Result of AGM

RNS Number : 2706Z

Adriatic Metals PLC

20 May 2021

 

Adriatic Metals PLC 

RESULT OF ANNUAL GENERAL MEETING

Adriatic Metals PLC (ASX:ADT, LON:ADT1) ("Adriatic" or the "Company") held its Annual General Meeting ("AGM") today at Regent House, 65 Rodney Road, Cheltenham GL50 1HX at 07.00am BST on 20 May 2021.

Each of the resolutions contained in the Notice of Meeting was put to the AGM and voted on by way of a poll. All were duly approved.

The total number of votes received on each resolution put to the AGM was as follows:

	Resolution	Votes FOR (a)	%	Votes AGAINST	%	Votes WITHHELD (b)
	ORDINARY RESOLUTIONS
1	Receive Annual Report and Accounts for the six months ended 31 December 2020	78,768,002	100.00	-	0.00	103,814
2	Approve the Annual Report on Remuneration	76,917,929	97.66	1,844,073	2.34	109,814
3	Re-elect Michael Rawlinson as a Director	69,995,250	99.91	63,807	0.09	8,812,759
4	Re-elect Peter Bilbe as a Director	78,314,428	99.42	453,574	0.58	103,814
5	Re-appoint BDO LLP as Auditor	78,768,002	100.00	-	0.00	103,814
6	Authorise the Audit & Risk Committee to determine remuneration of the Auditor	78,758,602	99.99	9,400	0.01	103,814
7	Approve the amendment of terms and conditions of Performance Rights issued to Paul Cronin	70,198,135	93.19	5,131,556	6.81	147,125
8	Authorise Directors to allot shares under s551 Companies Act 2006	78,745,324	99.98	14,367	0.02	112,125
	SPECIAL RESOLUTIONS
9	Authority to disapply pre-emption rights on allotment of shares	73,640,002	93.50	5,118,689	6.50	113,125
10	Authority to purchase own shares	78,765,002	100.00	3,000	0.00	103,814
11	Notice period for General Meetings other than Annual General Meetings	78,700,632	99.92	66,370	0.08	104,814

NOTES:

(a) The "For" proxy vote includes those giving the Chairman discretion.
(b) A vote "Withheld" is not a vote in law and is not counted in the calculation of the proxy votes "For" or "Against" the resolution.

***

The total number of ordinary shares in issue on 18 May 2021, the deadline for casting votes by proxy in advance of the AGM, was 210,247,469 shares. 37.51% of voting capital, including votes withheld, was instructed in respect of the resolutions put to the AGM.

The full text of the resolutions can be found in the Notice of Annual General Meeting, which is available on the Company's website at https://www.adriaticmetals.com/investors/agm/

In accordance with the UK Listing Authority's Listing Rule 9.6.2, copies of all the resolutions passed by the Company's shareholders, other than ordinary business will be submitted to the National Storage Mechanism and will shortly be available for inspection at

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Authorised by, and for further information please contact:

Paul Cronin
Managing Director & CEO
[e-mail]

** ENDS **

Market Abuse Regulation Disclosure

The information contained within this announcement is deemed by Adriatic (LEI: 549300OHAH2GL1DP0L61) to constitute inside ‎information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person ‎responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.

For further information please visit www.adriaticmetals.com or @adriaticmetals visit  on Twitter; or contact:

Adriatic Metals PLC
Paul Cronin / Thomas Horton	Tel: [phone]
Canaccord Genuity Limited (Joint Corporate Broker)
Jeremy Dunlop (Australia)	Tel: [phone]
James Asensio  (UK)	Tel: [phone]
RBC Capital Markets (Joint Corporate Broker)
Marcus Jackson / Jamil Miah	Tel: [phone]
Stifel Nicolaus Europe Limited (Joint Corporate Broker)
Ashton Clanfield / Callum Stewart	Tel: [phone]
Tavistock Communications Limited
Charles Vivian	Tel: [phone]
The Capital Network
Julia Maguire / Lelde Smits	Tel: [phone]

ABOUT ADRIATIC METALS

Adriatic Metals PLC (ASX:ADT, LSE:ADT1) is a precious and base metals developer that is advancing the world-class Vares Silver Project in Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia.

The Vares Project Pre-Feasibility Study boasts robust economics of US$1,040 million post-tax NPV⁸, 113% post-tax IRR and a capex of US$173 million. Adriatic is the only publicly listed mining company exploring in Bosnia and is leveraging its first-mover advantage. The Company is well-funded and concurrent with the advancing Definitive Feasibility Study, continues to explore across its large, highly prospective 41km² concession package.

Adriatic Metals completed the acquisition TSX-listed Tethyan Resource Corp.  in Q4 2020, which contained the Raska Zinc-Silver Project in southern Serbia. The Company is exploring across its 99km² highly prospective concession area, which includes around the formerly operating Kizevak and Sastavci polymetallic mines.

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 15 October 2020 announcement and these assumptions continue to apply and have not materially changed. Adriatic Metals is not aware of any new information or data that materially affects the information included in the announcement of the updated Mineral Resource Estimate announced on 1 September 2020 and all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.

 

END

 

 

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