21 Nov 2012 07:00
International Ferro Metals Limited
("IFL" or the "Company")
RESOLUTIONS PASSED AT ANNUAL GENERAL MEETING HELD ON 21 NOVEMBER 2012
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 21 NOVEMBER 2012
Proxies | In Favour | Against | Abstain | Discretion |
Item 1 | 277,723,139 | 32,410,305 | 32,414,934 | 18,285 |
Item 2 | 325,836,164 | 11,236,975 | 2,325,239 | 3,168,285 |
Item 3 | 319,953,822 | 17,119,317 | 2,325,239 | 3,168,285 |
Item 4 | 326,223,015 | 10,850,124 | 2,325,239 | 3,168,285 |
Item 5 | 336,997,915 | 80,224 | 2,320,239 | 3,168,285 |
Item 6 | 336,819,598 | 91,874 | 2,486,906 | 3,168,285 |
Item 7 | 327,052,941 | 290,127 | 12,055,310 | 3,168,285 |
Item 8 | 336,981,808 | 88,331 | 2,328,239 | 3,168,285 |
Item 9 | 336,984,217 | 85,922 | 2,328,239 | 3,168,285 |
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 21 NOVEMBER 2012
Resolution
"That, the Remuneration Report contained in the Financial Statements for the financial year ended 30 June 2012 is adopted."
Resolution
"That, in accordance with clause 21.3 of the Constitution of the Company, Mr Stephen Turner 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, Mr Stephen Oke 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, Mr John Ballard retires by rotation, and being eligible, is re-elected as a Director of the Company".
Resolution
"That, in addition to any rights to receive fully paid ordinary shares in the Company authorised to be issued under Resolutions 7 to 9, 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 2013). 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."
Resolution
"That, in accordance with clause 22.1 of the Constitution, the maximum aggregate amount of cash remuneration which may be provided by the Company to all non-executive directors of the Company for their services as non-executive directors of the Company be increased to £1,000,000 a year, with effect from the financial year commencing on 1 July 2012."
Resolution
"That for the purposes of the LSE Listing Rules and all other purposes, the adoption of the Company's Long Term Incentive Plan (LTIP) on the terms set out in the Explanatory Memorandum accompanying the Notice of Meeting, and the issue of performance rights to participants entitling them to receive fully paid ordinary shares in the Company subject to satisfaction of certain performance targets and upon vesting of such performance rights under the LTIP, is hereby approved."
Resolution
"That, subject to the approval of Resolution 7, for the purposes of the LSE Listing Rules and for all other purposes, the issue under the Company's LTIP to Mr Jannie Muller (a Director of the Company) or his nominee, of 650,068 performance rights entitling him to receive fully paid ordinary shares in the Company subject to satisfaction of certain performance targets and otherwise on the terms set out in the Explanatory Memorandum accompanying the Notice of Annual General Meeting, is hereby approved."
Resolution
"That, subject to the approval of Resolution 7, for the purposes of the LSE Listing Rules and for all other purposes, the issue under the Company's LTIP to Mr Xiaoping Yang (a Director of the Company) or his nominee, of 599,229 performance rights entitling him to receive fully paid ordinary shares in the Company subject to satisfaction of certain performance targets and otherwise on the terms set out in the Explanatory Memorandum accompanying the Notice of Annual General Meeting, is hereby approved."