MOD Resources Limited Results of General Meeting (2901O)

TIDMMOD

RNS Number : 2901O

MOD Resources Limited

01 October 2019

1 October 2019

MOD Resources Limited

("MOD" or the "Company")

Results of General Meeting

MOD Resources Ltd (ASX/LSE:MOD) is pleased to announce that MOD shareholders approved the resolution put forward to shareholders at the General Meeting held today.

It was a condition precedent to the scheme of arrangement by which Sandfire Resources NL will acquire all of the ordinary shares in MOD becoming effective that shareholders approve the resolution put forward at the General Meeting.

In accordance with Listing Rule 3.13.2 and section 251AA of the Corporations Act 2001 (Cth), a detailed report of the votes cast in respect to the resolution approving the Scheme is included as Appendix 1 to this announcement.

For and on behalf of the Board.

 
Julian Hanna                Mark Clements 
 Managing Director           Executive Chairman and Company 
                             Secretary 
Jeff Sansom                 Jos Simson / Emily Moss (UK PR 
 Investor Relations          & IR) 
 E: [e-mail]   Tavistock 
 P: [phone]        P: [phone] 
                             P: [phone] 
                             E: [e-mail] 
 

Subscribe at: www.modresources.com.au

About MOD Resources

MOD Resources Ltd (ASX/LSE: MOD) is a dual listed copper exploration and development company with a dominant land position within the Kalahari Copper Belt in Botswana. The Company is focussed on developing the 100% MOD owned T3 Copper Project, which has potential to be a high-margin, low-cost copper mine. In parallel with the progressing towards the development of the T3 Copper Project, MOD has undertaken substantial exploration programs across several priority drill targets and within untested areas of interesting and potentially significant Electromagnetic and Cu-Zn soil anomalies.

MOD and its in-country operating companies Tshukudu Metals Botswana (Pty) Ltd and Tshukudu Exploration (Pty) Ltd have a social licence to operate within Botswana as well as within the host community of Ghanzi. MOD continues to work collaboratively with Government regulators and members of the Ghanzi District community to ensure that any social investments and developments are targeted to create a positive and lasting legacy.

On 25 June 2019, the Company announced Sandfire had made an offer to acquire 100% of MOD shares by way of a Scheme of Arrangement.

Appendix 1: Voting results of the General Meeting

The following information is provided in accordance with section251AA(2) of the Corporations Act 2001 (Cth).

GENERAL MEETING

Tuesday, 1 October 2019

 
                                      Manner in which the security holder directed          Manner in which votes were cast      Resolution 
                                                    the proxy to vote                        in person or by proxy on a poll       Result 
                                                   (as at proxy close)                             (where applicable) 
------------------------------- 
 Resolution                          Votes        Votes         Votes          Votes          For        Against     Abstain*     Carried/ 
                                      For        Against    Discretionary     Abstain                                               Not 
                                                                                                                                  Carried 
------------------------------- 
     Approval of the Proposed 
 1    Transaction                 131,933,047   2,394,570                      1,667      132,013,123   2,394,570     1,667       Carried 
                                     98.20%       1.78%         32,701                       98.22%       1.78% 
                                                                 0.02% 
    --------------------------- 
 
 

* Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.

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END

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October 01, 2019 02:36 ET (06:36 GMT)