ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for monitor Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.

FXPO Ferrexpo Plc

43.70
0.65 (1.51%)
21 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ferrexpo Plc LSE:FXPO London Ordinary Share GB00B1XH2C03 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.65 1.51% 43.70 43.30 43.40 43.95 42.40 42.60 12,370,502 16:35:20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Iron Ores 1.25B 220M 0.3678 1.18 259.59M

Ferrexpo PLC Result of AGM

23/05/2024 12:55pm

RNS Regulatory News


RNS Number : 6974P
Ferrexpo PLC
23 May 2024
 

23 May 2024

Ferrexpo plc

 ("Ferrexpo", the "Company" or the "Group")

 

Results of Annual General Meeting

 

The results of voting at Ferrexpo's Annual General Meeting ("AGM") held today, 23 May 2024, are summarised below.  All Resolutions were voted by way of a poll.

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 (excluding the Company's controlling shareholder) and a majority of all shareholders. In order to determine this, votes cast by the independent shareholders were counted separately in respect of the election or re-election of Fiona MacAulay, Stuart Brown, Vitalii Lisovenko and Natalie Polischuk and the results of that separate count are set out below.

Voting Results

 

For/Discretion

Against

Total votes cast

Votes withheld1

Resolution

No. of votes

% of votes cast2

No. of votes

% of votes cast2

No. of votes

No. of votes

1.   To receive the 2023 Report and Accounts

430,425,645

99.98

86,028

0.02

430,511,673

485,040

2.   To approve the Remuneration Report (apart from the remuneration policy)

421,094,924

97.71

9,868,618

2.29

430,963,542

33,171

3.   To approve the Remuneration Policy

426,640,702

99.00

4,318,635

1.00

430,959,337

37,376

4.   To re-appoint MHA MacIntyre Hudson as the Company's auditors

430,819,275

99.97

138,449

0.03

430,957,724

38,989

5.   To authorise the Audit Committee to determine the auditors remuneration

430,834,727

99.97

124,405

0.03

430,959,132

37,581

6.   To elect Stuart Brown as a director

All

430,645,739

99.93

297,809

0.07

430,943,548

53,165

Independent

135,652,053

99.78

297,809

0.22

135,949,862

53,165

7.   To elect Nikolay Kladiev as a director

429,057,516

99.56

1,898,602

0.44

430,956,118

40,595

8.   To re-elect Lucio Genovese as a director

378,502,260

88.20

50,651,675

11.80

429,153,935

1,842,778

9.   To re-elect Vitalii Lisovenko as a director

All

358,284,529

83.47

70,968,061

16.53

429,252,590

1,744,123

Independent

63,290,843

47.14

70,968,061

52.86

134,258,904

1,744,123

10. To re-elect Fiona MacAulay as a director

All

419,818,254

97.44

11,020,128

2.56

430,838,382

158,331

Independent

124,824,568

91.89

11,020,128

8.11

135,844,696

158,331

11. To re-elect Natalie Polischuk

All

430,050,977

99.79

895,273

0.21

430,946,250

50,463

Independent

135,057,291

99.34

895,273

0.66

135,952,564

50,463

12. To amend the Ferrexpo Long Term Incentive Plan

426,733,753

99.06

4,061,331

0.94

430,795,084

201,629

13. To grant the directors' authority to allot shares

130,598,859

30.30

300,383,082

69.70

430,981,941

14,772

14. To grant the directors' authority to disapply pre-emption rights

131,257,190

30.46

299,696,741

69.54

430,953,931

42,782

15. To renew the authority for the Company to make market purchases of its own shares

424,988,285

98.68

5,676,879

1.32

430,665,164

331,549

16. To adopt the new articles of association of the Company

430,809,119

99.97

109,054

0.03

430,918,173

78,540

17. To approve a 14 clear days' notice period for a general meeting other than an AGM

428,139,458

99.34

2,844,672

0.66

430,984,130

12,583

 

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



 

Significant Votes Against Resolutions

The Board of Ferrexpo notes that there were a significant proportion (more than 20%) of votes cast against the resolutions to grant the directors authority to allot shares and to grant the directors authority to disapply pre-emption rights, and ultimately these resolutions did not pass.  The Board of Ferrexpo understands that this voting outcome was primarily as a result of the Company's largest shareholder not wanting to incur further dilution to its voting interest in the Company. There were also a significant proportion (more than 20%) of votes cast against the re-election of one of our Company directors based on the outcome of the votes of the independent shareholders.

The Board will consult and engage with shareholders to better understand the reasons behind these votes and will publish an update of its shareholder engagement within six months of today's AGM.

As the re-appointment of Vitalii Lisovenko, as one of the Independent Non-executive Directors, did not receive the requisite votes required for re-appointment by a majority of the independent shareholders, the Company may, in accordance with the UK Listing Rules, put the matter to a second vote of all shareholders to be held between 90 and 120 days after the AGM.  Pending the second vote, Mr Lisovenko shall remain a member of the Board of Ferrexpo for the period from the date of the AGM until the earlier of (a) the conclusion of any second vote, (b) the date 120 days after the AGM and (c) the date of any announcement by the Board that it does not intend to hold a second vote.  If Mr Lisovenko's re-election is approved by a majority vote of all shareholders at the second vote, he will then be re-elected until the next AGM.

The Board currently intends to hold a second vote for the re-appointment of Mr Lisovenko as the Directors believe his expertise and contribution as a director is important for the Company. Further announcements will be made in due course.

Further Disclosures

As at the date of the AGM, the Company's issued share capital (excluding treasury shares) consisted of 598,137,142 Ordinary Shares carrying one vote each. Therefore, the total number of voting rights as at the date of the AGM was 598,137,142.

In accordance with Listing Rule 9.6.2, 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 inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

For further information, please contact:

 

Ferrexpo:                     

Nick Bias                         n.bias@ferrexpo.ch            +44 (0)20 7389 8305

+44 (0)7733 177 831

Tavistock:                    

Jos Simson                     ferrexpo@tavistock.co.uk +44 (0)20 7920 3150

Gareth Tredway                                                            +44 (0)7785 974 264

 

Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high-grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group's iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore. Ferrexpo's operations have been supplying the global steel industry for over 50 years. Before Russia's invasion of Ukraine in February 2022, the Group was the world's third largest exporter of pellets to the global steel industry. The Group has a customer base comprising of premium steel mills around the world. For further information, please visit www.ferrexpo.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
RAGFXLFLZELZBBK

1 Year Ferrexpo Chart

1 Year Ferrexpo Chart

1 Month Ferrexpo Chart

1 Month Ferrexpo Chart

Your Recent History

Delayed Upgrade Clock