Result of AGM

RNS Number : 9760L

SolGold PLC

19 August 2013

 



19 August 2013

Announcement to London Stock Exchange

SolGold plc

Results of Annual General Meeting

SolGold plc (AIM: SOLG) confirms that all resolutions put to shareholders were duly passed by a show of hands at the Company's Annual General Meeting, held on 19 August 2013 in Brisbane, Australia.

A breakdown of proxy votes is set out below:

		Votes for (1)	% (2)	Votes against	% (2)	Abstain (3)
	Ordinary Business
1.   To receive the Company's financial statements and the report of the Directors and auditors for the year ended 30 June 2012.		212,643,070	100%	Nil		35,000
2.   To re-elect Nicholas Mather as a Director of the Company.		212,601,685	99.9%	74,385	0.1%	5,000
3.   To approve the grant of 3 million Options (exercisable at £0.06 each, expiring 12 months from the time of their allotment) to Mather Investments (Qld) Pty Ltd, an entity associated with Nicholas Mather, a Director of the Company.		146,022,442	99.9%	103,595	0.1%	66,585,033
4.   To appoint BDO (UK) LLP as auditors of the Company to hold office from the conclusion of the meeting to the conclusion of the next meeting at which accounts are laid before the Company at a remuneration to be determined by the Directors.		212,526,655	99.9%	154,385	0.1%	Nil
5.   That the Directors be generally and unconditionally authorised for the purposes of section 551 of the Companies Act 2006 ("Act") to exercise all the powers of the Company to allot equity securities in the Company up to an aggregate nominal amount of £2,000,000.		212,323,301	99.9%	103,595	0.1%	254,174

		Votes for (1)	% (2)		Votes against	% (2)		Abstain (3)
6.   That the Board be authorised to communicate via electronic means with shareholders for the purposes of despatching Annual Reports, Notices of Meetings, and other materials relevant to shareholders in accordance with the Articles.		212,598,970		99.9%	80,100		0.1%	2,000
7.   To approve the grant of  the following Options to Alan Martin, namely: (a)     3 million Options exercisable at £0.14, vesting once the Company's  share price has traded at a minimum of £0.20 on a 30 day VWAP basis; (b)     5 million Options exercisable at £0.28, vesting once the Company's share price has traded at a minimum of £0.40 on a 30 day VWAP basis; and (c)     8 million Options exercisable at £0.50, vesting once the Company's share price has traded at a minimum of £0.80 on a 30 day VWAP basis, and otherwise on the terms set forth in full in the Notice of Meeting.		212,213,301		99.9%	133,595		0.1%	334,174
	Special Business
8.	That, subject to the passing of resolution 5, the Directors be empowered pursuant to section 570 of the Act to allot equity securities as if section 561(1) of the Act did not apply.	212,312,686	99.9%		104,210	0.1%		264,174

Notes:

(1)   Any proxy appointments which gave discretion to the Chairman have been included in the "for" total.

(2)   As a percentage of the aggregate of votes "for" plus votes "against".

(3)   An abstention is not counted towards the votes cast "for" or "against" a resolution.

For further enquiries contact:

Mr Alan Martin

SolGold plc (Chief Executive Officer)                                                          Tel: [phone]

[e-mail] 

Mr Nicholas Mather                                                                                        Tel: [phone]

SolGold plc (Executive Director)

[e-mail] 

Mr Karl Schlobohm                                                                                         Tel: [phone]

SolGold plc (Company Secretary)

[e-mail] 

Mr Ewan Leggat / Katy Birkin                                                                      Tel: [phone]

SP Angel Corporate Finance LLP (Broker)

[e-mail]  

Mr Stephen Weir                                                                                             Tel: [phone]

RFC Ambrian Limited (Nominated Advisor)

[e-mail] 

Mr Dominic Barretto / Anna Legge                                                           Tel: [phone]

Yellow Jersey PR Limited (Financial PR)

[e-mail]

[e-mail]  

NOTES TO EDITORS

SolGold's exploration projects are located in northern Ecuador,Australia, and the Solomon Islands. In Ecuador, they consist of a JV with Cornerstone Capital Resources Inc. on the Cascabel copper-gold project. In Australia, SolGold holds 100% of the Rannes, Mt Perry, Cracow West and Normanby Projects, all in southeast Queensland and in the Solomon Islands they comprise the Fauro Project (located on Fauro Island), the Florida licence, and the Kuma license on Guadalcanal.

In July 2012, SolGold and Cornerstone Capital Resources Inc. announced that they had signed a definitive option agreement whereby SolGold may acquire up to 85% of Cornerstone's 100% owned subsidiary which owns 100% of the 5,000 hectare Cascabel copper-gold property in northern Ecuador.

The Cascabel project is located approximately 120 km north of Ecuador's capital, Quito, 20 km south of the Colombian border, and 75 km inland from the coastal city of San Lorenzo.  The copper - gold porphyry project is located within the Andean western cordillera, host to numerous tier 1 world class copper-gold deposits through Chile, Peru, Ecuador and Colombia.

At the Rannes project SolGold has announced indicated and inferred resources of 18.7 million tonnes at 0.9 g/t gold equivalent (gold + silver) for 550,146 ounces of gold equivalent (296,657 ounces of gold and 10,137,736 ounces of silver; see announcement dated 23 May 2012 for details of the resource statement and gold equivalent ratios).

Exploration continues at Rannes, Mt. Perry, Normanby and Cracow West.

In the Solomon Islands, a JV partner is being sought for the Fauro project to pursue drilling of gold-copper targets defined in the 2011 exploration program.  The Guadalcanal Joint Venture (GJV) with NVL Solomon Islands Limited (a subsidiary of NYSE-listed Newmont Mining Corporation) has been formally terminated following finalisation of divestment agreements.

SolGold's strategy is to be an integrated gold and copper discoverer, developer and miner.

SolGold's Board includes accomplished professionals with strong track records in the areas of exploration, mine development, investment, finance and law.  Board and Management have significantly vested interests in the Company, holding approximately 15.1% of its issued share capital.

SolGold is based in Brisbane, Queensland, Australia.  The Company listed on London's Alternative Investment Market (AIM) in 2006, under the AIM code 'SOLG' and - following the securities issued and cancelled per the RNS of 15 July 2013 - has a total of 553,354,342 fully-paid ordinary shares, 1,500 Convertible Redeemable Preference Shares, 10,788,000 options exercisable at 50p, 2,750,000 options exercisable at 28p and 1,750,000 options exercisable at 14p on issue.  Further details concerning the Company's key projects and personnel can be found at: www.solgold.com.au

 

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