RESULT OF ANNUAL GENERAL MEETING
Source: RNS
24 May 2023
Adriatic Metals PLC
("Adriatic" or the "Company")
RESULT OF ANNUAL GENERAL MEETING
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) held its Annual General Meeting ("AGM") at 9.00am BST on 24 May 2023 at the offices of Buchanan Communications, 107 Cheapside, London EC2V 6DN, United Kingdom.
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:
|
|
Resolution |
Votes FOR1 |
% |
Votes AGAINST |
% |
Votes WITHHELD2 |
|
|
ORDINARY RESOLUTIONS |
|
|
|
|
|
|
1 |
Approve the Annual report and Financial Statements and the Auditor's and Directors' reports for the 12 months ended 31 December 2022 |
122,804,230 |
99.99 |
11,100 |
0.01 |
4,551 |
|
2 |
Approve the Directors' Remuneration Policy |
122,729,918 |
99.95 |
64,419 |
0.05 |
25,544 |
|
3 |
Approve the Directors' Remuneration Report |
122,738,399 |
99.95 |
55,938 |
0.05 |
25,544 |
|
4 |
Re-elect Julian Barnes as a Director |
119,857,876 |
97.61 |
2,938,362 |
2.39 |
23,643 |
|
5 |
Re-elect Sanela Karic as a Director |
121,590,622 |
99.02 |
1,205,616 |
0.98 |
23,643 |
|
6 |
Re-appoint BDO LLP as Auditor
|
122,778,791 |
99.98 |
24,000 |
0.02 |
17,090 |
|
7 |
Authorise the Audit & Risk Committee to determine remuneration of the Auditor |
122,785,324 |
99.99 |
17,481 |
0.01 |
17,076 |
|
8 |
Approve the increase in the maximum total aggregate amount of fees that may be paid to Non-Executive Directors |
102,489,216 |
92.57 |
8,227,278 |
7.43 |
11,777,171 |
|
9 |
Authorise Directors to allot shares under s551 Companies Act 2006 |
121,530,512 |
98.96 |
1,279,304 |
1.04 |
10,065 |
|
10 |
Approve for the purposes of ASX Listing Rule 10.14, the issue of up to 142,778 Performance Rights to Paul Cronin (or his nominees) under the ESOP |
101,362,274 |
83.38 |
20,197,957 |
16.61 |
1,259,650 |
|
11 |
Approve for the purposes of ASX Listing Rule 10.14, the issue of up to 434,272 Performance Rights to Paul Cronin (or his nominees) under the ESOP |
121,491,516 |
99.94 |
68,715 |
0.06 |
1,259,650 |
|
|
SPECIAL RESOLUTIONS |
|
|
|
|
|
|
12 |
Authority to disapply pre-emption rights on allotment of shares |
121,502,020 |
98.98 |
1,250,986 |
1.02 |
66,875 |
|
13 |
Authority to disapply pre-emption rights on allotment of shares |
121,501,221 |
98.98 |
1,250,785 |
1.02 |
67,875 |
|
14 |
Notice period for General Meetings other than Annual General Meetings |
120,966,271 |
98.54 |
1,789,735 |
1.46 |
63,875 |
1. The "For" proxy vote includes those giving the Chairman discretion.
2. 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 22 May 2023, the deadline for casting votes by proxy in advance of the AGM, was 277,876,787 shares. 44.20% 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 https://www.adriaticmetals.com/2023-agm/
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
** 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.
Authorised by Paul Cronin, Managing Director & CEO
For further information please visit https://www.adriaticmetals.com, @AdriaticMetals on Twitter, or contact:
|
Adriatic Metals PLC |
|
|
Paul Cronin / Klara Kaczmarek |
Via Buchanan |
|
|
|
|
Buchanan |
Tel: +44 (0) 20 7466 5000 |
|
Bobby Morse/ Oonagh Reidy |
|
|
Canaccord Genuity Limited (Joint Corporate Broker) |
|
|
Jeremy Dunlop (Australia) |
Tel: +61 2 9263 2700 |
|
James Asensio (UK) |
Tel: +44 (0) 207 523 8000 |
|
|
|
|
RBC Capital Markets (Joint Corporate Broker) |
|
|
James Agnew / Jamil Miah |
Tel: +44 (0) 20 7653 4000 |
|
|
|
|
Stifel Nicolaus Europe Limited (Joint Corporate Broker) |
|
|
Ashton Clanfield / Callum Stewart |
Tel: +44 (0) 20 7710 7600 |
|
|
|
|
Citadel Magnus |
|
|
Cameron Gilenko |
Tel: +618 6160 4900 |
|
|
|
ABOUT ADRIATIC METALS
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that is advancing the world-class Vares Project in Bosnia & Herzegovina, as well as the Raska Project in Serbia.
The Vares Project is fully-funded to production, which is expected in Q4 2023. The 2021 Project Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. Concurrent with ongoing construction activities, the Company continues to explore across its highly prospective 42km2 concession package.
There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 19 August 2021 DFS announcement and these assumptions continue to apply and have not materially changed. Adriatic Metals is not aware of any new information or data that materially affects the information included in the announcement of the updated Mineral Resource Estimate announced on 1 September 2020 and all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.
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