Results of the Annual General Meeting

RNS Number : 9445I
Centamin PLC
26 March 2018
 

For immediate release


26 March 2018




Centamin plc ("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

 

Results of the Annual General Meeting

 

Centamin wishes to advise the results of the Annual General Meeting ("AGM") held at the Royal Yacht, Weighbridge, St Helier, Jersey, on Monday, 26 March 2018 at 10.00am (UK time).  The results of each of the resolutions are set out below.

 

The Company's issued share capital eligible to be voted at the AGM on 26 March 2018 was 1,152,107,984 ordinary shares. Approximately 69% of the Company's issued share capital were voted at the AGM. 

 

 


VOTES

FOR

%

VOTES

AGAINST

%

VOTES

WITHHELD (1)

Ordinary Resolution 1

Annual accounts, strategic and directors' report and auditor's report

780,578,359

99.35

5,135,115

0.65

5,206,292

Ordinary Resolution 2

Declaration of a final dividend

786,713,783

99.99

7,718

0.001

742,030

Ordinary Resolution 3.1

Approval of the remuneration report

531,913,702

68.09

249,326,064

31.91

6,223,763

Ordinary Resolution 3.2

Approval of the remuneration policy

372,494,622

47.99

403,620,079

52.01

11,347,428

Ordinary Resolution 4

Approval of increase in fees payable to non-executive directors

782,828,143

99.89

883,457

0.11

1,323,813

Ordinary Resolution 5.1

Re-election of Mr Josef El-Raghy

779,323,007

99.11

6,983,511

0.89

1,157,011

Ordinary Resolution 5.2

Re-election of Mr Andrew Pardey

784,212,811

99.69

2,423,104

0.31

827,615

Ordinary Resolution 5.3

Election of Mr Ross Jerrard

779,496,576

99.09

7,139,339

0.91

827,615

Ordinary Resolution 5.4

Re-election of Mr Gordon Edward Haslam

595,669,680

76.23

185,691,837

23.77

6,102,012

Ordinary Resolution 5.5

Election of Mrs Alison Baker

784,047,009

99.67

2,568,906

0.33

847,615

Ordinary Resolution 5.6

Re-election of Mr Mark Arnesen

615,332,486

78.24

171,134,016

21.76

997,027

Ordinary Resolution 5.7

Re-election of Mr Mark Bankes

617,129,920

78.45

169,497,084

21.55

836,527

Ordinary Resolution 6.1

Appointment of PricewaterhouseCoopers LLP (Auditor)

789,656,456

99.95

412,599

0.05

829,142

Ordinary Resolution 6.2

Authorise the directors to agree the auditor's remuneration

789,966,630

99.98

160,240

0.02

792,594

Ordinary Resolution 7

Authority to allot relevant securities

770,781,404

97.56

19,314,800

2.44

823,559

Special Resolution 8.1

Disapplication of pre-emption rights

778,748,464

98.56

11,366,379

1.44

804,921

Special Resolution 8.2

Further disapplication of pre-emption rights

771,645,496

97.66

18,475,591

2.34

798,675

Special Resolution 9

Market purchase of ordinary shares

785,949,741

99.91

744,065

0.09

769,723

(1) A "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes 'For' and 'Against' the resolution.

 

A copy of the results of the AGM, along with a copy of resolutions passed other than those concerning ordinary business at the AGM, have been submitted to the National Storage Mechanism at http://www.morningstar.co.uk/uk/NSMThe scrutineers of the poll were Computershare Investor Services (Jersey) Limited. The full text of each of the resolutions is set out in the Notice of AGM, a copy of which is available on the Centamin website at www.centamin.com.

 

Disclosure under E.2.2 of the Corporate Governance Code (the Code)

 

Resolution 3.2, for the approval of the Remuneration Policy, received 52% of advisory votes against and therefore the resolution has not been passed.

 

It is also noted that there was a significant minority vote (more than 20%) against the Remuneration Report (Resolution 3.1) and the reappointment of Remuneration Committee members, Edward Haslam (Resolution 5.4), Mark Arnesen (Resolution 5.6) and Mark Bankes (Resolution 5.7).

 

The Board of Directors, with the support of the Remuneration Committee, will undertake a full review of the Remuneration Policy in 2018.

 

Andrew Pardey, CEO commented:

"The Company regularly engages with our major shareholders and proxy advisors for their input on, but not limited to, matters of remuneration.  We are disappointed with the results of today's advisory vote against the Remuneration Policy. We will continue to proactively consult with our shareholders and proxy advisors to ensure their feedback is better understood and implemented where appropriate."

 

 

For more information, please contact:

 

Centamin plc

Andrew Pardey, CEO

Alexandra Carse, Investor Relations

+44 (0) 7700 713 738

alexandra.carse@centamin.je

 

Buchanan

Bobby Morse

Chris Judd

+ 44 (0) 20 7466 5000

centamin@buchanan.uk.com

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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