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MNC Metminco

0.325
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Metminco LSE:MNC London Ordinary Share AU000000MNC7 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.325 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Metminco Limited Result of AGM (4430P)

29/05/2018 7:00am

UK Regulatory


Metminco (LSE:MNC)
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RNS Number : 4430P

Metminco Limited

29 May 2018

 
 AIM ANNOUNCEMENT   29 May 2018 
 
 

METMINCO Results of AGM

Metminco Limited ("Metminco" or the "Company") (ASX: MNC; AIM: MNC) provides the following results from the Company Annual General Meeting ("Meeting") held on 28(th) May 2018. The Company advises that, members unanimously approved all resolutions set out in the Notice of Meeting on a show of hands at the Annual General Meeting held on 28 May 2018.

In accordance with ASX Listing Rule 3.13.2 and Section 251AA of the Corporations Law, set out below are the total number of proxy votes validly received which were exercisable in respect of each resolution considered at the Meeting and the manner in which those appointments specified that the proxies vote.

 
 Resolution                     For       Open at     Against   Abstain/Exempt 
                                       Chairman's 
                                       discretion 
----------------------  -----------  ------------  ----------  --------------- 
 Remuneration Report     38,923,474       529,938   3,684,157        1,099,553 
----------------------  -----------  ------------  ----------  --------------- 
 Re-election - Kevin 
  Wilson                 45,117,188       545,669     639,880           26,063 
----------------------  -----------  ------------  ----------  --------------- 
 Election - Glenister 
  Lamont                 47,731,271       545,669     580,065           23,107 
----------------------  -----------  ------------  ----------  --------------- 
 Ratification 15% 
  Placement              36,594,645       545,669     739,798        1,000,000 
----------------------  -----------  ------------  ----------  --------------- 
 Approval Placement 
  Options                33,782,077       546,883   3,551,031        1,000,121 
----------------------  -----------  ------------  ----------  --------------- 
 Approval Underwriter 
  Options                35,052,639       553,250   6,249,438        1,000,121 
----------------------  -----------  ------------  ----------  --------------- 
 Ratification - 
  Lanstead Shares        46,587,036       553,250     635,547        1,104,279 
----------------------  -----------  ------------  ----------  --------------- 
 Ratification - 
  Redfield Options       40,980,571       553,250   6,244,648        1,101,643 
----------------------  -----------  ------------  ----------  --------------- 
 Approval - Long 
  Term Incentive 
  Plan                   40,326,551     1,120,669   3,773,140        1,108,440 
----------------------  -----------  ------------  ----------  --------------- 
 Approval Performance 
  Rights - Kevin 
  Wilson                 40,984,949       553,250   3,789,853        3,552,060 
----------------------  -----------  ------------  ----------  --------------- 
 Approval Options 
  - Roger Higgins        41,958,347       553,250   3,749,853        2,618,662 
----------------------  -----------  ------------  ----------  --------------- 
 Approval Options 
  - Glenister Lamont     43,475,025       553,250   3,749,853        1,101,984 
----------------------  -----------  ------------  ----------  --------------- 
 

The Company provides the following additional disclosure relating to the appointment of Mr Glenister Lamont as director of Metminco, effective 28 May 2018:

Mr. Glenister Lamont, aged 61, currently holds or has held the following directorships and partnerships over the last five years:

 
 Current directorships      Past directorships 
  and partnerships 
-------------------------  ---------------------------- 
 Golden Rim Resources Ltd   Lort Smith 
-------------------------  ---------------------------- 
                            Quantum Graphite Operations 
 Alexcal Pty Ltd             Pty Ltd 
-------------------------  ---------------------------- 
 Logmaor Pty Ltd            Quantum Graphite Limited 
-------------------------  ---------------------------- 
 Glenrosa Development Pty   Strategic Energy Resources 
  Ltd                        Limited 
-------------------------  ---------------------------- 
                            Strategic Nickel Pty Ltd 
-------------------------  ---------------------------- 
 

Mr. Lamont has the following interests in securities of Metminco at the date of this announcement:

   --      1,875,000 fully paid ordinary shares representing an interest of 0.21% 
   --      625,000 options at with an exercise price of A$0.011 and expiry date 1 June 2020 

-- 14,400,000 options approved at the Meeting subject to the following conditions and on the following terms:

o Tranche 1: 4,800,000 options vesting on Metminco achieving a 30 day Volume Weighted Average Price ("VWAP") of A$0.012 before an expiry date of 31 December 2018 and with an exercise price of A$0.012 per option;

o Tranche 2: 4,800,000 options vesting on Metminco achieving a 30 day VWAP of A$0.016 cents before an expiry date of 31 December 2019 and with an exercise price of A$0.016 per option; and

o Tranche 3: 4,800,000 options vesting on Metminco achieving a 30 day VWAP of A$0.024 before an expiry date of 31 December 2020 and with an exercise price of A$0.024 per option.

