11 Jun 2020 11:46
11 June 2020
Bacanora Lithium plc
("Bacanora" or the "Company")
Result of AGM
Bacanora Lithium plc (AIM: BCN), a lithium exploration and development company, announces that at its annual general meeting ("AGM") held earlier today, all resolutions were duly passed, as follows:
Resolution | Votes for | Votes Against | Approval | Withheld |
Ordinary Resolutions | Shares | Shares | % | Shares |
1. Receive the Annual report and financial statements for the six months to 31 December 2019 | 129,644,121 | 503,791 | 99.6% | 6,500 |
2. Re-appoint BDO LLP as auditors | 130,144,530 | 3,382 | 100.0% | 6,500 |
3. Authorise Directors to agree and fix auditors' remuneration | 130,147,530 | 382 | 100.0% | 6,500 |
4. Re-elect Peter Secker as Director | 126,968,592 | 315,989 | 99.8% | 8,091 |
5. Re-elect Eileen Carr as Director | 129,611,679 | 534,642 | 99.6% | 8,091 |
6. Re-elect Graeme Purdy as Director | 130,110,960 | 35,361 | 100.0% | 8,091 |
7. Authorise the Directors to allot Ordinary Shares | 122,732,162 | 6,917,250 | 94.7% | 505,000 |
Special Resolutions
| ||||
8. Disapply the statutory pre-emption rights on allotment of shares | 119,481,640 | 7,804,826 | 93.9% | 6,206 |
9. Authorise the Company to make market purchases to buy-back shares | 121,750,007 | 5,536,459 | 95.7% | 6,206 |
10. Authorise the Company to amend its Articles | 122,209,953 | 5,033,266 | 96.0% | 49,453 |
As shareholders were not able to attend this year's AGM in person, as previously announced, the Company has produced a Q&A document to answer relevant questions raised by shareholders. The document is available to view on the Company's website: https://www.bacanoralithium.com/investor-relations/agm-documents/. The Company will host a call for shareholders later in H2 2020.
** ENDS **
For further information please visit www.bacanoralithium.com or contact:
Bacanora Lithium plc Peter Secker, CEO Janet Blas, CFO
| info@bacanoralithium.com |
Cairn Financial Advisers LLP, Nomad Sandy Jamieson / Liam Murray
| +44 (0) 20 7213 0880 |
Citigroup Global Markets, Joint Broker Tom Reid / Patrick Evans / Matthew Kenney
| +44 (0) 20 7986 4000 |
Canaccord Genuity, Joint Broker James Asensio / Edward Montgomery
| +44 (0) 20 7523 8000 |
Tavistock, Financial PR Adviser Jos Simson / Emily Moss / Oliver Lamb | Bacanora@tavistock.co.uk +44 (0) 20 7920 3150 +44 (0) 77 8855 4035 |
Notes to editors
Bacanora Lithium Plc is an AIM-listed (ticker 'BCN') lithium development and exploration company. The Company owns assets in Mexico and Germany. It is focused on building, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world's largest lithium metals producer), a 35,000 tonne per annum open pit lithium carbonate operation at its flagship asset, the Sonora Lithium Project in Mexico. The Sonora Lithium Project has 8.8 million tonnes of lithium carbonate (Li2CO3) equivalent resources, with an approximate 250 year resource life, as detailed in its December 2017 Feasibility Study.
Sonora Lithium Ltd ("SLL") is the operational holding company for the Sonora Lithium Project and owns 100% of the La Ventana concession. The La Ventana concession accounts for 88% of the mined ore feed in the Sonora Feasibility Study which covers the initial 19 years of the project mine life. SLL is owned 77.5% by Bacanora and 22.5% by Ganfeng Lithium Ltd. SLL also owns 70% of the El Sauz and Fleur concessions.
In addition, the Company has a 50% interest in the Zinnwald Lithium Project and the Falkenhain and Altenberg Licences in southern Saxony, Germany.
Important notice
The contents of this announcement have been prepared by and are the sole responsibility of Bacanora.