Company Announcements

Result of AGM

Source: RNS
RNS Number : 0888A
Hochschild Mining PLC
27 May 2021
 

 

 

__________________________________________________________________________________________  

27 May 2021

Result of AGM

Hochschild Mining PLC (the "Company") announces the results detailed below of the poll taken at the Annual General Meeting (the "AGM") held earlier this afternoon at which all proposed resolutions were passed.

 

The Board notes the level of votes against Resolution 2 (approval of the 2020 Directors' Remuneration Report) and Resolution 11 (the re-election of Dionisio Romero Paoletti).

 

Approval of 2020 Directors' Remuneration Report

The Directors appreciate the support received for the Remuneration Report in an extremely difficult year.

 

The Company recognises that the partial restatement of annual bonus objectives during the year is not usual practice but was considered necessary by the Remuneration Committee (the "Committee").  This was in light of the significant disruption suffered at the operations, primarily resulting from Covid-related suspensions which were mandated by governmental authorities.  Furthermore, the Committee felt that the level of bonus should reflect management's excellent performance in responding to the unprecedented challenges posed by the pandemic.  A detailed explanation of the reasoning for the adjustments has been provided in the 2020 Annual Report and Accounts and through personal engagement with the Company's major shareholders.

 

Re-election of Dionisio Romero Paoletti

With regards to Resolution 11, the Board notes shareholders' continued concerns in connection with Mr Romero's availability in light of the number of publicly-listed boards of which he is a member.  The Board has considered the matter, noting that Mr Romero serves on the Hochschild Board as a nominee director of the Company's major shareholder, Pelham Investment Corporation, which is ultimately controlled by Eduardo Hochschild. 

 

Mr Romero has continued to reassure the Board of his availability and commitment to the Company.

 

The Company values open and transparent dialogue with all stakeholders and will continue to engage with its shareholders to ensure their views on the above matters and, in general, are known and understood.  An update will be provided, as required by the UK Corporate Governance Code, within six months of the AGM.

 

Copies of Articles of Association & Resolutions

Copies of the new Articles of Association and resolutions passed as Special Business at the Annual General Meeting are being submitted to the UK Listing Authority and will shortly be available for inspection at the National Storage Mechanism at:  https://data.fca.org.uk/#/nsm/nationalstoragemechanism

 

Note

The number of Ordinary Shares in issue on 25 May 2021 at 6pm was 513,875,563. Shareholders are entitled to one vote per share.  A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes cast.

__________________________________________________________________________________________  

Enquiries:

Hochschild Mining PLC

Raj Bhasin                                                                        +44 (0)7825 533495

Company Secretary

 

Hudson Sandler

Charlie Jack                                                                    +44 (0)20 7796 4133

Public Relations

___________________________________________________________________________________________________________

 

About Hochschild Mining PLC

Hochschild Mining PLC is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over fifty years' experience in the mining of precious metal epithermal vein deposits and currently operates three underground epithermal vein mines, two located in southern Peru and one in southern Argentina. Hochschild also has numerous long-term projects throughout the Americas.

 

LEI: 549300JK10TVQ3CCJQ89

 

Resolution

("O" denotes Ordinary Resolution, "S" denotes Special Resolution)

 

VOTES FOR

 

% OF VOTES CAST1

 

VOTES AGAINST

 

% OF VOTES CAST1

 

TOTAL VOTES

 

VOTES WITHHELD

1

Receipt of 2020 Report and Accounts (O)

 

416,621,275

 

99.44%

 

2,327,284

 

0.56%

 

418,948,559

 

1,124,015

2

Approve 2020 Directors' Remuneration Report (O)

 

282,820,516

 

67.47%

 

136,328,236

 

32.53%

 

419,148,752

 

923,822

3

Approve the Directors' Remuneration Policy (O)

 

359,539,286

 

85.60%

 

60,498,907

 

14.40%

 

420,038,193

 

34,381

4

Approve the final dividend (O)

 

420,045,646

 

99.99%

 

3,202

 

0.01%

 

420,048,848

 

23,726

5

Re-elect Graham Birch (O)

