Grindrod Shipping Holdings Ltd. Announces Results of the Extraordinary General Meeting Held on June 20, 2024

Core Viewpoint - Grindrod Shipping Holdings Ltd. held an extraordinary general meeting to approve a selective capital reduction, which aims to reduce the company's issued share capital and return cash to participating shareholders [1][4]. Group 1: Extraordinary General Meeting (EGM) Details - The EGM took place on June 20, 2024, with a quorum achieved by 1,504,373 shares, representing approximately 46.067% of the shares entitled to vote [2]. - Good Falkirk (MI) Limited and its concert parties, holding 16,419,947 shares, abstained from voting at the EGM [2]. Group 2: Selective Capital Reduction Proposal - The SCR Proposal involves reducing the issued share capital from US$290,193,001 (19,685,590 shares) to US$240,614,044 (16,206,365 shares) [3]. - The reduction will cancel US$49,578,956 of paid-up share capital held by participating shareholders, who will receive US$14.25 per share for the 3,479,225 shares cancelled [3]. Group 3: Voting Results - The SCR Proposal was approved with 1,434,605 shares (95.714%) voting in favor, 64,241 shares (4.286%) against, and 5,527 shares (0.367%) abstaining [5][6]. Group 4: Company Overview - Grindrod Shipping operates a diversified fleet of drybulk vessels and is based in Singapore, with additional offices in London, Durban, and Tokyo [7]. - The company is listed on NASDAQ under the ticker "GRIN" and on the JSE under the ticker "GSH" [7].