Last checked at 28 Jun 2019 10:15
28 June 2019
Kore Potash Plc
("Kore Potash" or the "Company")
Kore Potash - Results of AGM
Kore Potash plc, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project ("Kola" or the "Project"), is pleased to announce that the resolutions put to its Annual General Meeting ("AGM") held earlier today, Friday 28 June 2019, were duly passed.
The resolutions were all passed on a show of hands with exception of Resolution 12 in which a poll was taken and was passed by the requisite majority.
The following statistics, as detailed in the attached Annexure A, are provided in respect of each motion on the Agenda of Kore Potash plc's AGM.
In addition, shareholders are advised in terms of Rule 3.6.16 of the Listing Rules of the Australian Securities Exchange and paragraph 3.78 of the JSE Listings Requirements that BDO LLP ("BDO") has been appointed as the Company's external auditors with effect from 28 June 2019, with Matt Crane as the designated audit partner, replacing Deloitte LLP ("Deloitte").
The change in audit firm was initiated by Kore Potash as part of a review process conducted by the Audit & Risk Committee in which select firms were invited to quote on providing audit services to Kore Potash. The decision to change auditors was not the result of any disagreement between the Company and Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. The appointment of BDO will allow the Company to maintain a quality auditor while achieving its objective of reducing costs. Kore Potash would like to take this opportunity to express its sincere gratitude to the Deloitte team for their services rendered to the Company over the past years.
ENDS
For further information, please visit www.korepotash.com or contact:
Kore Potash Brad Sampson - CEO
| Tel: +27 11 469 9140 | |
Tavistock Communications Jos Simson Edward Lee
| Tel: +44 (0) 20 7920 3150 | |
Canaccord Genuity - Nomad and Broker James Asensio Henry Fitzgerald-O'Connor
| Tel: +44 (0) 20 7523 4600 | |
Shore Capital - Joint Broker Jerry Keen Toby Gibbs Mark Percy | Tel: +44 (0) 20 7408 4050 |
ANNEXURE A:
In respect to each resolution the total number of votes exercisable by all validly appointed proxies was as follows:
RESOLUTION | TOTAL VOTES VALIDLY CAST | FOR |
DISCRETION - CHAIRMAN
| DISCRETION - OTHER | AGAINST | VOTES WITHHELD |
Resolution 1 - Receive the 2018 Annual Report | 442,198,541 | 442,178,507 | 0 | 20,034 | 0 | 150,455 |
Resolution 2 - Approval of Remuneration Report | 442,054,213 | 441,658,308 | 0 | 20,034 | 375,871 | 294,783 |
Resolution 3 - Appointment of Auditors | 442,207,231 | 442,087,197 | 0 | 20,034 | 100,000 | 136,515 |
Resolution 4 - Authorise directors to determine the remuneration of BDO LLP as the Company's auditors | 442,003,221 | 441,538,313 | 0 | 20,034 | 444,874 | 296,814 |
Resolution 5 - Re-appointment of David Hathorn as a Director | 418,816,679 | 418,267,516 | 0 | 20,034 | 529,129 | 23,483,356 |
Resolution 6 - Re-appointment of Brad Sampson as a Director | 442,003,034 | 441,453,871 | 0 | 20,034 | 529,129 | 297,001 |
Resolution 7 - Re-appointment of Jonathan Trollip as a Director | 442,003,434 | 441,451,871 | 0 | 20,034 | 531,529 | 296,601 |
Resolution 8 - Re-appointment Timothy Keating as a Director | 442,003,034 | 441,453,871 | 0 | 20,034 | 529,129 | 297,001 |
Resolution 9 - Re-appointment of David Netherway as a Director | 442,003,034 | 441,451,871 | 0 | 20,034 | 531,129 | 297,001 |
Resolution 10 - Re-appointment of Jose Antonio Merino as a Director | 442,003,034 | 441,453,871 | 0 | 20,034 | 529,129 | 297,001 |
Resolution 11 - Authority to allot shares | 442,176,190 | 438,186,656 | 0 | 20,034 | 3,969,500 | 115,845 |
Resolution 12 - Disapplication of pre-emption rights | 442,140,856 | 438,437,174 | 0 | 20,034 | 3,683,648 | 164,101 |