Scales : 2016 Annual Shareholders Meeting Results

Microsoft Word - Results of Scales Corp Annual Shareholders Meeting 2016

9 June 2016

Results of Scales Corporation Limited 2016 Annual Shareholders' Meeting

Scales Corporation Limited held its 2016 annual meeting in Christchurch at 4.30pm on 8 June.

Resolutions

All resolutions considered by shareholders at the meeting were passed. Details of the number of votes cast, by poll, were as follows:

1. To record the reappointment of Deloitte as auditor of the Company and to authorise the Directors to fix the auditor's remuneration for the coming year.

   For:	66,511,697
   Against:	96,008
   Abstain:	4,730

2. To re-elect Mark Hutton as a Director.

   For:	62,751,671
   Against:	3,297,952
   Abstain:	562,812

3. To re-elect Alan Isaac as a Director.

For:	66,429,900
Against:	172,100
Abstain:	10,435

4. That the maximum total pool of Directors' remuneration be increased from

$400,000 to $440,000 per annum taken together, until such time as this amount be altered by a further ordinary resolution of shareholders. Such sum to be divided amongst the Directors at the discretion of the Board of Directors.

For:	63,255,775
Against:	433,075
Abstain:	2,923,585

Governance

The following governance matters were also announced at the meeting:

• Jon Mayson gave notice of his intention to stand down as Scales' Chairman at the 2017 Annual Meeting.

• With regard to succession planning, Tim Goodacre had been appointed as Scales' Deputy Chairman.

• Under the Institute of Directors' Future Director programme, Liz Muller had been appointed as Scales' first participant in the programme.

For further information contact: Steve Kennelly

Chief Financial Officer Scales Corporation Limited

[phone] / [phone]

www.scalescorporation.co.nz