Tungsten Corporation PLC Result of AGM (1145K)

TIDMTUNG

RNS Number : 1145K

Tungsten Corporation PLC

16 September 2016

TUNGSTEN CORPORATION PLC

("Tungsten" or the "Company")

16 September 2016

For Immediate Release

Result of AGM

Tungsten announces that all the resolutions, as set out in the Company's notice of Annual General Meeting ('AGM') dated 25 July 2016 and put to the AGM held at 2pm on 16 September 2016, were passed, except for resolution 11 relating to the calling of a general meeting on 14 days' notice. The resolutions were voted on a poll. The table below gives details of the results of the poll.

 
                Resolution                     Total        Total        Total 
                                                Votes        Votes       Votes 
                                                For *      Against*     Withheld 
                                                                           ** 
------------------------------------------  -----------  -----------  ---------- 
  1. To receive and adopt 
   the Company's financial 
   statements and Directors' 
   and auditor's report 
   for the year ended 30 
   April 2016                                67,640,637   4,351,072      1,085 
                                              (93.96%)      (6.04%) 
------------------------------------------  -----------  -----------  ---------- 
  2. To re-elect Peter 
   Kiernan as a Director 
   of the Company                            41,959,665   24,142,267   5,890,862 
                                              (63.48%)     (36.52%) 
------------------------------------------  -----------  -----------  ---------- 
  3. To re-elect Nick Parker 
   as a Director of the 
   Company                                   41,958,632   20,531,096   9,503,066 
                                              (67.14%)     (32.86%) 
------------------------------------------  -----------  -----------  ---------- 
  4. To re-elect David 
   Benello as a Director 
   of the Company                            54,427,407   17,552,388    12,999 
                                              (75.61%)     (24.39%) 
------------------------------------------  -----------  -----------  ---------- 
  5. To re-appoint PricewaterhouseCoopers 
   LLP as auditors                           50,102,918   21,882,929     6,947 
                                              (69.60%)     (30.40%) 
------------------------------------------  -----------  -----------  ---------- 
  6. To authorise the Directors 
   to set the auditors' 
   remuneration                              58,186,100   4,332,026    9,474,668 
                                              (93.07%)      (6.93%) 
------------------------------------------  -----------  -----------  ---------- 
  7. Authority to allot 
   shares                                    54,377,647   17,552,633    62,514 
                                              (75.60%)     (24.40%) 
------------------------------------------  -----------  -----------  ---------- 
  8. General authority 
   to disapply pre-emption 
   rights (special resolution)               54,432,409   17,560,385       0 
                                              (75.61%)     (24.39%) 
------------------------------------------  -----------  -----------  ---------- 
  9. Additional authority 
   to disapply pre-emption 
   rights for purposes of 
   acquisitions or capital 
   investments (special 
   resolution)                               54,432,409   17,560,385       0 
                                              (75.61%)     (24.39%) 
------------------------------------------  -----------  -----------  ---------- 
  10. Authority to purchase 
   own shares (special resolution)           54,349,925   17,580,355    62,514 
                                              (75.56%)     (24.44%) 
------------------------------------------  -----------  -----------  ---------- 
  11. Authority to call 
   a general meeting on 
   not less than 14 days' 
   clear notice (special 
   resolution)                               53,736,098   18,256,696       0 
                                              (74.64%)     (25.36%) 
------------------------------------------  -----------  -----------  ---------- 
  12. Authority to make 
   political donations and 
   incur political expenditure 
   to a specified limit                      71,272,698    670,783      49,313 
                                              (99.07%)      (0.93%) 
------------------------------------------  -----------  -----------  ---------- 
 

* Includes discretionary votes.

** A vote withheld is not treated as a vote in law and would not be counted in the calculation of the proportion of the votes cast for or against a resolution

Defined terms used in this announcement shall have the meanings set out in the AGM Notice.

As at the date of the AGM, the number of issued shares and total voting rights of the Company was 126,069,397 shares in issue. The Company's Articles of Association set out that every member who is present in person or by proxy shall have one vote for every share of which he is the holder on a poll. The scrutineer of the poll was Equiniti Limited.

Enquiries

 
 Tungsten Corporation plc 
  Richard Hurwitz, Chief Executive 
  Officer 
  David Williams, Chief Financial               [phone] 
  Officer                                       7713 
 
 Panmure Gordon (Nominated 
  Advisor)                                    [phone] 
  Fred Walsh/Peter Steel                       2500 
 Canaccord Genuity Limited 
  (Broker) 
  Simon Bridges/Cameron Duncan/Emma           [phone] 
  Gabriel                                      8000 
 Neustria Partners 
  Robert Bailhache/Nick Henderson/Charles     [phone] 
  Gorman                                       2580 
 

About Tungsten Corporation plc

Tungsten Corporation (LSE: TUNG) aims to be the world's most trusted business transaction network by using data intelligently to strengthen the global supply chain.

Tungsten Network is a secure e-invoicing and purchase order services platform that brings businesses and their suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cash flow management. Delivering trusted connections and streamlined transactions, the network also provides users with real-time spend analysis and offers suppliers access to invoice financing through Tungsten Network Finance, a form of alternative finance for businesses.

Tungsten Network processes invoices for 70% of the FTSE 100 and 72% of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 47 countries, and last year processed transactions worth over GBP133bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's and the US Federal Government.

Trusted, passionate and proven, Tungsten is making the digitisation of global commerce between buyers and suppliers faster, easier and smarter.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 16, 2016 11:08 ET (15:08 GMT)