TIDMAVM
RNS Number : 7867A
Avocet Mining PLC
09 June 2016
Results of Annual General Meeting and 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 9 June 2016, were carried as proposed. The final proxy voting
figures for the meeting are shown below:
Resolution Votes for(a) Votes for % Votes against Votes against Votes validly Votes cast Votes
% cast as % of withheld(b)
shares with
voting
rights(c)
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
Ordinary
Resolutions
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
Receipt of
reports and
financial
statements for
the year ended
1 31 De 2015 38,948,734 100.00 - - 38,948,734 18.63 40,480
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
2 Receipt of 38,733,519 99.71 112,715 0.29 38,846,234 18.58 141,980
Directors'
remuneration
report for the
year ended 31
Dec 2015
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
Re-appointment
of R Edey as
3 Director 27,042,388 69.55 11,839,471 30.45 38,881,859 18.60 107,355
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
Re-appointment
of B Rourke as
4 Director 27,042,388 69.56 11,833,471 30.44 38,875,859 18.60 113,355
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
Re-appointment
of G Wylie as
5 Director 37,972,743 97.68 903,116 2.32 38,875,859 18.60 113,355
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
Re-appointment
of D Cather as
6 Director 38,618,259 99.31 267,080 0.69 38,885,339 18.60 103,875
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
Re-appointment
of J Wynn as
7 Director 38,618,259 99.31 267,080 0.69 38,885,339 18.60 103,875
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
8 Re-appointment 38,753,734 99.73 104,480 0.27 38,858,214 18.59 131,000
of Grant
Thornton UK
LLP as
auditors of
the Company
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
9 Authority to 38,753,734 99.65 134,480 0.35 38,888,214 18.60 101,000
determine the
auditors'
remuneration
-------------- ------------ ----------- ------------- ------------- ------------- ------------ -------------
General Meeting
In addition, the Company confirms that all resolutions at the
General Meeting of its shareholders, also held on 9 June 2016, were
carried as proposed. The final proxy voting figures for this
meeting are shown below:
Resolution Votes for(a) Votes for % Votes Votes Votes Votes cast Votes
against against % validly cast as % of withheld(b)
shares with
voting
rights(c)
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
Ordinary
Resolutions
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
Sub-division of
Existing Ordinary
1 Shares 27,757,016 99.42 163,321 0.58 27,920,337 13.36 18,185
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
10:1 consolidation
of New Ordinary
2 Shares 27,759,016 99.42 161,321 0.58 27,920,337 13.36 18,185
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
Special Resolution
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
3 Amendment 27,760,016 99.45 154,321 0.55 27,914,337 13.35 24,185
Company's Articles
of Association to
reflect changes in
share capital and
to determine
the rights of
Deferred Ordinary
Shares
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
Ordinary
Resolution
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
4 Authority to allot 27,760,016 99.43 160,321 0.57 27,920,337 13.36 18,185
shares (s551 Co
Act 2006)
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
Special
Resolutions
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
5 Authority to 27,757,816 99.43 159,041 0.57 27,916,857 13.35 21,665
disapply
pre-emption rights
up to 5% of share
capital
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
6 Authority to 27,762,096 99.43 158,241 0.57 27,920,337 13.36 18,185
purchase own
shares up to 10%
of share capital
------------------ ------------ ----------- ------------ ------------ ------------ ------------ ------------
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 7 June 2016, the Company had 209,496,710 ordinary
shares in issue, of which 209,054,701 represented ordinary shares
with voting rights (after excluding 442,009 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 and Shareholders' Circulars dated 12 May
2016.
A short presentation has also been made available on the
Company's website at www.avocetmining.com
FOR FURTHER INFORMATION PLEASE CONTACT
Avocet Mining PLC Bell Pottinger J.P. Morgan Cazenove
Financial PR Consultants Corporate Broker
David Cather, CEO Daniel Thöle Michael Wentworth-Stanley
Jim Wynn, FD
+44 20 3709 2570 +44 20 3772 2555 +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% of the Inata Gold Mine. The
Inata Gold Mine poured its first gold in December 2009 and produced
74,755 ounces of gold in 2015. 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 kilometres from the Inata Gold Mine.
In Guinea, Avocet owns 100% of the Tri-K Project in the north
east of the country. Drilling to date has outlined a Mineral
Resource of 3.0 million ounces, and in October 2013 the Company
announced a maiden Ore Reserve on the oxide portion of the orebody,
which is suitable for heap leaching, of 0.5 million ounces. As an
alternative, the potential exists to exploit the entire 3.0 million
ounce Tri-K orebody via the CIL processing method. An exploitation
permit was awarded for Tri-K on 27 March 2015.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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