Last checked at 30 May 2022 11:39
Adriatic Metals PLC
("Adriatic" or the "Company")
RESULT OF ANNUAL GENERAL MEETING
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) held its Annual General Meeting ("AGM") at 10.00am BST on 30 May 2022 at Regent House, 65 Rodney Road, Cheltenham GL50 1HX.
Each of the resolutions contained in the Notice of Meeting was put to the AGM and voted on by way of a poll. All were duly approved. The total number of votes received on each resolution put to the AGM was as follows:
| Resolution | Votes FOR1 | % | Votes AGAINST | % | Votes WITHHELD2 |
| ORDINARY RESOLUTIONS |
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1 | approve the Annual report for the 12 months ended 31 December 2021 | 95,922,778 | 98.87 | 14 | 0.00 | 151,926 |
2 | Approve the Annual Report on Remuneration | 94,253,778 | 97.16 | 1,661,028 | 1.71 | 159,913 |
3 | Re-elect Paul Cronin as a Director | 92,297,470 | 95.13 | 3,621,699 | 3.73 | 147,824 |
4 | Re-elect Sandra Bates as a Director | 89,392,813 | 92.14 | 6,534,028 | 6.73 | 147,877 |
5 | Re-appoint BDO LLP as Auditor | 95,919,337 | 98.87 | 1,514 | 0.00 | 153,867 |
6 | Authorise the Audit & Risk Committee to determine remuneration of the Auditor | 95,885,897 | 98.84 | 14,744 | 0.02 | 153,877 |
7 | Authorise Directors to allot shares under s551 Companies Act 2006 | 95,878,470 | 98.83 | 37,424 | 0.04 | 158,824 |
8 | Authorise the prior issue of 166,000 Shares to Cuprum Plus Ltd | 95,903,695 | 98.85 | 20,141 | 0.02 | 150,682 |
9 | Authorise the prior issue of 40,039 Shares to Sandfire Resources Limited | 95,908,051 | 98.86 | 12,044 | 0.01 | 154,554 |
10 | Re-approve, for the purposes of ASX Listing Rule 7.2 exception 13(b) the existing ESOPs and the issue of up to 26,637,924 Equity Securities | 79,450,338 | 98.63 | 8,694 | 0.01 | 1,514,554 |
11 | Authorise the amendment of terms and conditions to the Options issued to Michael Rawlinson | 88,916,244 | 91.66 | 6,999,805 | 7.22 | 158,182 |
12 | Authorise the amendment of terms and conditions to the Options issued to Sandra Bates | 88,916,731 | 91.66 | 6,999,805 | 7.22 | 158,182 |
SPECIAL RESOLUTIONS | ||||||
13 | Authority to disapply pre-emption rights on allotment of shares | 95,864,218 | 98.83 | 41,868 | 0.04 | 168,632 |
14 | Authority to purchase own shares | 90,960,747 | 93.77 | 4,944,989 | 5.10 | 168,632 |
15 | Notice period for General Meetings other than Annual General Meetings | 95,797,314 | 98.75 | 120,222 | 0.12 | 157,182 |
1. The "For" proxy vote includes those giving the Chairman discretion.2. A vote "Withheld" is not a vote in law and is not counted in the calculation of the proxy votes "For" or "Against" the resolution.
The total number of ordinary shares in issue on 26 May 2022, the deadline for casting votes by proxy in advance of the AGM, was 266,379,240 shares. 36% of voting capital, including votes withheld, was instructed in respect of the resolutions put to the AGM.
The full text of the resolutions can be found in the Notice of Annual General Meeting, which is available on the Company's website at https://www.adriaticmetals.com/2022-agm/
In accordance with the UK Listing Authority's Listing Rule 9.6.2, copies of all the resolutions passed by the Company's shareholders, other than ordinary business will be submitted to the National Storage Mechanism and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
** ENDS **
Market Abuse Regulation Disclosure
The information contained within this announcement is deemed by Adriatic (LEI: 549300OHAH2GL1DP0L61) to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.
Authorised by Paul Cronin, Managing Director & CEO
For further information please visit www.adriaticmetals.com, @AdriaticMetals on Twitter, or contact:
Bobby Morse / Ariadna Peretz | Tel: +44 (0) 207 466 5000 adriatic@buchanan.uk.com
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ABOUT ADRIATIC METALS
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that is advancing the world-class Vares Silver Project in Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia.
The Vares Silver Project is fully-funded to production, which is expected in Q2 2023. The 2021 Project Definitive Feasibility Study shows robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. Concurrent with ongoing construction activities, the Company continues to explore across its highly prospective 42km2 concession package.
There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 19 August 2021 DFS announcement and these assumptions continue to apply and have not materially changed. Adriatic Metals is not aware of any new information or data that materially affect the information included in the announcement of the updated Mineral Resource Estimate announced on 1 September 2020 and all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.