Gem Diamonds Limited Result of Annual General Meeting (1156B)

TIDMGEMD

RNS Number : 1156B

Gem Diamonds Limited

04 June 2019

4 June 2019

GEM DIAMONDS LIMITED

("Gem Diamonds" or 'the Company')

RESULT OF ANNUAL GENERAL MEETING

At the Company's Annual General Meeting held at Linklaters LLP, One Silk Street London EC2Y 8HQ, on the 4th June 2019 at 09.30am. All resolutions were decided by poll.

All the resolutions were duly passed. The results of the poll incorporating proxy votes lodged in advance of the meeting are set out below: -

 
                                                              FOR 
                                                          (% of shares                      AGAINST 
ORDINARY RESOLUTIONS                       FOR               voted)     AGAINST        (% of shares voted)  WITHHELD 
 
RESOLUTION 1 
 Report and Accounts                       112,481,583   99.99%         6,616       0.01%                   1,024,434 
RESOLUTION 2 
 Annual Report on Directors' Remuneration  93,250,698    83.91%         17,881,133   16.09%                 2,380,802 
RESOLUTION 3 
 Appointment of Auditor                    92,727,789   96.46%          3,399,236   3.54%                   17,385,608 
RESOLUTION 4 
 Remuneration of Auditor                   112,488,200   99.10%         1,024,434    0.90%                  0 
RESOLUTION 5 
 Re-election of Mr Harry Kenyon-Slaney as 
 a Director                                86,955,723    76.60%         26,556,910   23.40%                 0 
RESOLUTION 6 
 Re-election of Mr Mike Brown as a 
 Director                                  109,272,986   98.32%         1,864,845    1.68%                  2,374,802 
RESOLUTION 7 
 Re-election of Mr Michael Lynch-Bell as 
 a Director                                91,446,029    80.56%         22,060,604   19.44%                 6,000 
RESOLUTION 8 
 Re-election of Mr Clifford Elphick as a 
 Director                                  89,356,069    78.72%         24,156,564   21.28%                 0 
RESOLUTION 9 
 Re-election of Mr Michael Michael as a 
 Director                                  93,978,961    82.79%         19,533,673   17.21%                 0 
RESOLUTION 10 
 Election of Mr Johnny Velloza as a 
 Director                                  109,063,726   96.08%         4,448,907    3.92%                  0 
RESOLUTION 11 
 Authority to allot shares                 96,124,095    84.68%         17,388,539   15.32%                 0 
 
SPECIAL RESOLUTIONS 
 
RESOLUTION 12 
 Disapplication of standard pre-emption 
 rights                                    96,124,729    84.68%         17,387,905   15.32%                 0 
RESOLUTION 13 
 Disapplication of additional pre-emption 
 rights                                    93,749,926    82.59%         19,762,707   17.41%                 0 
RESOLUTION 14 
 Purchase of own shares                    111,135,331   97.91%         2,377,302    2.09%                  0 
 

1. All resolutions were passed.

2. Votes "For" and "Against" are expressed as a percentage of votes received.

3. A "Vote withheld" is not a vote in law and is not counted in the calculation of the % of shares voted "For" or "Against" a resolution.

4.The Company notes the votes received on resolutions 5 and 8 ("Re-election of Harry Kenyon-Slaney as a director and re-election of Clifford Elphick as a director"). In accordance with the UK Corporate Governance Code, the Company plans to consult with relevant shareholders to understand the reasons behind the results on those resolutions and address any concerns they may have. Once the outcomes of the consultations have been assimilated, an update will be provided in due course on the views received from such shareholders and any actions taken.

5. The total voting rights of the Company on 4 June 2019 is 138,956,545 Ordinary Shares of US$ 0.01 each. The Company holds no Ordinary Shares in Treasury.

6. In accordance with LR 9.6.2, copies of the resolutions passed as special business will be submitted to the National Storage Mechanism website and will be available for inspection at www.morningstar.co.uk/uk/NSM.

7. These poll results will be available shortly on the Company's website www.gemdiamonds.com

The Gem Diamonds Limited LEI number is 213800RC2PGGMZQG8L67.

For further information:

Gem Diamonds Limited

Susan Wallace, Company Secretarial department

Tel: [phone]

[e-mail]

Celicourt Communications

Mark Antelme/Jimmy Lea

Tel: [phone]

ABOUT GEM DIAMONDS:

Gem Diamonds is a leading global diamond producer of high value diamonds. The Company owns 70% of the Letšeng mine in Lesotho and 100% of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.

www.gemdiamonds.com

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June 04, 2019 09:38 ET (13:38 GMT)