AYM Anglesey Mining Plc

 
TIDMAYM 
 
AGM 2016 - Chairman's remarks - Voting - Grant of share options 
 
Chairman's remarks at AGM 
 
At the shareholder's annual meeting held today, the Chairman, John Kearney, 
made a presentation outlining the company's plans for the coming year and his 
expectation that the price of zinc will move significantly higher in the near 
future, due to reduced production worldwide from mine closures and forecasts of 
increases in demand, and that these higher zinc prices would continue for a 
number of years. 
 
Mr Kearney noted that the company had previously announced that it was updating 
its earlier scoping and economic studies on its Parys Mountain zinc/lead/copper 
/silver/gold property in Wales. He reported that this updated scoping study is 
being prepared by Micon International Limited and by Fairport Engineering 
Limited, both of which are acknowledged experts and leaders in the resources 
sector, and it is expected that the updated study will be presented to the 
company later in the autumn. 
 
Grant of share options 
 
The company also announces that it has today granted a total of 3,500,000 
options to subscribe for ordinary shares at a price of 2 pence per share under 
the unapproved share option scheme to the directors in the amounts set out 
below: 
 
Bill Hooley                          Chief Executive 
    1,000,000 
 
Danesh Varma                   Finance Director 
1,000,000 
 
John Kearney 
Chairman                                          500,000 
 
Howard Miller                     Non executive 
Director                     500,000 
 
David Lean                         Non executive Director 
500,000 
 
These share options, which were granted by the remuneration committee and 
approved by the board, will vest after one year from date of grant, with a term 
of five years expiring on the 30 September 2021.  All options are subject to a 
performance criterion, namely that the company's share price performance over 
the period from grant to exercise must exceed that of the companies in the top 
quartile of the FTSE 100 index. 
 
The company points out that all the directors have waived entitlement to 
remuneration for more than the last 24 months. 
 
Voting at the AGM 
 
In respect of the voting at the company's AGM held on 28 September 2016 the 
directors are pleased to report that all resolutions were passed unanimously on 
a show of hands. 
 
The valid proxies recorded in respect of voting at the meeting were as follows: 
 
        Resolution                        In Favour       Against       Withheld 
 
1       To receive the report and         58,705,088      750           0 
        accounts 
 
2       To approve the directors'         58,680,949      24,486        400 
        remuneration policy report 
 
3       To approve the directors'         58,685,685      19,250        900 
        remuneration report 
 
4       To reappoint John F. Kearney as a 58,689,460      16,375        0 
        director 
 
5       To reappoint Bill Hooley as a     58,690,085      15,750        0 
        director 
 
6       To reappoint David Lean as a      58,690,585      15,750        500 
        director 
 
7       To reappoint Howard Miller as a   58,690,085      15,750        0 
        director 
 
8       Withdrawn 
 
9       To reappoint Danesh Varma as a    58,705,085      750           0 
        director 
 
10      To reappoint Mazars LLP as        58,703,035      750           2,050 
        auditors 
 
11      To authorise the directors to     58,705,085      750           0 
        determine the remuneration of the 
        auditor 
 
12      To authorise the directors to     58,683,724      21,611        500 
        issue new share capital 
 
13      To dis-apply pre-emption rights   58,682,299      17,800        5,736 
        in respect of certain issues of 
        shares 
 
 
Notes 
 
1. Votes were received in respect of 58,705,835 shares representing 36.6% of 
the issued share capital. 
 
2. Any proxy appointments which gave discretion to the chairman have been 
included in the "For" total. 
 
3. The full text of the resolutions is shown in the notice of the AGM which is 
available in the annual report and on the website. 
 
Total voting rights 
 
The issued ordinary share capital of the company is 160,608,051 shares with 
voting rights; there are no shares in treasury. 
 
The above figure may be used by shareholders as the denominator for the 
calculations which will determine whether they are required to notify their 
interest in the company, or any change to that interest, under the FSA's 
Disclosure and Transparency Rules. 
 
Following the grant of the share options set out above, the aggregate share 
options outstanding will represent 5.3% of the 160,608,051 ordinary shares in 
issue. 
 
For further information, please contact: 
 
Danesh Varma, Finance Director +44 (0)207 6539881 
 
 
 
END 
 

(END) Dow Jones Newswires

September 29, 2016 02:00 ET (06:00 GMT)

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