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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Petropavlovsk Plc | LSE:POG | London | Ordinary Share | GB0031544546 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.20 | 1.20 | 1.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPOG
RNS Number : 7451D
Petropavlovsk PLC
01 July 2021
1 July 2021
Petropavlovsk PLC
Results of Annual General Meeting
The annual general meeting ("AGM") of the shareholders of Petropavlovsk PLC ("Petropavlovsk" or the "Company") was held at 3 p.m. on 30 June 2021 at London Marriott Hotel Grosvenor Square, Grosvenor Square, London W1K 6JP, United Kingdom.
At the AGM, resolutions 1, 2, 6 to 8 and 10 to 13 were duly passed on a poll, while resolutions 3 to 5, 9 and 14 to 18 did not pass.
James W. Cameron Jr, Petropavlovsk Chairman, said: "The Board would like to thank all of our shareholders who participated in the AGM. Despite the failure of the resolution for the election of Denis Alexandrov as a director, the Board is unanimous in its support for Denis and remains confident in his ongoing stewardship and vision for the future of the Company. The Board and Denis have therefore agreed that he will continue as the Group's CEO. The Board is also conscious that several other proposed resolutions were not approved and we look forward to discussing the reasons for this with shareholders in the coming months. The Board remains committed to strengthening the governance of the group to ensure best practice for all shareholders and working towards our stated ambition of achieving full compliance with the UK Corporate Governance Code."
As resolutions 3 to 5, 9, 14 to 18 received less than 80% of the votes cast in favour, the Board proposes to consult shareholders to discuss any concerns they have which influenced their votes. Once the overall picture has been assimilated, the Company will report to the market on the views received and actions undertaken. This will include consultation by the Remuneration Committee on the directors' remuneration policy proposed for approval pursuant to resolution 3. Following the failure of this resolution to gain support, the policy approved by shareholders on 29 June 2018 will remain in effect.
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 by no later than 30 December 2021 in accordance with the UK Corporate Governance Code 2018.
The table overleaf shows the votes received for and against the resolutions, together with the number of votes withheld in each case.
Resolution Votes For Votes Against Total Votes Votes Withheld Cast No. of % of No. of % of No. of No. of Shares Shares Shares Shares Shares Shares -------------------------- -------------- -------- -------------- -------- -------------- --------------- Ordinary Resolutions To approve the report & accounts for the year ended 31 December 1 2020 2,813,801,645 97.79% 63,734,484 2.21% 2,877,536,129 8,828,852 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To approve the directors' 2 remuneration report 2,412,902,019 83.79% 466,891,678 16.21% 2,879,793,697 6,571,284 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To approve the directors' 3 remuneration policy 977,238,304 33.94% 1,902,178,795 66.06% 2,879,417,099 6,947,882 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To approve changes to the rules of the company's Long-Term 4 Incentive Plan 2020 1,093,088,796 37.96% 1,786,617,435 62.04% 2,879,706,231 6,658,750 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To approve terms of an option plan to be granted to 5 the CEO 596,570,473 20.72% 2,283,162,115 79.28% 2,879,732,588 6,632,393 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To appoint MacIntyre 6 Hudson LLP as auditor 2,815,749,674 97.78% 64,024,710 2.22% 2,879,774,384 6,590,597 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To authorise the directors to determine the remuneration 7 of the auditor 2,815,785,204 97.78% 63,992,233 2.22% 2,879,777,437 6,587,544 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To elect Mr Malay 8 Mukherjee as a director 2,648,647,693 91.98% 231,027,262 8.02% 2,861,674,955 6,696,026 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To elect Mr Denis Alexandrov as a 9 director 1,345,305,055 46.72% 1,534,377,768 53.28% 2,879,682,823 6,682,158 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To elect Mr Mikhail 10 Irzhevsky as a director 2,581,317,692 94.58% 147,805,366 5.42% 2,729,123,058 157,241,923 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To re-elect Mr James W Cameron, Jr as 11 a director 2,326,387,896 94.37% 138,826,572 5.63% 2,465,214,468 421,150,513 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To re-elect Ms Charlotte 12 Philipps as a director 2,199,083,867 89.21% 265,993,599 10.79% 2,465,077,466 421,287,515 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To re-elect Mr Maxim 13 Kharin as a director 2,226,111,525 90.30% 239,011,687 9.70% 2,465,123,212 421,241,769 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To authorise the directors to allot 14 shares 845,205,452 29.35% 2,034,599,316 70.65% 2,879,804,768 6,560,213 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To authorise the directors to allot shares in connection 15 with a rights issue 944,509,418 32.80% 1,935,298,593 67.20% 2,879,808,011 6,556,970 -------------------------- -------------- -------- -------------- -------- -------------- --------------- Special Resolutions To disapply pre-emption 16 rights on an allotment 947,661,186 32.91% 1,932,150,603 67.09% 2,879,811,789 6,553,192 -------------------------- -------------- -------- -------------- -------- -------------- --------------- To disapply pre-emption rights on an allotment 17 for financing purposes 947,423,038 32.90% 1,932,387,694 67.10% 2,879,810,732 6,554,249 -------------------------- -------------- -------- -------------- -------- -------------- --------------- Authority to convene a general meeting on not less than 18 14 clear days' notice 1,772,308,297 61.54% 1,107,501,839 38.46% 2,879,810,136 6,554,845 -------------------------- -------------- -------- -------------- -------- -------------- ---------------
Notes:
1. Resolutions 3 to 5, 9 and 14 to 18 were not approved by shareholders. All other 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 calculations of the votes 'for' or 'against' a resolution.
4. The total number of shares in issue as at close of business on 28 June 2021 was 3,957,270,254 ordinary shares with 3,957,270,254 voting rights.
5. c.72.94% voting capital was instructed.
The voting figures will be displayed shortly on the Company's website at www.petropavlovskplc.com.
This announcement contains inside information.
About Petropavlovsk
Petropavlovsk PLC (LSE: POG. MOEX: POGR) is a major integrated Russian gold producer with JORC Resources of 19.50Moz Au which include Reserves of 7.16Moz Au. Following its IPO on the Alternative Investment Market (AIM) in 2002, Petropavlovsk was promoted to the London Stock Exchange in 2009, where today it is a Premium Listed company and a constituent of the FTSE 250, FTSE 350 and FTSE All Share indices. The Company's shares also trade on the Moscow Exchange and are a constituent of the RTS Index and MOEX Index.
The Company's key operating mines (Pioneer, Malomir and Albyn) and its Pokrovskiy Pressure Oxidation (POX) Hub, are located in the Amur Region in the Russian Far East. Petropavlovsk has produced a total of c.8.3Moz of gold since operations began in 1994 and has a strong track record of mine development, expansion, and asset optimisation.
Petropavlovsk is one of the region's largest employers and one of the largest contributors to the
sustainable development of the local economy.
For more information
Please visit www.petropavlovskplc.com or contact:
Petropavlovsk PLC +44 (0) 20 7201 8900 Patrick Pittaway / Max Zaltsman / Viktoriya TeamIR@petropavlovskplc.com Kim Hudson Sandler +44 (0) 20 7796 4133 Charlie Jack / Katerina Parker / Elfie Petropavlovsk@hudsonsandler.com Kent
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July 01, 2021 03:00 ET (07:00 GMT)
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