RE: AGM17 Nov 2021 10:47
Morning,
These are questions that I have submitted;
1) The 2020 Annual Report Corporate Governance Principle 2 states “We do so via…… maintaining regular updates on the Companys FAQ page………..
On that basis, please explain why the FAQ have not been updated since May 2019.
2) The 2020 Annual Report stated that Brian Savage received “fees” of $172k compared to $52k (2019) and $57k (2018).
Please explain the reason for this increase in “fees” of $120k (2020 v 2019) and why it was justified.
3) Adam Habib was appointed as President and Executive Board Member on 2nd September 2020, and “resigned” on 10th December 2020. He received a salary of $153k and attended 4 board meetings.
As the 2020 AGM was conducted with “restricted attendance”, please explain how the shareholder vote for the resolutions at the 2020 AGM was undertaken. Further, please confirm who was the Chairman of the meeting. Please confirm did the Chairman of the meeting, in the role as proxy for shareholders vote for, or against, the resolution to reappoint Adam Habib as a Director of the Company.
4) The Annual General Meeting Results RNS, dated 10th December 2020, stated “The Company is consulting with its BVI and UK Lawyers on the implications of the shareholder vote and will make a further statement in due course”……..
As such, please could you explain why no further statement was has been made and also provide an update as regards the implications of the shareholder vote.
5) The Mine Plan is due by 1st June 2023. However, The Group’s Exploration and Mine Production licence is only valid until 1 July 2035.
What is the process (and expected cost) to renew/extend this licence and when is it likely to be requested?
6) The Kun-Manie TEO Submitted For Review RNS , dated 20th August, stated “Key portions of the report remain to be translated from Russian. Upon completion of the translation, a comparative analysis of the results generated by Oreall for the TEO and the independently compiled February 2019 Pre-Feasibility Study ("PFS") will be provided".
As such, please could you confirm whether the translation from Russian has now been completed. If so, why has the comparative analysis of the results as not been provided to shareholders. Further, when will it actually be provided to shareholders.
7) The Kun-Manie Production Licence Awarded RNS, dated 22nd May 2015, states “The licence grants our wholly owned subsidiary ZAO Kun-Manie the rights to recover all value from the mineral defined to be present at Kun-Manie.”
Please can you confirm that there are no stipulations/restrictions within the awarded licence that would prevent either the takeover of AMC or the sale of ZAO Kun-Manie by/to another (non-Russian) Company.
BB2.
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