4 Dec 2013 15:02
4 December 2013
Beacon Hill Resources Plc / AIM: BHR / ASX: BHU / Sector: Mining
Beacon Hill Resources Plc ('Beacon Hill or 'the Company')
RESULTS OF GENERAL MEETING AND BOARD CHANGES
On 4 October 2013 and 25 October 2013, the Board announced that the Company had agreed terms to raise up to approximately US$19.4m (approximately £12.0m*) by the issue of Loan Notes to Darwin Strategic Limited and certain Shareholders, including Latitude Zero Financial Investment Fund. As announced at the time, the issue of certain Loan Notes under this fundraising is subject to the passing of certain resolutions set out in the notice of general meeting ("Notice of General Meeting") dated 15 November 2013.
Additionally, the granting of 4,301,075 Options to Murray d'Almeida, Senior Independent Non-Executive Director, in lieu of a waiver by him of his annual Non-Executive Director's fee for the coming year, was also subject to the passing of a resolution as set out in the Notice of General Meeting. Mr d'Almeida would hold 15,501,075 Options following the grant.
The Board of Beacon Hill is pleased to announce that at the General Meeting of the Company held earlier today, all of the resolutions set out in the Notice of General Meeting were duly passed. As a result, the Loan Notes to be issued to certain shareholders, including Latitude Zero Financial Investment Fund, will today be issued, and the Options referred to above will today be granted to Mr d'Almeida. Whilst the necessary shareholder approval for the issue of further tranches of Loan Notes to Darwin Strategic Limited has been obtained, such issue will be subject to the mutual agreement of the Company and Darwin Strategic Limited.
Set out below are the proxies received in respect of each resolution.
Resolution No. | In Favour (% of votes cast) | Discretion (% of votes cast) | Against (% of votes cast) | Withheld
|
1 | 97.26% | 0.98% | 1.76% | 3,505,000 |
2 | 97.26% | 0.98% | 1.76% | 3,505,000 |
3 | 97.26% | 0.98% | 1.76% | 3,505,000 |
4 | 97.26% | 0.98% | 1.76% | 3,505,000 |
5 | 98.99% | 0.98% | 0.03% | 5,000 |
6 | 97.27% | 0.98% | 1.76% | 12,630 |
NB: Percentage of Votes cast excludes Withheld votes
*based on an exchange rate of 0.617 Pound Sterling per US Dollars as at 4 October 2013
The Board also announces that Nicholas von Bruemmer has resigned from the Board of Directors. The Board would like to extend its gratitude to Mr. von Bruemmer for his service to the Company.
For further information, please contact: | |
Beacon Hill Resources Plc | |
Justin Farr-Jones, Chairman (jfarr-jones@bhrplc.com) Rowan Karstel, Managing Director (rowan.karstel@bhrplc.com) | + 44 1372 464 549
|
Canaccord Genuity Limited (Nominated Adviser and Broker) | |
Neil Elliot / Joe Weaving | +44 20 7523 8000 |
St Brides Media & Finance Limited (Financial Public Relations) Susie Geliher / Elisabeth Cowell |
+44 20 7236 1177 |