16 Sep 2016 16:08
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
16 September 2016
For Immediate Release
Result of AGM
Tungsten announces that all the resolutions, as set out in the Company's notice of Annual General Meeting ('AGM') dated 25 July 2016 and put to the AGM held at 2pm on 16 September 2016, were passed, except for resolution 11 relating to the calling of a general meeting on 14 days' notice. The resolutions were voted on a poll. The table below gives details of the results of the poll.
Resolution | Total Votes For * | Total Votes Against* | Total VotesWithheld ** |
1. To receive and adopt the Company's financial statements and Directors' and auditor's report for the year ended 30 April 2016 | 67,640,637 (93.96%) | 4,351,072 (6.04%) | 1,085 |
2. To re-elect Peter Kiernan as a Director of the Company | 41,959,665 (63.48%) | 24,142,267 (36.52%) | 5,890,862 |
3. To re-elect Nick Parker as a Director of the Company | 41,958,632 (67.14%) | 20,531,096 (32.86%) | 9,503,066 |
4. To re-elect David Benello as a Director of the Company | 54,427,407 (75.61%) | 17,552,388 (24.39%) | 12,999 |
5. To re-appoint PricewaterhouseCoopers LLP as auditors | 50,102,918 (69.60%) | 21,882,929 (30.40%) | 6,947 |
6. To authorise the Directors to set the auditors' remuneration | 58,186,100 (93.07%) | 4,332,026 (6.93%) | 9,474,668 |
7. Authority to allot shares | 54,377,647 (75.60%) | 17,552,633 (24.40%) | 62,514 |
8. General authority to disapply pre-emption rights (special resolution) | 54,432,409 (75.61%) | 17,560,385 (24.39%) | 0 |
9. Additional authority to disapply pre-emption rights for purposes of acquisitions or capital investments (special resolution) | 54,432,409 (75.61%) | 17,560,385 (24.39%) | 0 |
10. Authority to purchase own shares (special resolution) | 54,349,925 (75.56%) | 17,580,355 (24.44%) | 62,514 |
11. Authority to call a general meeting on not less than 14 days' clear notice (special resolution) | 53,736,098 (74.64%) | 18,256,696 (25.36%) | 0 |
12. Authority to make political donations and incur political expenditure to a specified limit | 71,272,698 (99.07%) | 670,783 (0.93%) | 49,313 |
* 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 126,069,397 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.
Enquiries
Tungsten Corporation plc Richard Hurwitz, Chief Executive Officer David Williams, Chief Financial Officer |
+44 20 7280 7713
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Panmure Gordon (Nominated Advisor) Fred Walsh/Peter Steel | +44 20 7886 2500
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Canaccord Genuity Limited (Broker) Simon Bridges/Cameron Duncan/Emma Gabriel | +44 20 7523 8000
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Neustria Partners Robert Bailhache/Nick Henderson/Charles Gorman | +44 20 3021 2580
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About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) aims to be the world's most trusted business transaction network by using data intelligently to strengthen the global supply chain.
Tungsten Network is a secure e-invoicing and purchase order services platform that brings businesses and their suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cash flow management. Delivering trusted connections and streamlined transactions, the network also provides users with real-time spend analysis and offers suppliers access to invoice financing through Tungsten Network Finance, a form of alternative finance for businesses.
Tungsten Network processes invoices for 70% of the FTSE 100 and 72% of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 47 countries, and last year processed transactions worth over £133bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's and the US Federal Government.
Trusted, passionate and proven, Tungsten is making the digitisation of global commerce between buyers and suppliers faster, easier and smarter.