Ferrexpo PLC Result of AGM (5800B)

TIDMFXPO

RNS Number : 5800B

Ferrexpo PLC

07 June 2019

7 June 2019

FERREXPO plc

("Ferrexpo" or the "Group")

Results of AGM

The results of voting at Ferrexpo's annual general meeting held today, 7 June 2019, are summarised below. All Resolutions were voted by way of a poll and were carried.

As stated in the Company's AGM Notice and under Listing Rule 9.2.2E, a resolution to elect or re-elect an Independent Director must be passed by both a majority of the independent shareholders (i.e. shareholders of the Company who are entitled to vote on the election of Directors and who are not controlling shareholders) and a majority of all shareholders (including the majority shareholder). In order to determine this, votes cast by the independent shareholders were counted separately in respect of the re-election of Vitalii Lisovenko and are set out below.

 
                                      For/Discretion                     Against           Total votes    Votes 
                                                                                            cast           withheld(1) 
 Resolution                No. of votes                % of       No. of        % of       No. of votes   No. of 
                                                        votes      votes         votes                     votes 
                                                        cast(2)                  cast(2) 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 1. To receive 
  the 2018 Report 
  and Accounts                           327,515,510      66.69   163,562,093      33.31    491,077,603        633,499 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 2. To approve 
  the Remuneration 
  Report (apart 
  from the remuneration 
  policy)                                484,428,472      98.71     6,348,979       1.29    490,777,451        933,652 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 3. To approve 
  the 6.6 US 
  cents final 
  dividend                               490,376,871      99.73     1,326,632       0.27    491,703,503          7,600 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 4. To elect 
  Lucio Genovese 
  as a director                          478,756,022      97.37    12,946,281       2.63    491,702,303          8,800 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 5. To re-elect 
  Vitalii Lisovenko 
  as a director                    All   449,898,269      93.85    29,470,347       6.15    479,368,616     12,342,486 
                          ------------  ------------  ---------  ------------  ---------  -------------  ------------- 
 
                           Independent   153,820,325      83.92    29,470,347      16.08    183,290,672     12,342,486 
                          ------------  ------------  ---------  ------------  ---------  -------------  ------------- 
 6. To re-elect 
  Stephen Lucas 
  as a director                          440,371,710      91.69    39,922,958       8.31    480,294,668     11,416,434 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 7. To re-elect 
  Christopher 
  Mawe as a director                     453,318,319      94.77    25,016,936       5.23    478,335,255     13,375,848 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 8. To re-elect 
  Kostyantin 
  Zhevago as 
  a director                             448,196,940      93.70    30,137,502       6.30    478,334,442     13,376,660 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 9. To authorise 
  the directors 
  to allot shares                        489,923,996      99.64     1,779,507       0.36    491,703,503          7,600 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 10. To empower 
  the directors 
  to disapply 
  pre-emption 
  rights                                 490,385,200      99.74     1,288,303       0.26    491,673,503         37,600 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 11. To authorise 
  the Company 
  to make market 
  purchases of 
  its own shares                         481,795,693      98.47     7,510,621       1.53    489,306,314      2,404,788 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 12. To approve 
  a 14 clear 
  days' notice 
  period for 
  a general meeting 
  other than 
  an AGM                                 481,242,870      97.87    10,459,633       2.13    491,702,503          8,600 
                          --------------------------  ---------  ------------  ---------  -------------  ------------- 
 

1. A vote withheld is not a vote in law and is not counted in the calculation of votes validly cast for or against a resolution

   2.          Excluding votes withheld 

We have engaged with a number of our shareholders in recent weeks concerning all resolutions and would like to thank them for giving us the opportunity to speak to them ahead of our AGM. We note the result of Resolution 1 (To receive the 2018 Report and Accounts) with disappointment but are pleased that the majority of our shareholders, including the Company's major shareholders, were supportive in their vote. The Board takes the views of shareholders extremely seriously, and we will continue to engage with all shareholders on this subject going forward to better understand the reasons behind the vote result. The Chairman welcomes the opportunity to discuss the outcome of the votes with any shareholder who wishes to do so.

As at the date of the AGM, the Company's issued share capital (excluding treasury shares) consisted of 588,624,142 Ordinary Shares carrying one vote each. Therefore, the total number of voting rights as at the date of the AGM was 588,624,142.

In accordance with Listing Rule 9.6.2R, Ferrexpo plc has submitted a copy of the resolutions dealing with the special business put to shareholders at the AGM today to the National Storage Mechanism, which will shortly be available for viewing at http://www.morningstar.co.uk/uk/nsm

For further information contact:

Ferrexpo:

 
 Ingrid McMahon    [phone] 
 

Maitland/AMO:

 
 Neil Bennett    [phone] 
 

Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for 40 years. Ferrexpo's resource base is one of the largest iron ore deposits in the world. In 2018, the Group produced 10.6 million tonnes of pellets, a 2% increase compared to 2017, ranking it as the 3rd largest exporter of pellets to the global steel industry with a market share of approximately 8%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com

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June 07, 2019 11:07 ET (15:07 GMT)