Petropavlovsk PLC Results of Annual General Meeting (1380C)

TIDMPOG

RNS Number : 1380C

Petropavlovsk PLC

13 June 2019

13 June 2019

Petropavlovsk PLC (the "Company")

Results of Annual General Meeting

The Annual General Meeting of the Shareholders of Petropavlovsk PLC (the "Company") was held at 11 a.m. on 13 June 2019 at 107 Cheapside, London EC2V 6DN (the "AGM").

All of the resolutions proposed by the Board were duly passed on a poll, with the exception of Resolutions 13 and 14. The table below shows the votes received 'For' and 'Against' the Resolutions, together with the number of votes 'Withheld'.

The Board notes that Resolutions 9, 10, 11 and 12 were passed with less than 80% of the votes in favour. In the coming months, the Board will undertake consultations with certain of the Company's shareholders to address any concerns they may have. Once the overall picture has been assimilated the Company will report to the market on the views received and actions undertaken.

In respect of Resolutions 12 and 13 relating to the application of disapplication rights, the authority sought by the Company is aligned with the Investment Association's share capital guidelines and market practice for FTSE listed companies. However, these Special Resolutions, which require at least 75% support from shareholders who voted, were not approved. Accordingly, the Board will also consult with shareholders to understand their concerns in this respect.

A further statement detailing the outcome of the Company's consultation with its shareholders, including any actions taken as a result, will be published by the Company within six months of the 2018 Annual General Meeting in accordance with the revised UK Corporate Governance Code published in July 2018.

 
                             Votes For                Votes Against          Vote Withheld      Total Votes 
                                                                                                Cast (Excl. 
                                                                                                 Withheld) 
                      No of shares    % of      No of Shares   % of Shares 
                                       Shares                   Voted                   No of Shares 
     Resolution                        Voted 
                     --------------  --------  -------------  ------------  ---------------------------------- 
     Adoption of 
      Report and 
 1    Accounts        2,180,908,977     99.94      1,357,261          0.06           120,286     2,182,266,238 
    ---------------  --------------  --------  -------------  ------------  ----------------  ---------------- 
     Approval of 
      Directors' 
      Remuneration 
 2    Report          2,072,264,402     96.35     78,544,342          3.65        31,577,780     2,150,808,744 
    ---------------  --------------  --------  -------------  ------------  ----------------  ---------------- 
     Re-appointment 
 3    of Auditor      2,175,799,414     99.86      2,982,912          0.14         3,604,198     2,178,782,326 
    ---------------  --------------  --------  -------------  ------------  ----------------  ---------------- 
     Remuneration 
 4    of Auditor      2,180,115,768     99.90      2,165,153          0.10           105,603     2,182,280,921 
    ---------------  --------------  --------  -------------  ------------  ----------------  ---------------- 
 
 
 
                                       Votes For                Votes Against          Vote Withheld     Total Votes 
                                                                                                         Cast (Excl. 
                                                                                                          Withheld) 
                                No of shares    % of      No of Shares   % of Shares 
                                                 Shares                   Voted                  No of Shares 
          Resolution                             Voted 
                               --------------  --------  -------------  ------------  -------------------------------- 
      Election of 
       Mr James W. 
 5     Cameron Jr               1,967,360,991     91.47    183,413,322          8.53        31,612,212   2,150,774,313 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
      Election of 
       Mr Damien 
 6     Hackett                  1,967,344,470     91.47    183,429,843          8.53        31,612,212   2,150,774,313 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
      Election of 
 7     Mr Harry Kenyon-Slaney   1,967,342,082     91.47    183,432,231          8.53        31,612,212   2,150,774,313 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
      Election of 
       Mr Bektas 
 8     Mukazhanov               1,607,606,381     74.75    543,136,819         25.25        31,643,324   2,150,743,200 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
      Re-election 
       of Sir Roderic 
 9     Lyne                     1,538,864,959     71.60    610,525,192         28.40        32,996,373   2,149,390,151 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
      Re-election 
       of Dr Pavel 
 10    Maslovskiy               1,997,547,086     91.53    184,767,834          8.47            71,604   2,182,314,920 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
      Re-election 
       of Mr Robert 
 11    Jenkins                  1,605,293,568     74.69    544,094,923         25.31        32,998,033   2,149,388,491 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
      Authority 
 12    to allot shares          1,604,083,456     73.51    578,102,431         26.49           200,638   2,182,185,887 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
      Disapplication 
       of pre-emption 
 13    rights*                  1,601,296,417     73.43    579,320,254         26.57         1,769,854   2,180,616,671 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
      Disapplication 
       of pre-emption 
       rights (additional 
 14    5%)*                     1,600,165,093     73.38    580,451,905         26.62         1,769,526   2,180,616,998 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
      General Meeting 
       with 14 clear 
 15    days' notice*            1,993,262,046     91.34    189,064,499          8.66            59,980   2,182,326,545 
     ------------------------  --------------  --------  -------------  ------------  ----------------  -------------- 
 
 

Notes:

   (1)   Votes "For" and "Against" are expressed as a percentage of votes received 

(2) A Vote "Withheld" is not a vote in law and is not counted in the calculation of the votes "For" or "Against" a Resolution

(3) The total number of ordinary shares in issue as at 11 June 2019 was 3,310,210,281 with 3,310,210,281 voting rights. Votes were cast in respect of 2,182,386,525 representing c.65.9% of issued share capital

   (4)   Special Resolution* 

The voting figures will be displayed shortly on the Company's website at www.petropavlovsk.net

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

About Petropavlovsk PLC

Petropavlovsk is one of Russia's major gold mining companies, both in terms of production and the size of its resources. With a strong track record of mine development, expansion and asset optimisation, the Company has entered a new era of growth following the successful commissioning and start-up of the Pokrovskiy POX Hub. The Company is a leading employer and contributor to the development of the local economy in the Amur region, Russian Far East, where it has operated since 1994. The Company and its subsidiaries (together, the "Group") is vertically-integrated with expertise and operations across the entire mining lifecycle, and its in-house exploration team has a strong track record of identifying new targets and adding to the Group's resource base.

The Company is listed on the Main Market of the London Stock Exchange (POG:LN)

Enquiries

For more information, please visit www.petropavlovsk.net and www.ircgroup.com.hk or contact:

 
 Petropavlovsk PLC           Buchanan 
  Patrick Pittaway            Bobby Morse 
  Max Zaltsman                Ariadna Peretz 
  [phone]        [phone] 
  [e-mail]    [e-mail] 
 

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June 13, 2019 09:40 ET (13:40 GMT)