Last checked at 24 Nov 2023 07:00
Base Resources Limited - Results of 2023 Annual General MeetingBase Resources Limited - Results of 2023 Annual General Meeting
PR Newswire
LONDON, United Kingdom, November 24
AIM and Media Release
24 November 2023
Base Resources Limited Results of 2023 Annual General Meeting
Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) advises that the results of the resolutions put to Base Resources shareholders at today’s meeting are set out in the table below.
All resolutions put to the meeting were decided by poll and were carried, other than items 1 and 5 which were not carried.
Items 1 and 5 both concerned remuneration-related matters, with item 1 seeking adoption of the Company’s remuneration report for the 2023 financial year. As 25% or more of the votes cast on item 1 were against the resolution, this constitutes a ‘first strike’ for the purposes of the Corporations Act 2001 (Cth).
The Board will seek to further engage with shareholders to understand their rationale for voting against these remuneration related items. In the event that their voting decisions were driven by concerns with Base Resources’ remuneration policy and practices, the Board will take these matters into account as part of its consideration of the Company’s future remuneration policy and practices.
Resolution details | Instructions given to validly appointed proxies (as at proxy close) | Number of votes cast on the poll (where applicable) | Resolution Result | ||||||
Resolution | Resolution Type | For | Against | Proxy's Discretion | Abstain | For | Against | Abstain1 | Carried / Not Carried |
Item 1 Adoption of the Remuneration Report | Ordinary | 195,355,406 24.37% | 605,692,843 75.59% | 290,555 0.04% | 88,514 | 199,193,020 24.69% | 607,597,503 75.31% | 853,514 | Not Carried |
Item 2 Re-election of Mr Michael Stirzaker as a Director | Ordinary | 502,122,708 99.67% | 1,229,016 0.24% | 423,889 0.09% | 312,445,703 | 520,075,292 99.44% | 2,929,016 0.56% | 312,445,703 | Carried |
Item 3 Re-election of Mr Malcolm Macpherson as a Director2 | Ordinary |
Item withdrawn. Director did not seek re-election. | |||||||
Item 4 Election of Ms Sheila Khama as a Director | Ordinary | 814,797,446 99.83% | 1,097,457 0.13% | 317,489 0.04% | 8,924 | 832,628,630 99.67% | 2,797,457 0.33% | 23,924 | Carried |
Item 5 Approval of the Grant of Performance Rights to Mr Tim Carstens | Ordinary | 196,582,803 37.84% | 322,541,872 62.10% | 272,389 0.06% | 296,824,252 | 204,970,394 38.66% | 325,212,532 61.34% | 305,267,085 | Not Carried |
Note (1): Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.
Note (2): As at today’s date, Mr Macpherson did not own or control any Base Resources securities.
ENDS.
For further information contact:
Australian Media Relations | UK Media Relations |
Citadel Magnus | Tavistock Communications |
Cameron Gilenko and Michael Weir | Jos Simson and Gareth Tredway |
Tel: +61 8 6160 4900 | Tel: +44 207 920 3150 |
About Base Resources
Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance. The Company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar. Base Resources is an ASX and AIM listed company. Further details about Base Resources are available at www.baseresources.com.au.
PRINCIPAL & REGISTERED OFFICELevel 3, 46 Colin StreetWest Perth, Western Australia, 6005Email: info@baseresources.com.auPhone: +61 8 9413 7400Fax: +61 8 9322 8912
NOMINATED ADVISER & JOINT BROKERCanaccord Genuity LimitedJames Asensio / Raj Khatri / George GraingerPhone: +44 20 7523 8000
JOINT BROKERBerenbergMatthew Armitt / Detlir EleziPhone: +44 20 3207 7800
