Danie de Wet gets in through the front door 27 February 2008

KWV director now elected by shareholders

 

After the October 2007 Annual General Meeting of KWV Ltd, Mr Danie de Wet was appointed to the Board of the KWV, after a recount of votes revealed that he had failed to be elected to sit on it. At the time, when his appointment took place and he was made the KWV chair once more, he agreed to this move only if he were allowed to stand for election. He was quoted in Business Report as saying that ‘I can't do what I'm doing if I'm not 100 percent sure that it's the wish of the shareholders’, and that it appeared that his appointment was blocking a vacancy for Phetogo, KWV's black economic empowerment partner, to get a seat on the board.

It was remarked by some observers at the time that Mr de Wet was taking the honourable course in his determination to seek a proper electoral victory.

A special general meeting was therefore held yesterday (26 February 2008) to allow De Wet to make himself available to be elected as a director. At the meeting he received 67.9 percent of the shares voted (with some 65 percent of the total isued shares taking part in the vote). A total of 233 shareholders voted for him, nine against, and four (making a substantial percentage) abstained.