30 Jun 2017 15:25
Results of Annual General Meeting
Annual General Meeting
Avocet Mining PLC ("Avocet" or the "Company") confirms that all resolutions at the Annual General Meeting of its shareholders, held on 30 June 2017, were carried as proposed. The final proxy voting figures for the meeting are shown below:
Resolution | Votes fora | Votes for % | Votes against | Votes against % | Votes validly cast | Votes cast as % of shares with voting rightsc | Votes withheldb | |
Ordinary Resolutions | ||||||||
1 | Receipt of reports and financial statements for the year ended 31 Dec 2016 | 10,643,697 | 99.99% | 448 | 0.01% | 10,644,145 | 50.92% | 600 |
2 | Receipt of Directors' remuneration report for the year ended 31 Dec 2016 | 10,627,586 | 99.85% | 16,159 | 0.15% | 10,643,745 | 50.91% | 1,000 |
3 | Re-appointment of R P Edey as Director | 10,632,460 | 99.90% | 11,035 | 0.10% | 10,643,495 | 50.91% | 1,250 |
4 | Re-appointment of B J Rourke as Director | 10,632,460 | 99.90% | 11,035 | 0.10% | 10,643,495 | 50.91% | 1,250 |
5 | Re-appointment of G Wylie as Director | 10,633,660 | 99.90% | 10,835 | 0.10% | 10,644,495 | 50.92% | 250 |
6 | Re-appointment of D C Cather as Director | 10,633,660 | 99.90% | 10,835 | 0.10% | 10,644,495 | 50.92% | 250 |
7 | Re-appointment of J Wynn as Director | 10,633,660 | 99.90% | 10,835 | 0.10% | 10,644,495 | 50.92% | 250 |
8 | Re-appointment of B Wentink as Director | 10,633,660 | 99.90% | 10,835 | 0.10% | 10,644,495 | 50.92% | 250 |
9 | Re-appointment of Grant Thornton UK LLP as auditors of the Company | 10,629,286 | 99.90% | 11,159 | 0.10% | 10,640,445 | 50.90% | 4,374 |
10 | Authority to determine the auditors' remuneration | 10,629,382 | 99.90% | 10,935 | 0.10% | 10,640,317 | 50.90% | 4,428 |
11 | Authority to allot shares (s551 Co Act 2006) | 10,631,881 | 99.89% | 11,849 | 0.11% | 10,643,730 | 50.91% | 1,015 |
Special Resolutions | ||||||||
12 | Authority to disapply pre-emption rights up to 5% of share capital | 2,895,679 | 99.59% | 11,841 | 0.41% | 2,907,520 | 13.91% | 7,737,225 |
13 | Authority to purchase own shares up to 10% of share capital | 2,906,098 | 99.95% | 1,550 | 0.05% | 2,907,648 | 13.91% | 7,737,097 |
14 | Call General Meeting with less than 21 days' notice | 10,633,769 | 99.90% | 10,848 | 0.10% | 10,644,617 | 50.92% | 128 |
Notes
a) "Votes for" includes those votes giving discretion to the Chairman
b) "Votes withheld" do not count toward votes cast "for" or "against" a resolution
c) As at 29 June 2017, the Company had 20,949,671 ordinary shares in issue, of which 20,905,471 represented ordinary shares with voting rights (after excluding 44,200 treasury shares). Ordinary shares with voting rights were entitled to vote for all resolutions at the Annual General Meeting and the General Meeting.
In accordance with the Listing Rule 9.6.2, a copy of the Special Resolutions passed at these meetings has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.
Unless the context otherwise requires, capitalised terms used in this announcement shall have the meanings given to them in the Notices of Meeting dated 6 June 2017.
FOR FURTHER INFORMATION PLEASE CONTACT
Avocet Mining PLC | Blytheweigh Financial PR | J.P. Morgan Cazenove Corporate Broker |
Boudewijn Wentink, CEO Yolanda Bolleurs , CFO | Tim Blythe Megan Ray Camilla Horsfall | Michael Wentworth-Stanley |
+44 20 3709 2570 | +44 207 138 3204 | +44 20 7742 4000
|
NOTES TO EDITORS
Avocet Mining PLC ("Avocet" or the "Company") is an unhedged gold mining and exploration company listed on the London Stock Exchange (ticker: AVM.L) and the Oslo Børs (ticker: AVM.OL). The Company's principal activities are gold mining and exploration in West Africa.
In Burkina Faso the Company owns 90 per cent of the Inata Gold Mine. The Inata Gold Mine poured its first gold in December 2009 and produced 72,485 ounces of gold in 2016. Other assets in Burkina Faso include five exploration permits surrounding the Inata Gold Mine in the broader Bélahouro region. The most advanced of these projects is Souma, some 20 kilometers from the Inata Gold Mine.
The Company also holds an interest in the Tri-K project in Guinea. On 22 May 2017, the Company announced that it had completed its agreement to dispose of 40 per cent of the project to Managem, a Moroccan group listed on the Casablanca stock exchange, which will increase upon completion of a bankable feasibility study for a CIL plant at the site, the incurring of expenditures of at least US$10 million, and the enlarging of the ore reserve, to 70 per cent (in the event of an increase of the reserve to 1 million ounce or more) or 60 per cent (if less than 1 million ounces).
AVM.L (AVM)