4 May 2012 08:00
4 May 2012
Avocet Mining PLC
Approval of final dividend and results of Annual General Meeting
Avocet Mining PLC ('Avocet', or 'the Company') confirmed today that shareholders approved a final dividend for the year ended 31 December 2011 of 4.2 pence per share. The dividend payment will be made on 1 June 2012 to shareholders on the register on 11 May 2012. The ex-dividend date will be 9 May 2012.
The final proxy voting figures for the Annual General Meeting of the Company, held on 3 May 2012, are shown below:
For | Against | Withheld | ||
Ordinary resolutions | ||||
1 | Receipt of reports and financial statements | 91,683,684 | 2,000 | 1,751 |
2 | Receipt of Directors' remuneration report | 75,570,485 | 8,709,320 | 7,407,630 |
3 | Re-appointment RP Edey as Director | 91,485,909 | 145,888 | 55,638 |
4 | Re-appointment of RA Pilkington as Director | 90,750,767 | 879,838 | 56,830 |
5 | Re-appointment of B Rourke as Director | 91,309,559 | 321,538 | 56,338 |
6 | Re-appointment of MJ Donoghue as Director | 91,482,659 | 148,438 | 56,338 |
7 | Re-appointment of G Wylie as Director | 91,482,659 | 148,438 | 56,338 |
8 | Re-appointment of BA Richards as Director | 91,466,659 | 164,438 | 56,338 |
9 | Re-appointment of AM Norris as Director | 91,482,659 | 148,438 | 56,338 |
10 | Re-appointment of Grant Thornton as auditors | 91,374,778 | 312,206 | 451 |
11 | Authority to determine auditors' remuneration | 90,820,393 | 304,288 | 562,754 |
12 | Declare final dividend of 4.2 pence per share | 91,680,981 | 6,003 | 451 |
13 | Authority to allot shares (s551 Co Act 2006) | 91,563,047 | 58,800 | 65,588 |
Special resolutions | ||||
14 | Authority to disapply pre-emption rights | 90,511,597 | 1,069,200 | 106,638 |
15 | Authority to purchase its own shares | 91,611,684 | 64,750 | 11,001 |
All resolutions were carried as proposed in the Notice of Meeting.
For further information please contact:
Avocet Mining PLC | BuchananFinancial PR Consultants | J.P. Morgan CazenoveLead Broker | Arctic SecuritiesFinancial Adviser & Market Maker | SEB EnskildaFinancial Adviser &Market Maker |
Brett Richards, CEOMike Norris, FDAngela Parr, IR | Bobby MorseJames Strong | Michael Wentworth-StanleyNeil Passmore | Arne WengerPetter Bakken | Fredrik Cappelen |
+44 20 7766 7676 | +44 20 7466 5000 | +44 20 7588 2828 | +47 2101 3100 | +47 2100 8500 |
Notes to Editors
Avocet Mining PLC is a leading West African gold mining and exploration company listed on the London Stock Exchange (AVM.L) and the Oslo Børs (AVM.OL).
In Burkina Faso the Company owns 90% of the Inata Gold Mine. The deposit at Inata currently comprises a Mineral Resource of 3.46 million ounces and a Mineral Reserve of 1.85 million ounces. The Inata Gold Mine poured its first gold in December 2009 and produced 167,000 ounces of gold in 2011.
Other assets in Burkina Faso include eight exploration permits surrounding the Inata Gold Mine in the broader Bélahouro region. The most advanced of these projects is at Souma, some 20 kilometres from the Inata Gold Mine, where a Mineral Resource of 0.56 million ounces exists.
In Guinea, Avocet owns twelve exploration licences in the north east of the country. Mineral Resource development has been ongoing since 2005 and the project at Tri-K is the most advanced. Within the Tri-K project, Koulékoun has a Mineral Resource of 1.83 million ounces and Kodiéran of 0.41 million ounces.
Avocet's Mineral Resources, which are inclusive of Mineral Reserves, are estimated in accordance with the principles of the Canadian NI 43-101 and Australian JORC Codes, and are reported in accordance with the Australian JORC Code.
AVM.L (AVM)