Results of the Annual General Meeting

RNS Number : 5417E
Adriatic Metals PLC
06 November 2020
 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

RESULT OF ANNUAL GENERAL MEETING

Adriatic Metals plc today held its Annual General Meeting ("AGM") at Regent House, 65 Rodney Road, Cheltenham GL50 1HX at 11.00am.

 

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:

No.

Resolution

Votes FOR (a)

%

Votes AGAINST

%

Votes WITHHELD (b)


ORDINARY RESOLUTIONS

 






1

Receive 2020 Annual Report and Accounts

87,689,729

100%

0

0%

6,253

2

Approve Directors' Remuneration Policy

86,044,833

97.04%

1,642,346

1.87%

8,403

3

Approve Annual Report on Remuneration

86,036,363

98.13%

1,641,216

1.87%

18,403

4

Re-elect Julian Barnes as a Director

87,429,217

99.7%

259,312

0.30%

7,453

5

Elect Sandra Bates as a Director

87,159,046

99.41%

518,200

0.59%

18,736

6

Elect Sanela Karic as a Director

87,607,958

99.91%

79,288

0.09%

8,736

7

Re-appoint BDO LLP as Auditor

87,688,729

100%

0

0%

7,253

8

Authorise Audit & Risk Committee to approve Auditor remuneration

 

87,633,896

99.99%

400

0%

61,686

9

Approve, for the purpose of ASX Listing Rule 10.14 and for all other purposes, the issue of 1m unlisted Options to Sanela Karic (or her nominee)

 

86,037,852

98.4%

1,399,394

1.6%

258,736

10

Approve increase from AUD400,000 to GBP400,000 in the maximum aggregate annual amount of fees payable to the Non-Executive Directors

 

60,933,505

99%

612,225

0.99%

8,549,120

11

Authorise Directors to allot shares under s551 Companies Act 2006

 

87,367,482

99.68%

284,338

0.32%

44,162


SPECIAL RESOLUTIONS

 






12

Authority to disapply pre-emption rights on allotment of shares

 

85,224,118

97.24%

2,423,200

2.76%

48,664

13

Authority to purchase own shares

87,473,048

99.78%

191,530

0.22%

31,404

14

Authority to call General Meetings by notice of not less than 14 days

 

87,620,966

99.92%

66,338

0.08%

8,678

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 4 November 2020, the deadline for casting votes by proxy in advance of the AGM, was 201,496,519   shares. 43.77% 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 www.adriaticmetals.com  

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
info@adriaticmetals.com

 

** 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 / Emma Chetwynd Stapylton

Tel: +44 (0) 203 950 9138



Tavistock Communications Limited


Charles Vivian

Tel: +44 (0) 7977 297903

Edward Lee

Tel:  +44 (0) 7736 220565

Gareth Tredway

Tel: +44 (0) 7785 974264



The Capital Network


Julia Maguire/Lelde Smits

Tel: +61 2 8999 3699

 

ABOUT ADRIATIC METALS

Adriatic Metals Plc (ASX:ADT, LSE:ADT1) is a precious and base metals explorer and developer that owns the world-class Vares Silver Project in Bosnia & Herzegovina and holds licences across the Raska District in Serbia.

The Vares project's captivating economics and impressive resource inventory have attracted Adriatic's highly experienced team, which is expediting exploration efforts to expand the current JORC resource. Results of a recent pre-feasibility study announced on 15 October 2020 indicate a post-tax NPV8% of US$1,040 million and IRR of 113%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production with significant cornerstone investment of US$28 million from Queen's Road Capital Investment and EBRD.

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. There have been no material changes to the assumptions and technical parameters on the updated Mineral Resource Estimate announced on 1 September 2020 and these assumptions continue to apply.

Adriatic Metals acquired TSX-listed Tethyan Resource Corp in 2020, to advance the former Kizevak and Sastavci polymetallic mines in the Raska District, southern Serbia.

 

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