Cradle Arc PLC Results of General Meeting (7478A)

TIDMCRA

RNS Number : 7478A

Cradle Arc PLC

13 September 2018

Cradle Arc plc / EPIC: CRA.L / Market: AIM / Sector: Mining

13 September 2018

Cradle Arc plc

("Cradle Arc" or the "Company")

Results of General Meeting

Cradle Arc (AIM: CRA), the African focused base and precious metals exploration and production company, announces the results of its General Meeting held earlier today.

Resolution numbered 1 put to the General Meeting was passed by the requisite majority. Resolutions numbered 2 and 3 put to the General Meeting were not passed by the requisite majority.

Each of the resolutions put to the General Meeting was voted on by way of a poll. The results of the poll are set out below:

 
 Resolution Number /            Type             For      Against     Withheld        Total   Votes 
  Description                                                                       validly     for 
                                                                                     Voted*       % 
---------------------------  ----------  -----------  -----------  -----------  -----------  ------ 
 
 1) To receive and adopt 
  the Company's annual 
  report and accounts         Ordinary    66,776,575    6,073,074   16,987,700   72,849,649    91.7 
 2) To authorise the 
  Directors to allot 
  equity securities           Ordinary     4,536,575   85,280,763       20,011   89,817,338     5.1 
 3) To disapply statutory 
 pre-emption rights            Special     4,536,586   85,300,763            -   89,837,349     5.0 
 
 

* - Please note that a vote withheld is not a vote in law and is therefore not counted in the calculation of votes for or against a resolution.

The Board notes that Penmin Botswana (Pty) Limited (which is interested in approximately 41.8 per cent. of the Company's issued share capital and which is connected with Kevin van Wouw, CEO of the Company), refrained from voting on any of the resolutions proposed at the General Meeting, following indications, via proxies, from certain significant shareholders, that they are not supportive of certain of the resolutions. The Company will seek to consult with such significant shareholders over the coming weeks regarding this aspect of the business of the meeting.

**ENDS**

For further information on the Company, please visit www.cradlearc.com or contact:

 
 Cradle Arc plc                     Tel: [phone] 
  Kevin van Wouw 
  Mark Jones 
 Strand Hanson Limited 
  James Spinney                       Tel: [phone] 
  Matthew Chandler 
  James Dance 
 SP Angel Corporate Finance         Tel: [phone] 
  LLP 
  Ewan Leggat 
  John Meyer 
 Tavistock Communications Limited   Tel: [phone] 
  Charles Vivian 
  Gareth Tredway 
 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

About Cradle Arc

AIM-quoted Cradle Arc plc is the 60 per cent. owner of the Mowana copper mine in Botswana, an operational open pit mine and processing facility located in the north-east of the country, approximately 120km northwest of Francistown.

The Company recently released a maiden open pit ore reserve estimate (Proved and Probable) of 31.8Mt at 1.17% Cu for 370,800 tonnes contained copper metal, based on a Dense Media Separation (DMS) mine plan.

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END

ROMUOONRWAAKAAR

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September 13, 2018 12:32 ET (16:32 GMT)