Result of AGM

RNS Number : 7403U

Scotgold Resources Ltd

26 November 2019

 

26 November 2019

Scotgold Resources Limited (AIM:SGZ)

("Scotgold" or the "Company")

Results of 2019 Annual General Meeting

The Company confirms that all resolutions put to shareholders at the Annual General Meeting ("AGM") held today, were carried on a show of hands.

The Company received valid proxies representing 71.93% of the total number of shares in the Company with voting rights.

It is noted that following a motion tabled to amend Resolution 3, the amended Resolution was carried unanimously on the following terms:

"That, approval is given for the Company to grant, Mr Richard Gray CEO, 1,000,000 options exercisable at £0.30, vesting on the date of first production of gold with an expiry date of 1 May 2028"

The motion to amend Resolution 3 was proposed to correct the date of expiry of options (previously referred to as "Warrants" in the RNS of 03 May 2019)  with the terms as agreed by the Board and  announced on 03 May 2018, whereby the options were to vest upon the latter of 1 year from the date of award or from first gold production and have an expiry date of 10 years from award.

Resolution	For	% of received	Against	% of received	Open Usable	% of received	Abstain	% of received
1: Re-election of director - Chris Sangster	35,318,299	99.98%	0	0.00%	6,022	0.02%	0	0
2: Election of Director - Ian Proctor	35,317,624	99.98%	675	0.00%	6,022	0.02%	0	0
3: Executive Management Options	35,313,563	99.97%	4,736	0.01%	6,022	0.02%	0	0
4: Management Incentive Share Capacity	35,313,110	99.97%	5,189	0.01%	6,022	0.02%	0	0

For further information please contact:

Scotgold Resources Limited Richard Gray	Tel: [phone]
SP Angel Corporate Finance LLP Nomad and Joint Broker Ewan Leggat / Charlie Bouverat	Tel [phone]
Smaller Company Capital Ltd Joint Broker Rupert Williams	Tel: [phone]
Capital Markets Consultants Financial PR Simon Rothschild	Tel: [phone]

 

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