Except as disclosed in this announcement, neither the Company nor Mr. Lamont are aware of any further disclosures that are required in respect of the appointment of Mr. Glenister Lamont under Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.

Mr Kevin Wilson has the following interests in securities at the date of this announcement.

   --      2,551,312 fully paid ordinary shares representing an interest of 0.28%; 
   --      850,436 options at with an exercise price of A$0.011 and expiry date 1 June 2020; 

-- 4,166,667 Underwriter options, from resolution 6 of the AGM, with an exercise price of A$0.011 and expiry date 1 June 2020; and

   --      58,000,000 Performance Rights approved at the Meeting with the following conditions: 

--

o Tranche 1 - 11,600,000 Performance Rights vesting on Metminco achieving a 30 day VWAP of A$0.012 before December 31, 2018;

o Tranche 2 - 11,600,000 Performance Rights vesting on Metminco achieving a 30 day VWAP of A$0.016 before December 31, 2019;

o Tranche 3 - 11,600,000 Performance Rights vesting on delivery of a Resource of at least 1 million ounces gold at Tesorito before December 31, 2019;

o Tranche 4 - 11,600,000 Performance Rights vesting on Metminco achieving a 30 day VWAP of A$0.024 before December 31, 2020; and

o Tranche 5 - 11,600,000 Performance Rights vesting on delivery of a Resource of at least 1 million ounces gold at Chuscal before December 31, 2020.

Dr. Roger Higgins has the following interests directly or indirectly in securities of Metminco at the date of this announcement:

   --      1,516,678 fully paid ordinary shares representing an interest of 0.17%; 
   --      417,637 options at with an exercise price of A$0.011 and expiry date 1 June 2020; and 

-- 14,400,000 options approved at the Meeting subject to the following conditions and on the following terms:

o Tranche 1: 4,800,000 options vesting on Metminco achieving a 30 day VWAP of A$0.012 before an expiry date of 31 December 2018 and with an exercise price of A$0.012 per option;

o Tranche 2: 4,800,000 options vesting on Metminco achieving a 30 day VWAP of A$0.016 cents before an expiry date of 31 December 2019 and with an exercise price of A$0.016 per option; and

o Tranche 3: 4,800,000 options vesting on Metminco achieving a 30 day VWAP of A$0.024 before an expiry date of 31 December 2020 and with an exercise price of A$0.024 per option.

The Company also advises that Mr. Francisco Vergara-Irarrazaval has stepped down from the Company's board, effective 28 May 2018, as he did not stand for re-election at the Meeting as previously advised. The Company thanks Mr. Vergara-Irarrazaval for his contributions.

Yours faithfully

Geoffrey Widmer

Joint Company Secretary

 
 
   For further information, 
   please contact: 
   METMINCO LIMITED 
 Kevin Wilson                      Mobile: +61 (0) 409 
                                    942 355 
 Geoffrey Widmer                   Mobile: +61 (0) 419 
                                    301 601 
 Andrew Metcalfe                   Mobile: +61 (0) 412 
                                    125 090 
 
 NOMINATED ADVISOR AND BROKER 
 RFC Ambrian 
 Australia 
 Andrew Thomson/Alena Broesder     Office: +61 (0) 2 
                                    9250 0000 
 
 United Kingdom 
 Charlie Cryer                     Office: +44 (0) 20 
                                    3440 6800 
 
 JOINT BROKER 
 SP Angel Corporate Finance 
  LLP (UK) 
 Ewan Leggat                       Office: +44 (0) 20 
                                    3470 0470 
 
 PUBLIC RELATIONS 
 Camarco 
  United Kingdom 
 Gordon Poole / Nick Hennis        Office: + 44 (0) 20 
                                    3757 4997 
 
 

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.

END

RAGEASSNAESPEEF

(END) Dow Jones Newswires

May 29, 2018 02:00 ET (06:00 GMT)

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