23 Nov 2011 08:07
International Ferro Metals Limited
("IFL" or the "Company")
RESOLUTIONS PASSED AT ANNUAL GENERAL MEETING HELD ON 23 NOVEMBER 2011
Please find attached a copy of the resolutions passed at the Annual General Meeting of the company held today. As required by the Company's constitution all resolutions were put to the vote by a show of hands of the shareholders present in person at the meeting.
PROXY VOTES AT ANNUAL GENERAL MEETING HELD ON 23 NOVEMBER 2011
Proxies | In Favour | Against | Abstain |
Item 1 | 240,368,756 | 70,012,564 | 22,474,618 |
Item 2 | 319,235,513 | 13,448,965 | 171,460 |
Item 3 | 314,218,609 | 12,145,964 | 6,491,365 |
Item 4 | 332,255,713 | 595,432 | 4,793 |
Item 5 | 219,270,457 | 113,470,466 | 115,015 |
Item 6 | 262,823,678 | 65,186,248 | 4,846,012 |
Item 7 | 332,697,616 | 132,755 | 25,567 |
For more information please visit the Company's website, www.ifml.com or contact:
International Ferro Metals Limited
Chris Jordaan, Chief Executive Officer
Mob: + 27 (0) 82 653 1463
About International Ferro Metals
International Ferro Metals produces ferrochrome, the essential ingredient in stainless steel, from its integrated chromite mine and ferrochrome processing operations in South Africa. International Ferro Metals is listed on the London Stock Exchange under the symbol IFL.
RESOLUTIONS PASSED AT ANNUAL GENERAL MEETING HELD ON 23 NOVEMBER 2011
Resolution
"That, the Remuneration Report contained in the Financial Statements for the financial year ended 30 June 2011 is adopted."
Resolution
"That, in accordance with clause 21.3 of the Constitution of the Company, Mr Terence Willsteed retires by rotation, and being eligible, is re-elected as a Director of the Company".
Resolution
"That, in accordance with clause 21.3 of the Constitution of the Company, Ms Tian Xia retires by rotation, and being eligible, is re-elected as a Director of the Company".
Resolution
"That, Mr Christiaan Jordaan, having been appointed as a Director of the Company since the last annual general meeting, who retires in accordance with clause 20.5 of the Constitution of the Company and being eligible, is elected as a Director of the Company".
Resolution
"That, subject to the approval of Resolution 4, for the purposes of the Listing Rules of the London Stock Exchange and for all other purposes, the issue under the Company's Performance Rights Plan to Mr Christiaan Jordaan (a Director of the Company) or his nominee, of 4,000,000 rights to subscribe for fully paid ordinary shares in the Company on the terms (including as to the exercise price) set out in the attached Explanatory Memorandum accompanying this Notice of Annual General Meeting and the issue to Mr Christiaan Jordaan of fully paid ordinary shares in the capital of the Company upon the full or partial exercise of such rights, is hereby approved."
Resolution
"That, subject to the approval of Resolution 4, for the purposes of the Listing Rules of the London Stock Exchange and for all other purposes, the issue under the Company's Performance Rights Plan to Mr Christiaan Jordaan (a Director of the Company) or his nominee, of such number of rights to receive fully paid ordinary shares in the Company as is equivalent to the value of ZAR6,000,000 calculated as set out in the attached Explanatory Memorandum and subject to the Company achieving certain performance targets and otherwise on the terms set out in the attached Explanatory Memorandum accompanying this Notice of Annual General Meeting, and the issue to Mr Christiaan Jordaan of fully paid ordinary shares in the capital of the Company upon the full or partial exercise of such rights, is hereby approved."
Resolution
"That, in addition to any rights to subscribe for or receive fully paid ordinary shares in the Company authorised to be issued under Resolutions 5 and 6, the Directors be and are hereby authorised to allot equity securities for cash in accordance with clause 3 of the Constitution of the Company provided that such powers shall be limited to the allotment of up to 27,700,402 equity securities (such authority to expire at the conclusion of the next Annual General Meeting of the Company or if earlier, 30 November 2012). The foregoing power shall allow and enable the Directors to make an offer or agreement before the expiry of that power which would or might require securities to be allotted after such expiry and the directors may allot equity securities pursuant to any such offer or agreement as if the power conferred hereby had not expired."