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Results of Requisitioned General Meeting

10 Aug 2020 13:49

RNS Number : 6832V
Petropavlovsk PLC
10 August 2020
 

10 August 2020

 

Petropavlovsk PLC (the "Company")

 

Results of Requisitioned General Meeting

 

The Requisitioned General Meeting (the "RGM") of Shareholders of Petropavlovsk PLC (the "Company") was held at 11 am on 10 August 2020 at the offices of White & Case LLP, 5 Old Broad Street, London EC2N 1DW.

 

Resolutions proposed by Prosperity

Resolutions 1 and 3 to 6 failed. Resolution 2, to appoint Mr Michael Kavanagh as a Director of the Company was approved by Shareholders. However, Resolution 18, proposed by Everest was also approved. As stated in the Company's Circular and Notice of Requisitioned General Meeting (the "Notice"), Resolution 18 proposed that all Directors appointed since 9 July 2020 up until the conclusion of the RGM are removed as Directors. Consequently, Mr Kavanagh's appointment as a Director terminated upon the passing of Resolution 18.

 

Resolutions proposed by Everest

Resolutions 7 and 8 failed. Special Resolution 19 was approved. The Company is now required to arrange for an independent forensic investigation of related party transactions during the 3 years prior to the date of the RGM. Full details of the Resolution are contained in the Circular, which is available on the Company's website.

 

All other Resolutions proposed by Everest were approved by Shareholders.

 

Board

Following the RGM the Board comprises of: Mr James W. Cameron Jr, Mr Maksim Kharin, Ms Charlotte Philipps and Mrs Katia Ray.

 

All voting was undertaken on a poll.

 

The table below shows the votes received for and against each of the Resolutions.

 

Resolution

Votes For

Votes Against

Votes Withheld

Total Votes Cast (excl. Withheld)

Shares

% of Shares Voted

Shares

% of Shares Voted

Shares

1

Re-appoint Mr Damien Hackett

1,468,200,200

44.91%

1,801,252,926

55.09%

77,336,089

3,269,453,126

2

Appoint Mr Michael Kavanagh

1,778,761,658

54.41%

1,490,633,261

45.59%

77,394,295

3,269,394,919

3

Re-appoint Mr Harry Kenyon-Slaney

1,467,964,819

44.90%

1,801,360,345

55.10%

77,464,051

3,269,325,164

4

Re-appoint Dr Pavel Maslovskiy

1,467,403,925

44.88%

1,801,891,114

55.12%

77,495,175

3,269,295,039

5

Re-appoint Mr Timothy McCutcheon

1,414,209,960

43.26%

1,855,035,583

56.74%

77,530,671

3,269,245,543

6

Appoint Mr Vitaliy Zarkhin

1,464,556,545

44.80%

1,804,686,948

55.20%

77,535,721

3,269,243,493

7

Appoint Mr Paul Bushell

704,521,031

32.07%

1,492,465,801

67.93%

1,149,808,693

2,196,986,832

8

Appoint Mr Ivan Kulakov

854,201,818

36.39%

1,493,313,059

63.61%

999,280,648

2,347,514,877

9

Re-appoint Mr James Cameron Jr

2,181,662,387

88.31%

288,680,643

11.69%

876,749,279

2,470,343,030

10

Re-appoint Ms Charlotte Philipps

2,181,221,789

88.30%

289,010,590

11.70%

876,519,930

2,470,232,379

11

Re-appoint Mr Maksim Kharin

2,180,649,780

88.27%

289,726,378

11.73%

876,376,151

2,470,376,158

12

Re-appoint Ms Ekaterina Ray

2,281,603,221

91.21%

219,851,922

8.79%

844,681,166

2,501,455,143

13

Remove Mr Peter Hambro

3,053,475,433

93.00%

229,789,932

7.00%

63,566,945

3,283,265,365

14

Remove Dr Alya Samokhvalova

3,031,611,622

92.34%

251,660,016

7.66%

63,472,380

3,283,271,638

15

Remove Ms Angelica Phillips

3,053,925,200

93.02%

229,043,338

6.98%

63,775,480

3,282,968,538

16

Remove Mr Jonathan Smith

3,054,098,101

93.03%

228,758,054

6.97%

63,887,863

3,282,856,155

17

Remove Mr Martin Smith

3,062,819,841

93.30%

219,965,959

6.70%

63,958,218

3,282,785,800

18

Remove any person appointed as Director since 9 July up to the end of this AGM

1,525,697,758

50.58%

1,490,827,430

49.42%

330,265,735

3,016,525,188

SPECIAL RESOLUTION

19

Independent financial forensic investigation

2,521,880,721

83.86%

485,344,313

16.14%

339,453,308

3,007,225,034

 

Notes:

1. A 'Vote' withheld is not a vote in law and is not counted in the calculations of the votes 'For' or 'Against' a resolution

2. The total number of shares in issue as at 6pm on 7 August 2020 was 3,899,492,481 ordinary shares with 3,899,492,481 voting rights

3. c.86% voting capital was instructed

 

The voting figures will be displayed shortly on the Company's website at www.petropavlovsk.net

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

About Petropavlovsk

 

Petropavlovsk PLC (LSE: POG. MOEX: POGR) is a major integrated Russian gold producer with JORC Resources of 21.03Moz Au which include Reserves of 8.46Moz Au. Following its IPO on the Alternative Investment Market (AIM) in 2002, Petropavlovsk was promoted to the London Stock Exchange in 2009, where today it is a Premium Listed company and a constituent of the FTSE 250, FTSE 350 and FTSE All Share indices.

 

The Company's key operating mines (Pioneer, Malomir and Albyn) are in the Amur Region in the Russian Far East. Petropavlovsk has produced a total of c.7.8Moz of gold since operations began in 1994 and has a strong track record of mine development, expansion and asset optimisation.

 

The Group recently entered a new era of growth following the successful commissioning and start-up of its flagship asset, the Pressure Oxidation (POX) Hub at Pokrovskiy, which enables the processing of the Company's abundant refractory reserves and resources.

 

Petropavlovsk is one of the region's largest employers and one of the largest contributors to the sustainable development of the local economy.

 

Enquiries

 

Please visit www.petropavlovsk.net or contact:

 

Petropavlovsk PLC

Patrick Pittaway / Max Zaltsman / Viktoriya Kim

 

+44 (0) 20 7201 8900

TeamIR@petropavlovsk.net

Peel Hunt LLP

Ross Allister / David McKeown / Alexander Allen

+44 (0) 20 7418 8900

Canaccord Genuity Limited

Henry Fitzgerald-O'Connor / James Asensio

+44 (0) 20 7523 8000

Buchanan

Bobby Morse / Kelsey Traynor / Ariadna Peretz

 

+44 (0) 20 7466 5000

POG@buchanan.uk.com

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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