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Voted on AGM yesterday. My shares are held by 'ii' and today is the last day you can vote by proxy on their website. Anyone who is going to vote should probably do so straight away.
Amongst other items I voted down any right to create or allocate new shares. Don't see why that is needed with so much cash in bank.
Some may think voting in AGM is pointless, but I agree with nomad that it will put a shot across the board's bows if we get some numbers.
Thanks, and done!
No.3.
What are the new share incentive schemes? And should we be voting against this?
@skythelimit - yes just put heading AGM Bacanora 30June 2021 and list each resolution with your vote.
I have voted yes to 1,4 and 5. The rest No
@ nomadinvester - thank you for the explanation
So I can vote via the HL app?
Is there a specific subject & format the message must have? Do we just refer to each point and write YES/NO?
Same here for me 6-7-9 NO
I recommend we do a co-ordinated vote at the AGM to vote down resolution 6,7,8,9. Let's test the numbers we have in the group that are willing to vote and send a message to the board PRIOR to Ganfeng submitting an offer. If over 10% vote against reelecting two of the board members, it will make them think again in terms of recommending the offer.
Redroo - "special res 9. To disapply the statutory pre-emption rights on allotment of shares" means the directors are authorized to allot shares up to a nominal £12m (BCN nom value is 10p, so that is 120m shares). The special resolution, allows them to do so without offering existing shareholders the same terms or preemption rights (section 570 of companies act allows them to waiver section 561). Compare this to last year when the company inserted a special resolution to buy back up to 10% of it's own shares!
only those? I would only vote yes to 1,2 & 4 given the company hasn't been forthcoming with ANY information id like to know.
Dee - unless there is a satisfactory explanation of res.9, I will vote against this and 6 & 7.
Can anyone explain the special resolution?
Resolution 6 and 7: If the two directors were retiring why would they be wanting to be re-elected unless they see a big bonus rollout on takeover.
Here are resolutions to vote on at agm.
HL allows voting via secure message on their app as long as instructions are received 5 days before the event. Please vote and get used to the procedure before the big event of takeover vote!
ORDINARY RESOLUTIONS
1. To receive the Annual Report and Financial Statements for the year ended 31 December 2020
2. To receive and approve the Report of the Remuneration Committee for the year ended 31 December 2020
3. To approve the terms of the new Share Incentive Schemes
4. To re-appoint BDO LLP as auditors
5. To authorise the Directors to agree and fix the auditors' remuneration
6. To re-elect Jamie Strauss as a Director
7. To re-elect Andres Antonius as a Director
8. To authorise the Directors to allot Ordinary Shares
SPECIAL RESOLUTIONS
9. To disapply the statutory pre-emption rights on allotment of shares
For Against Vote Withheld