19 Sep 2019 14:55
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
19 September 2019
Result of AGM
The Company announces the outcome of votes cast by means of a poll in respect of the resolutions put to the Annual General Meeting held at 10 am on 19 September 2019. The table below gives details of the results of the poll in respect of the ordinary resolutions (resolutions 1 to 9) and special resolutions (resolutions 10 to 12) set out in the Company's notice of AGM dated 16 August 2019.
Resolution | Total Votes For * | Total Votes Against* | Total VotesWithheld ** |
1. To receive and adopt the Company's financial statements and Directors' and Auditors' reports for the year ended 30 April 2019 | 65,455,856 (100.00%) | 0 (0.00%) | 56,000 |
2. To approve the Directors' Remuneration Report for the year ending 30 April 2019 | 56,150,813 (85.78%) | 9,305,043 (14.22%) | 56,000 |
3. To elect Andrew Doman as a Director of the Company | 65,435,994 (100.00%) | 0 (0.00%) | 75,862 |
4. To elect Andrew Lemonofides as a Director of the Company | 65,449,994 (100.00%) | 0 (0.00%) | 61,862 |
5. To elect Vivienne Maclachlan as a Director of the Company | 65,435,994 (100.00%) | 0 (0.00%) | 75,862 |
6. To re-elect David Williams as a Director of the Company | 65,448,949 (100.00%) | 1,045 (0.00%) | 61,862 |
7. To appoint BDO LLP as auditors | 65,449,994 (99.99%) | 5,862 (0.01%) | 56,000 |
8. To authorise the Directors to set the auditors' remuneration | 61,742,844 (94.33%) | 3,713,012 (5.67%) | 56,000 |
9. Authority to allot shares | 65,455,211 (100.00%) | 645 (0.00%) | 56,000 |
10. General authority to disapply pre-emption rights (special resolution) | 65,435,767 (100.00%) | 645 (0.00%) | 75,444 |
11. Additional authority to disapply pre-emption rights for purposes of acquisitions or capital investments (special resolution) | 65,435,767 (100.00%) | 645 (0.00%) | 75,444 |
12. Authority to purchase own shares (special resolution) | 65,440,421 (99.98%) | 15,435 (0.02%) | 56,000 |
* Includes discretionary votes.
** A vote withheld is not treated as a vote in law and would not be counted in the calculation of the proportion of the votes cast for or against a resolution
Defined terms used in this announcement shall have the meanings set out in the AGM Notice.
As at the date of the AGM, there were 126,088,147 shares in issue, also being the total voting rights of the Company. The Company's Articles of Association set out that every member who is present in person or by proxy shall have one vote for every share of which he is the holder on a poll. The scrutineer of the poll was Equiniti Limited.
Enquiries
Tungsten Corporation plc Tony Bromovsky, Executive Chairman Andrew Lemonofides, Chief Executive Officer David Williams, Chief Financial Officer |
|
+44 20 7280 7713 |
|
|
|
Panmure Gordon UK Limited (Nominated Advisor)Dominic Morley |
| +44 20 7886 2500 |
Canaccord Genuity Limited (Broker)Simon Bridges |
| +44 20 7523 8000
|
About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) aims to be the leading global electronic invoicing and purchase order transactions network.
Digital invoicing processes enable large businesses to reduce costs and effectively manage their businesses. They can improve business agility by creating scalable and repeatable growth processes, managing their cash effectively and making better decisions based on a comprehensive analysis of their data.
Tungsten Network processes invoices for 74 percent of the FTSE 100 and 71 percent of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 50 countries, and last year processed transactions worth over £173bn for organisations such as Caesars Entertainment, Computacenter, GlaxoSmithKline, Kraft Foods, Mohawk Industries, Mondelēz International, Procter & Gamble, Shaw Industries, Unilever and the US Federal Government.