Results of EGM & Election of Directors

RNS Number : 0174I

MC Mining Limited

11 April 2022

 

ANNOUNCEMENT    11 April 2022

RESULTS OF EXTRAORDINARY GENERAL MEETING & ELECTION OF DIRECTORS

MC Mining Limited (MC Mining or the Company) advises the outcome of resolutions put to shareholders at the Company's Extraordinary General Meeting (Meeting) held today, 11 April 2022.

Results of the Meeting

1. Resolution 1: R emoval of Mr Bernard Pr yor as a Director of the Company

This resolution is no longer relevant and is therefore withdrawn.

2. Resolution 2: R emoval of Mr Sebastiano Randazzo as a Director of the Company

This resolution is no longer relevant and is therefore withdrawn.

3. Resolution 3: Removal of any Director of the Company Appointed after the Date of the Requisition

This resolution is no longer relevant and is therefore withdrawn.

4. Resolution 4: Election of Mr Nhlanhla Nene as a Director

Passed on a poll as an ordinary resolution.

5. Resolution 5: Election of Mr Godfrey Gomwe as a Director

Passed on a poll as an ordinary resolution.

In accordance with Australian Stock Exchange Listing Rule 3.13.2 and Section 251AA(2) of the Corporations Act 2001, the attached information is provided in relation to the resolutions passed by members of the Company at the Meeting and proxies received in respect of each resolution put to shareholders.

Changes to the Board of Directors

Mr Nhlanhla Nene and Mr Godfrey Gomwe were elected as directors of the Company. Mr Andrew Mifflin and Mr Khomotso Mosehla have informed the board that they no longer intend to resign their positions on the board at this stage and there were no other changes to MC Mining's board of directors.

Neither Mr Nene or Mr Gomwe have been subject to the level of due diligence ​ required by the AIM Rules   for Companies and AIM Rules for Nominated Advisers (the AIM Rules), or been approved by Strand Hanson, the Company's Nominated Adviser. Strand Hanson has commenced this process in-line with its requirements under the AIM Rules, including commissioning external third party due diligence reports. Should Strand Hanson determine ​ that either Mr Nene or Mr Gomwe are not suitable to act as directors of the Company, Strand Hanson may be forced to consider its position as nominated adviser to the Company. In the event that Strand Hanson were to resign as nominated adviser, the Company's ordinary shares would be suspended from trading on the AIM Market of the London Stock Exchange and, under the AIM Rules, the Company would then have one month to replace Strand Hanson as nominated adviser, failing which the Company's admission to trading on AIM would be cancelled. A further announcement on the outcome of the director due diligence process will be made in due course.

Nhlanhla Nene - Non-executive Director

Mr Nene holds a B Comm (Hons) UWC, Certificate in Economics (UNISA) and a Certificate in Macro and Microeconomics (University of London). He is a former Minister of Finance of South Africa and previously also served as Deputy Minister of Finance and Chairman of the Public Investment Corporation, the largest institutional investor in South Africa.

During his years in public office he represented South Africa at a number of multilateral institutions, including the International Monetary Fund and World Bank. Prior to this he held senior positions in financial services at Metropolitan Life. He is currently Chairman of the Supervisory Board of Arise BV (Dutch based investment company with a focus on Africa) and a Non-executive Chairman of Thebe Investment Corporation and a director of Access Bank Plc (South Africa). He also served as Interim Director and Head of Wits Business School as well as Honorary Adjunct Professor: Wits Business School.

Godfrey Nene - Non-executive Director

Mr Gomwe is a Chartered Accountant (Zimbabwe), holding a B Acc (UZ) and MBL (UNISA), with over 30 years' experience in the metals and mining industries. He is the former Chief Executive Officer of Anglo American Plc's global thermal coal business which included oversight over the manganese joint venture with BHP. He was Executive Director of Anglo American South Africa until August 2012 and his roles included Head of Group Business Development: Africa, Finance Director and Chief Operating Officer of Anglo American South Africa. Mr Gomwe also served as the Executive Chairman and Chief Executive of Anglo American Zimbabwe Limited as well as a number of Anglo American operating boards and executive committees including Kumba Iron Ore, Anglo American Platinum, Highveld Steel and Vanadium and Mondi South Africa. Prior to joining Anglo American in 1999, Godfrey held many Leadership positions and directorships in listed and unlisted companies.

AUTHORISED BY:

Tony Bevan

Company Secretary

This announcement has been approved by the Company's Disclosure Committee .

ASX: MCM / AIM: MCM.L / JSE: MCZ

For more information contact:
Tony Bevan	Company Secretary	Endeavour Corporate Services	[phone]
Company advisors:
James Harris / James Dance	Nominated Adviser	Strand Hanson Limited	[phone]
Rory Scott	Broker (AIM)	Tennyson Securities	[phone]
James Duncan	Financial PR (South Africa)	R&A Strategic Communications	[phone]
Investec Bank Limited is the nominated JSE Sponsor

About MC Mining Limited

MC Mining is an AIM/ASX/JSE-listed coal exploration, development and mining company operating in South Africa. MC Mining's key projects include the Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard coking coal). Vele Colliery (semi-soft coking and thermal coal), and the Greater Soutpansberg Projects (coking and thermal coal).

EXTRAORDINARY GENERAL MEETING - Monday 11^th April 2022

RESULTS OF MEETING

The following information is provided in accordance with section 251AA(2) of the Corporations Act 2001 (Cth) and ASX Listing Rule 3.13.2

Resolution details		Instructions given to validly appointed proxies (as at proxy close)				Number of votes cast on the poll (where applicable)			Resolution Result
Resolution	Resolution Type	For	Against	Proxy Discretion	Abstain	For	Against	Abstain	Carried/ Not Carried
Resolution 1 : Removal of Mr Bernard Pryor as a Director	Ordinary	N/A	N/A	N/A	N/A	N/A	N/A	N/A	Withdrawn
Resolution 2 : Removal of Mr Sam Randazzo as a Director	Ordinary	N/A	N/A	N/A	N/A	N/A	N/A	N/A	Withdrawn
Resolution 3 : Removal of any Director of the Company appointed after the date of the Requisition	Ordinary	N/A	N/A	N/A	N/A	N/A	N/A	N/A	Withdrawn
Resolution 4 : Election of Mr N Nene as a Director	Ordinary	82,862,607 61.56%	52,356,940 38.44%	135 0.00%	747,214	82,862,742 61.56%	52,356,940 38.44%	747,214	Carried
Resolution 5 : Election of Mr Godfrey Gomwe as a Director	Ordinary	122,206,268 89.71%	14,012,781 10.29%	135 0.00%	747,714	122,206,403 89.71%	14,012,781 10.29%	747,714	Carried

NB. Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.

 

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