29 Jun 2018 16:33
29 June 2018
Petropavlovsk PLC (the "Company")
Results of Annual General Meeting
The Annual General Meeting of the Shareholders of Petropavlovsk PLC (the Company) was held on 29 June 2018 at 11am at 107 Cheapside, EC2V 6DN, London.
None of the resolutions proposed by the Board were duly passed on a poll, with the exception of Resolutions 1,3,4,5,11 and 12.
All of the Resolutions proposed by the Requisition Shareholders were passed, with the exception of Resolutions 19.
Accordingly, Messrs Ian Ashby, Bruce M. Buck, Adrian Coates, Roman Deniskin and Garrett Soden were not re-elected as Directors and therefore retired from the Board on 29 June 2018.
Dr Pavel Maslovskiy, Sir Roderic Lyne and Mr Robert Jenkins were appointed as Directors of the Company on 29 June 2018. A further announcement will be made by the Company in relation to these appointments.
The table below shows the votes received for and against the Resolutions.
Resolution | Votes For | Votes Against | VoteWithheld | Total Votes Cast (Excl. Withheld) |
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No of Shares | % of Shares Voted | No of Shares | % of Shares Voted | No of Shares | ||||
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1 | Adoption of Report and Accounts | 2,022,844,477 | 85.92% | 331,416,039 | 14.08% | 200,174,568 | 2,354,260,516 |
|
2 | Approval of Directors' Remuneration Report | 599,100,824 | 28.46% | 1,505,765,831 | 71.54% | 449,568,431 | 2,104,866,655 |
|
3 | Approval of Directors' Remuneration Policy | 1,996,614,738 | 84.57% | 364,296,668 | 15.43% | 193,523,679 | 2,360,911,406 |
|
4 | Re-appointment of Auditor | 2,343,658,173 | 99.36% | 15,037,285 | 0.64% | 195,739,626 | 2,358,695,458 |
|
5 | Remuneration of Auditor | 2,347,220,085 | 99.31% | 16,356,812 | 0.69% | 190,858,189 | 2,363,576,897 |
|
6 | Re-election of Mr Adrian Coates | 1,084,322,276 | 42.70% | 1,454,962,398 | 57.30% | 15,150,412 | 2,539,284,674 |
|
7 | Re-election of Mr Roman Deniskin | 1,081,871,883 | 42.60% | 1,457,669,361 | 57.40% | 14,892,842 | 2,539,541,244 |
|
8 | Re-election of Mr Bruce M. Buck | 1,043,627,350 | 41.72% | 1,457,853,443 | 58.28% | 52,954,292 | 2,501,480,793 |
|
9 | Re-election of Mr Garrett Soden | 1,189,867,443 | 47.57% | 1,311,613,350 | 52.43% | 52,954,292 | 2,501,480,793 |
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10 | Re-election of Mr Ian Ashby | 1,194,713,820 | 47.76% | 1,306,620,915 | 52.24% | 53,100,350 | 2,501,334,735 |
|
11 | Authority to allot shares | 1,851,849,914 | 82.36% | 396,740,858 | 17.64% | 305,844,314 | 2,248,590,772 |
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SPECIAL RESOLUTION |
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12 | Disapplication of statutory pre-emption rights | 1,850,454,556 | 82.43% | 394,560,644 | 17.57% | 308,549,886 | 2,245,015,200 |
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SHAREHOLDERS' PROPOSALS |
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13 | Appointment of Dr Pavel Masvlovskiy | 1,329,515,682 | 52.07% | 1,223,881,971 | 47.93% | 1,037,433 | 2,553,397,653 |
|
14 | Appointment of Sir Roderic Lyne | 1,327,989,260 | 52.00% | 1,225,921,494 | 48.00% | 524,332 | 2,553,910,754 |
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15 | Appointment of Mr Robert Jenkins | 1,338,491,414 | 52.41% | 1,215,276,305 | 47.59% | 667,367 | 2,553,767,719 |
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16 | Removal of Mr Ian Ashby | 1,327,113,112 | 51.96% | 1,226,787,690 | 48.04% | 534,284 | 2,553,900,802 |
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17 | Removal of Mr Bruce M. Buck | 1,479,319,425 | 57.93% | 1,074,369,037 | 42.07% | 746,624 | 2,553,688,462 |
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18 | Removal of Mr Garrett Soden | 1,328,385,384 | 52.02% | 1,225,303,078 | 47.98% | 746,624 | 2,553,688,462 |
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19 | Removal of Mr Bektas Mukazhanov | 630,798,505 | 34.10% | 1,219,054,913 | 65.90% | 554,064,131 | 1,849,853,418 |
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20 | Removal of Mr Adrian Coates | 1,475,764,431 | 57.82% | 1,076,453,754 | 42.18% | 2,216,901 | 2,552,218,185 |
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21 | Removal of Mr Roman Deniskin | 1,477,516,251 | 57.90% | 1,074,128,828 | 42.10% | 2,790,007 | 2,551,645,079 |
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22 | Removal any other Directors appointed since 16 May 2018 | 1,324,340,128 | 51.91% | 1,227,098,187 | 48.09% | 2,996,771 | 2,551,438,315 |
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23 | That the vacancy created by the retirement of each director at this AGM is not filled | 1,474,216,485 | 57.80% | 1,076,307,711 | 42.20% | 3,910,790 | 2,550,524,196 |
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Notes:
1. Resolutions 2, 6, 7, 8, 9, 10, and 19 were not approved by Shareholders. All other resolutions were passed
2. Votes 'For' and 'Against' are expressed as a percentage of votes received
3. A 'Vote' withheld is not a vote in law and is not counted in the calculations of the votes 'For' or 'Against' a resolution
4. The total number of shares in issue as at 6pm on 29 June 2018 was 3,303,768,532 ordinary shares with 3,303,768,532 voting rights
5. 77.3% voting capital was instructed
The voting figures will be displayed shortly on the Company's website at www.petropavlovsk.net
About Petropavlovsk
Petropavlovsk is one of Russia's leading gold mining companies. As at 31 March 2018, the Company had
produced approximately 6.9Moz of gold.
At this time, Petropavlovsk is in the construction phase of a state of the art pressure oxidation facility to process the Company's substantial refractory resource base. The Company's combined 3,430km2 license holding has untapped resource potential. The Company is a leading employer and contributor to the development of the local economy in the Amur region, Russian Far East, where it has operated since 1994.
Petropavlovsk is a shareholder (31.1%) of IRC Limited and is the guarantor of IRC's US$340 million project finance facility. IRC is a vertically integrated iron ore producer and developer in the Russian Far East and North-eastern China. IRC is listed on the Hong Kong Stock Exchange (ticker: 1029.HK).
Petropavlovsk is listed on the Main Market of the London Stock Exchange (ticker POG:LN).
Enquiries
For more information, please visit www.petropavlovsk.net and www.ircgroup.com.hk or contact:
Petropavlovsk PLC | Buchanan |
Alya Samokhvalova | Bobby Morse |
Grace Hanratty | Anna Michniewicz |
+44 (0) 20 7201 8900 | +44 (0) 207 466 5000 |
TeamIR@petropavlovsk.net | POG@buchanan.uk.com |