Avocet Mining PLC Results of Annual General Meeting (7946J)

TIDMAVM

RNS Number : 7946J

Avocet Mining PLC

30 June 2017

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 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 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
    Receipt of reports 
    and financial 
    statements for the 
    year ended 31 Dec 
1   2016                  10,643,697       99.99%           448         0.01%    10,644,145       50.92%           600 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
2   Receipt of            10,627,586       99.85%        16,159         0.15%    10,643,745       50.91%         1,000 
    Directors' 
    remuneration 
    report for the 
    year ended 31 Dec 
    2016 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
    Re-appointment of 
    R P Edey as 
3   Director              10,632,460       99.90%        11,035         0.10%    10,643,495       50.91%         1,250 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
    Re-appointment of 
    B J Rourke as 
4   Director              10,632,460       99.90%        11,035         0.10%    10,643,495       50.91%         1,250 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
    Re-appointment of 
    G Wylie as 
5   Director              10,633,660       99.90%        10,835         0.10%    10,644,495       50.92%           250 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
    Re-appointment of 
    D C Cather as 
6   Director              10,633,660       99.90%        10,835         0.10%    10,644,495       50.92%           250 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
    Re-appointment of 
7   J Wynn as Director    10,633,660       99.90%        10,835         0.10%    10,644,495       50.92%           250 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
    Re-appointment of 
    B Wentink as 
8   Director              10,633,660       99.90%        10,835         0.10%    10,644,495       50.92%           250 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
9   Re-appointment of     10,629,286       99.90%        11,159         0.10%    10,640,445       50.90%         4,374 
    Grant Thornton UK 
    LLP as auditors of 
    the Company 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
10  Authority to          10,629,382       99.90%        10,935         0.10%    10,640,317       50.90%         4,428 
    determine the 
    auditors' 
    remuneration 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
11  Authority to allot    10,631,881       99.89%        11,849         0.11%    10,643,730       50.91%         1,015 
    shares (s551 Co 
    Act 2006) 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
    Special 
    Resolutions 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
12  Authority to           2,895,679       99.59%        11,841         0.41%     2,907,520       13.91%     7,737,225 
    disapply 
    pre-emption rights 
    up to 5% of share 
    capital 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
13  Authority to           2,906,098       99.95%         1,550         0.05%     2,907,648       13.91%     7,737,097 
    purchase own 
    shares up to 10% 
    of share capital 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
14  Call General          10,633,769       99.90%        10,848         0.10%    10,644,617       50.92%           128 
    Meeting with less 
    than 21 days' 
    notice 
    ------------------  ------------  -----------  ------------  ------------  ------------  -----------  ------------ 
 

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   Tim Blythe                Michael Wentworth-Stanley 
 Yolanda Bolleurs , CFO   Megan Ray 
                          Camilla Horsfall 
[phone]         [phone]          [phone] 
 

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).

This information is provided by RNS

The company news service from the London Stock Exchange

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June 30, 2017 10:25 ET (14:25 GMT)