MONTREAL, July 24, 2020 /CNW/ - Turquoise Hill
Resources Ltd (TSX:TRQ) (NYSE:TRQ) ("Turquoise Hill" or "the
Company") today announced the voting results from the election of
the Company's Board of Directors at its Annual Meeting of
Shareholders.
All seven management nominees were re-elected. Each
director elected will continue to hold office until the next annual
meeting of shareholders of Turquoise Hill Resources, or until the
director's successor is elected or appointed.
Name of
Nominee
|
Votes
For
|
%
For
|
Votes
Withheld
|
%
Withheld
|
George
Burns
|
1,402,667,266
|
82.29%
|
301,916,580
|
17.71%
|
Alan
Chirgwin
|
1,342,033,910
|
78.77%
|
361,727,844
|
21.23%
|
R. Peter
Gillin
|
1,298,479,616
|
76.23%
|
405,002,119
|
23.77%
|
Stephen
Jones
|
1,348,213,046
|
79.13%
|
355,640,607
|
20.87%
|
Ulf
Quellmann
|
1,413,194,158
|
82.88%
|
291,859,915
|
17.12%
|
Russel C.
Robertson
|
1,152,688,690
|
67.68%
|
550,549,613
|
32.32%
|
Maryse
Saint-Laurent
|
1,291,617,568
|
75.86%
|
411,083,499
|
24.14%
|
Turquoise Hill Independent Chairman, Peter Gillin, stated, "While we are pleased with
the re-election of our qualified and experienced directors, we
acknowledge that more work needs to be done. It is evident that we
need to increase the robustness of our direct engagement with our
minority shareholders, to solicit further feedback and propose any
additional recommendations to the Board."
The resolutions approving the appointment of KPMG LLP as the
Company's auditor, the consolidation of the Company's issued and
outstanding common shares, and the Company's approach to executive
compensation were also approved at the meeting. The shareholder
proposal put forward to create a mechanism for the nomination of
directors by certain minority shareholders was not approved. The
election of Mr. Halbower to the Board of Directors was defeated
with 605,827,958 votes "For", representing 35.39% of the votes, and
1,106,000,750 votes "Withheld", representing 64.61% of the
votes.
Detailed results on all matters voted on at the annual meeting
of shareholders will be filed on SEDAR.
Follow us on Twitter @TurquoiseHillRe
About Turquoise Hill Resources
Turquoise Hill is an international mining company focused on the
operation and continued development of the Oyu Tolgoi copper-gold
mine in Mongolia, which is the
Company's principal and only material mineral resource property.
Turquoise Hill's ownership of the Oyu Tolgoi mine is held through a
66% interest in Oyu Tolgoi LLC (Oyu Tolgoi); Erdenes Oyu Tolgoi LLC
(Erdenes), a Mongolian state-owned entity, holds the remaining 34%
interest.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/turquoise-hill-announces-results-of-voting-for-directors-301099643.html
SOURCE TURQUOISE HILL RESOURCES LTD