South African information technology company Dimension Data said on Thursday that it is to limit the maximum number of shares to be issued by a general authority, which expires at the earlier of the next AGM or April 2010, to 5% of the issued share capital at end September 2008, being 84,722,950 ordinary shares.
The group said in a statement that all resolutions were passed by the requisite majority of shareholders at the annual general meeting held on 28 January.
Prior to the AGM Resolution number 11, relating to the issue of shares for cash, was withdrawn.
With regard to Resolution 10, the Chairman stated that the company was aware of some shareholders’ reservations with regard to the general authority to allot shares.
Following consultation with certain shareholders, Didata has therefore committed itself to limit the maximum number of shares to be issued under this authority to 5% of the issued share capital at 30 September 2008, being 84,722,950 ordinary shares.
Any issue in excess of this number, will be put to all shareholders for prior approval, it said.