 

418,545,391

 

99.85%

 

631,300

 

0.15%

 

419,176,691

 

895,883

 

Votes of the independent shareholders2

 

221,645,085

 

99.72%

 

631,300

 

0.28%

 

222,276,385

 

895,883

6

Re-elect Jorge Born Jr. (O)

 

415,723,097

 

98.98%

 

4,290,011

 

1.02%

 

420,013,108

 

59,466

 

Votes of the independent shareholders2

 

218,822,791

 

98.08%

 

4,290,011

 

1.92%

 

223,112,802

 

59,466

7

Re-elect Ignacio Bustamante (O)

 

404,291,184

 

99.96%

 

151,968

 

0.04%

 

404,443,152

 

15,629,422

8

Elect Jill Gardiner (O)

 

418,650,207

 

99.67%

 

1,392,902

 

0.33%

 

420,043,109

 

29,465

 

Votes of the independent shareholders2

 

221,749,901

 

99.38%

 

1,392,902

 

0.62%

 

223,142,803

 

29,465

9

Re-elect Eduardo Hochschild (O)

 

343,389,223

 

84.90%

 

61,085,929

 

15.10%

 

404,475,152

 

15,597,422

10

Re-elect Eileen Kamerick (O)

 

396,790,854

 

94.46%

 

23,252,255

 

5.54%

 

420,043,109

 

29,465

 

Votes of the independent shareholders2

 

199,890,548

 

89.58%

 

23,252,255

 

10.42%

 

223,142,803

 

29,465

11

Re-elect Dionisio Romero Paoletti (O)

 

246,736,444

 

61.06%

 

157,365,608

 

38.94%

 

404,102,052

 

15,970,522

12

Re-elect Michael Rawlinson (O)

 

385,429,732

 

91.76%

 

34,613,376

 

8.24%

 

420,043,108

 

29,466

 

Votes of the independent shareholders2

 

188,529,426

 

84.49%

 

34,613,376

 

15.51%

 

223,142,802

 

29,466

13

Re-elect Sanjay Sarma (O)

 

419,541,770

 

99.88%

 

501,339

 

0.12%

 

420,043,109

 

29,465

 

Votes of the independent shareholders2

 

222,641,464

 

99.78%

 

501,339

 

0.22%

 

223,142,803

 

29,465

14

Re-appoint Ernst & Young LLP as auditors (O)

 

403,588,361

 

96.08%

 

16,457,747

 

3.92%

 

420,046,108

 

26,466

15

Authorise the Audit Committee to set the auditors' remuneration (O)

 

420,043,659

 

99.99%

 

3,552

 

0.01%

 

420,047,211

 

25,363

Authorise directors to allot shares/grant rights to subscribe for or to convert any securities into shares (O)

 

416,128,643

 

99.07%

 

3,912,190

 

0.93%

 

420,040,833

 

31,741

17

Disapply statutory pre-emption rights (S)

 

414,346,386

 

99.99%

 

34,156

 

0.01%

 

414,380,542

 

5,692,032

18

Disapply statutory pre-emption rights to finance an acquisition or other capital investment (S)

 

418,249,565

 

99.58%

 

1,768,243

 

0.42%

 

420,017,808

 

54,766

19

Authorise the Company to make market purchases of own shares (S)

 

418,621,104

 

99.68%

 

1,326,903

 

0.32%

 

419,948,007

 

124,567

20

Adopt new Articles of Association (S)

 

420,049,029

 

99.99%

 

5,202

 

0.01%

 

420,054,231

 

18,343

21

Authorise general meetings other than AGMs to be called on not less than 14 clear days' notice (S)

 

413,120,756

 

98.35%

 

6,937,555

 

1.65%

 

420,058,311

 

14,263

 

1.     Excludes votes withheld

2.     Under Listing Rule 9.2.2E R, resolutions on the re-election of any independent director must be approved by (a) the shareholders of the Company; and (b) the independent shareholders of the Company (i.e. excluding the 196,900,306 shares owned by Pelham Investment Corporation which is ultimately controlled by Eduardo Hochschild) 

 

 

 

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