Item 5.07 - Submission of Matters to a Vote of Security Holders
As previously announced, Bunge Limited, an exempted company limited by shares incorporated under the laws of Bermuda (“Bunge”):
•intends to change the place of incorporation and residence of the parent company of the Bunge Group from Bermuda to Switzerland through a Bermuda law Scheme of Arrangement (the “Redomestication”); and
•entered into a Business Combination Agreement (the “Business Combination Agreement”) on June 13, 2023 with Viterra Limited, a private company limited by shares incorporated under the laws of Jersey (“Viterra”), Danelo Limited, a private company incorporated in Jersey (“Glencore”), CPPIB Monroe Canada, Inc., a company incorporated in Canada (“CPPIB”), Venus Investment Limited Partnership, a limited partnership formed under the laws of the Province of Manitoba, Canada (“BCI”), and Ocorian Limited, a private company incorporated in Jersey (collectively with Glencore, CPPIB and BCI, the “Sellers”), pursuant to which Bunge will acquire all of the issued and outstanding shares of Viterra from the Sellers (the “Acquisition”) and Bunge will issue approximately 65.6 million common shares, par value $0.01 per share, of Bunge (“Bunge Shares”) to the Sellers as a portion of the consideration for the Acquisition.
On October 5, 2023, Bunge held a virtual Extraordinary General Meeting of shareholders (the “Extraordinary General Meeting”) to vote on the proposals identified in Bunge’s definitive proxy statement filed with the U.S. Securities and Exchange Commission on August 7, 2023, and mailed to Bunge’s shareholders on August 7, 2023, including approval for the Redomestication and the Acquisition.
As of August 3, 2023, the record date for the Extraordinary General Meeting, there were 150,642,387 Bunge Shares issued and outstanding. At the Extraordinary General Meeting, a total of 119,456,917 Bunge Shares were present in person or by proxy, representing 79.29% of the total number of shares outstanding and entitled to vote at the Extraordinary General Meeting and a quorum for all matters before the shareholders as required by Bunge’s Bye-laws.
The number of votes cast for and against, as well as abstention votes and broker non-votes, as applicable, with respect to each proposal presented at the Extraordinary General Meeting was as follows:
Proposal No. 1: Approval of the Redomestication
The shareholders approved the Redomestication as follows:
| | | | | | | | | | | |
Votes For | Votes Against | Abstentions | Broker Non-Votes |
118,354,373 | 1,033,356 | 69,188 | N/A |
Proposal No. 2: Approval of the Acquisition
The shareholders approved the Acquisition, including the issuance of the Bunge Shares, as follows:
| | | | | | | | | | | |
Votes For | Votes Against | Abstentions | Broker Non-Votes |
117,850,138 | 1,251,315 | 355,464 | N/A |
Proposal No. 3: Approval to adjourn the Extraordinary General Meeting to a later date to solicit additional proxies if there are insufficient votes at the time of the Extraordinary General Meeting to approve the Redomestication or the Acquisition
The shareholders approved the proposal to adjourn the Extraordinary General Meeting, if necessary, to continue to solicit additional proxies to approve the Redomestication or the Acquisition as follows:
| | | | | | | | | | | |
Votes For | Votes Against | Abstentions | Broker Non-Votes |
108,845,175 | 10,436,270 | 175,472 | N/A |
However, because the proposals related to the Redomestication and the Acquisition were approved, the adjournment of the Extraordinary General Meeting was not necessary to continue to solicit additional proxies and, accordingly, the Extraordinary General Meeting was not adjourned.
The Redomestication to Switzerland remains subject to various conditions, including the approval of the Supreme Court of Bermuda, and is expected to be completed later this year, prior to completing the Acquisition. The closing of the Acquisition remains subject to customary closing conditions, including receipt of regulatory approvals.