Shareholders are advised that at the General Meeting held on Friday, 21 October 2022, convened to consider and approve the Scheme Resolution and the Delisting Resolution, all of the resolutions tabled were approved by the requisite majority of Massmart Shareholders present or represented by proxy and entitled to vote thereon.

In case you missed the big news on Friday, Massmart shareholders approved the resolutions related to the buyout by Walmart of the retailer. It’s rare to see an approval rating this high, with 99.98% of the vote being cast in favour of the scheme.

Although other conditions still need to be met, this is a huge step forward for Walmart in its plan to improve Massmart’s operations away from the public eye.

You’ll find the detailed announcement below: