24 Sep 2015 17:09
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN NOR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
For Immediate Release
24 September 2015
RESULTS OF AGM AND APPOINTMENT OF DIRECTORS
Result of AGM
The Company announces that all the resolutions put to the Annual General Meeting held at 2pm on 24 September 2015 were passed by means of a poll , including the ordinary resolutions (resolutions 1 to 9 and 13) and special resolutions (resolutions 10 to 12) set out in the Company's notice of AGM dated 1 September 2015. The table below gives details of the results of the proxy votes received.
Resolution | Total Votes For * | Total Votes Against* | Total VotesWithheld ** |
1. To receive the financial statements and Directors and auditors report for the year ended 30 April 2015 | 57,973,197 (100%) | 0 (0.00%) | 0 |
2. To elect Richard Hurwitz as a Director of the Company | 57,971,315 (100%) | 1,882 (0.00%) | 0 |
3. To elect Nick Parker as a Director of the Company | 54,363,326 (93.77%) | 3,609,871 (6.23%) | 0 |
4. To elect David Williams as a Director of the Company | 57,971,315 (100%) | 1,882 (0.00%) | 0 |
5. To elect David Benello as a Director of the Company | 57,973,197 (100%) | 0 (0.00%) | 0 |
5a. To elect Ian Wheeler as a Director of the Company | 57,973,197 (100%) | 0 (0.00%) | 0 |
6. To re-elect Danny Truell as a Director of the Company | 37,711,946 (99.94%) | 24,263 (0.06%) | 20,236,988 |
7 To re-appoint PricewaterhouseCoopers LLP as auditors | 53,984,246 (93.12%) | 3,988,951 (6.88%) | 0 |
8. To authorise the Directors to set the remuneration of the auditors | 54,218,042 (93.52%) | 3,755,155 (6.48%) | 0 |
9. Authority to allot shares | 57,697,949 (99.53%) | 274,950 (0.47%) | 298 |
10. Authority to disapply pre-emption rights (special resolution) | 57,907,278 (99.89%) | 65,621 (0.11%) | 298 |
11. Authority to purchase own shares (special resolution) | 57,956,306 (99.97%) | 16,891 (0.03%) | 0 |
12. Authority to call a general meeting on not less than 14 days' clear notice (special resolution) | 57,808,860 (99.72%) | 164,337 (0.28%) | 0 |
13. Authority to make political donations and incur political expenditure to a specified limit | 56,559,165 (97.60%) | 1,392,283 (2.40%) | 21,749 |
*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, the number of issued shares and total voting rights of the Company was 125,405,397 shares in issue. 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.
Appointment of Directors
The Board confirms that, further to the Company's announcement on 2 September 2015, David Benello and Ian Wheeler have been appointed as Non-Executive Directors, and Nick Parker has been appointed Chairman of Tungsten Corporation plc, with immediate effect.
David Benello, 61, is a Director of Telecom Italia SPA, Telecom Malaysia Berhad, Orthox Limited, and a Partner of Oxford Investment Consultants, LLP. In the past 5 years, he has been a Director/Partner of McKinsey & Company, Inc and a Director of Rostelecom OAO.
Ian Wheeler, 48, is currently a Director of SR Consulting & Design Limited and Vayant Travel Technologies lnc. In the past 5 years he has been a Director of Quality Solicitors Organisation Limited and Cabforce Limited (Finland).
There are no further disclosures required for Mr Benello and Mr Wheeler in respect of AIM Rule 17, Schedule 2, Paragraph (g).
Enquiries:
Tungsten Corporation plc. Richard Hurwitz, Chief Executive Officer Juliana Wheeler, Head of Global Communications (Media) |
+44 20 7280 7713 +44 20 7280 7973 | |
Charles Stanley Securities (Nominated Adviser and Joint Broker) Dugald Carlean |
+44 20 7149 6000 | |
Canaccord Genuity Limited (Joint Broker) Simon Bridges/Emma Gabriel |
+44 20 7523 8000 | |
Neustria Partners (Investors and Analysts) Robert Bailhache/Nick Henderson/Charles Gorman |
+44 20 3021 2580 | |
About Tungsten Corporation plcTungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.
Buyer organisations that join Tungsten Network, the world's largest compliant electronic invoicing network, can reduce their invoice-processing costs by 60%. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers options for supply chain financing and helps buying organisations profit by applying real-time spend analytics to its vast repository of line-level invoice data.
Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100 by connecting the world's largest companies and government agencies to their thousands of suppliers around the globe. It enables suppliers to submit tax compliant e-Invoices in 47 countries, and last year processed transactions worth over $187bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and the US Federal Government.
Contact: Juliana Wheeler, Head of Global Communications, +44 20 7280 7973.
juliana.wheeler@tungsten-network.com