

95.49%

10 719 742

4.51%

Ms Joshna Ramah Goordiah

as director of the Company

FOR

by the board of directors.

5

To re-appoint Mr Mashale

237 656 437

80.88%

NIL

NIL

237 656 437

100%

NIL

NIL

Phumaphi as Director of the

FOR

Company

until

the next

Annual Meeting.

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Republic of Mauritius

6

To re-appoint Mr Thapelo

237 656 437

80.88%

NIL

NIL

150 681 794

63.40%

86 974 643

36.60%

Mokhathi as Director of the

FOR

Company

until

the

next

Annual Meeting.

7

To re-appoint Mr

Alan

237 656 437

80.88%

NIL

NIL

150 681 794

63.40%

86 974 643

36.60%

Mitchell Clegg as Director of

the Company until the next

FOR

Annual Meeting.

8

To re-appoint Mr Temo

237 656 437

80.88%

NIL

NIL

237 656 437

100%

NIL

NIL

Timothy

Bolokwe

as

Director

of

the

Company

FOR

until the

next

Annual

Meeting.

9

To re-appoint Ms Joshna

237 656 437

80.88%

NIL

NIL

226 936 695

95.49%

10 719 742

4.51%

Ramah Goordiah as Director

FOR

of the Company until the

next Annual Meeting.

10

To re-appoint Mr Praveen

237 656 437

80.88%

NIL

NIL

226 936 695

95.49%

10 719 742

4.51%

Beeharry as Director of the

FOR

Company

until

the

next

Annual Meeting.

11

To

approve

the

237 656 437

80.88%

NIL

NIL

233 414 241

98.21%

4 242 196

1.79%

remuneration

of

the

directors

for

the ensuing

FOR

financial

year ending

30

June 2023.

12

To receive,

consider

and

237 656 437

80.88%

NIL

NIL

237 656 437

100%

NIL

NIL

adopt the audited financial

FOR

statements

including

the

report from the auditors for

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Grand Baie Business Quarters

Chemin Vingts Pied

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Republic of Mauritius

the year ended 30 June

2021 and 30 June 2022.

13

To

re-appoint

Grant

237 656 437

80.88%

NIL

NIL

150 681 794

63.40%

86 974 643

36.60%

Thornton as Auditors of the

FOR

Company to hold office until

the next annual meeting.

14

To authorise directors to fix

237 656 437

80.88%

NIL

NIL

237 656 437

100%

NIL

NIL

the remuneration of Grant

Thornton for the year ended

FOR

30 June 2023.

Special Resolutions

15

To

seek

approval

from

237 656 437

80.88%

NIL

NIL

236 573 893

99.54%

1 082 544

0.46%

shareholders to waive pre-

emptive rights on new issue

of shares pursuant to Clause

6(e) of the Constitution of

the

Company,

from

4

August 2023 to 3 August

2024.

As

in

previous

years

this

FOR

waiver

shall

allow

the

company

to

exercise

its

activities

efficiently

when

carrying

out

its

normal

business

of

developing

energy assets in Botswana

and

facilitate

the effective

funding of its projects. Any

such issuance of new shares

will

only

be

undertaken

subject to compliance with

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Grand Baie Business Quarters

Chemin Vingts Pied

Grand Bay, 30529

Republic of Mauritius

	the	BSE		Listing
	Requirements.
16	To seek	approval	from 237 656 437	80.88%	NIL	NIL	237 656 437	100%	NIL	NIL
	shareholders pertaining to
	the proposal to transfer the
	incorporation	of	the
	Company from Mauritius to
	Botswana,	under	section
	301 of the Companies Act
	2001 which shall entail a
	transfer of the	registered
	office,		principal							FOR
	establishment,		central
	administration and effective
	place of management of the
	Company from Mauritius to
	Botswana,	subject	to the
	Company satisfying all legal
	and		regulatory
	requirements.

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