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Metminco Limited (MNC)

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Tuesday 29 May, 2018

Metminco Limited

Result of AGM

RNS Number : 4430P
Metminco Limited
29 May 2018
 

AIM ANNOUNCEMENT

29 May 2018



 

METMINCO Results of AGM

 

 

Metminco Limited ("Metminco" or the "Company") (ASX: MNC; AIM: MNC) provides the following results from the Company Annual General Meeting ("Meeting") held on 28th May 2018. The Company advises that, members unanimously approved all resolutions set out in the Notice of Meeting on a show of hands at the Annual General Meeting held on 28 May 2018.

In accordance with ASX Listing Rule 3.13.2 and Section 251AA of the Corporations Law, set out below are the total number of proxy votes validly received which were exercisable in respect of each resolution considered at the Meeting and the manner in which those appointments specified that the proxies vote. 

 

Resolution

For

Open at Chairman's discretion

Against

Abstain/Exempt

Remuneration Report

38,923,474

529,938

3,684,157

1,099,553

Re-election - Kevin Wilson

45,117,188

545,669

639,880

26,063

Election - Glenister Lamont

47,731,271

545,669

580,065

23,107

Ratification 15% Placement

36,594,645

545,669

739,798

1,000,000

Approval Placement Options

33,782,077

546,883

3,551,031

1,000,121

Approval Underwriter Options

35,052,639

553,250

6,249,438

1,000,121

Ratification - Lanstead Shares

46,587,036

553,250

635,547

1,104,279

Ratification - Redfield Options

40,980,571

553,250

6,244,648

1,101,643

Approval - Long Term Incentive Plan

40,326,551

1,120,669

3,773,140

1,108,440

Approval Performance Rights - Kevin Wilson

40,984,949

553,250

3,789,853

3,552,060

Approval Options - Roger Higgins

41,958,347

553,250

3,749,853

2,618,662

Approval Options - Glenister Lamont

43,475,025

553,250

3,749,853

1,101,984

 

The Company provides the following additional disclosure relating to the appointment of Mr Glenister Lamont as director of Metminco, effective 28 May 2018:

Mr. Glenister Lamont, aged 61, currently holds or has held the following directorships and partnerships over the last five years:

 

Current directorships and partnerships

Past directorships

Golden Rim Resources Ltd

Lort Smith

Alexcal Pty Ltd

Quantum Graphite Operations Pty Ltd

Logmaor Pty Ltd

Quantum Graphite Limited

Glenrosa Development Pty Ltd

Strategic Energy Resources Limited


Strategic Nickel Pty Ltd

 

Mr. Lamont has the following interests in securities of Metminco at the date of this announcement:

·      1,875,000 fully paid ordinary shares representing an interest of 0.21%

·      625,000 options at with an exercise price of A$0.011 and expiry date 1 June 2020

·      14,400,000 options approved at the Meeting subject to the following conditions and on the following terms:

Tranche 1: 4,800,000 options vesting on Metminco achieving a 30 day Volume Weighted Average Price ("VWAP") of A$0.012 before an expiry date of 31 December 2018 and with an exercise price of A$0.012 per option;

Tranche 2: 4,800,000 options vesting on Metminco achieving a 30 day VWAP of A$0.016 cents before an expiry date of 31 December 2019 and with an exercise price of A$0.016 per option; and

Tranche 3: 4,800,000 options vesting on Metminco achieving a 30 day VWAP of A$0.024 before an expiry date of 31 December 2020 and with an exercise price of A$0.024 per option.   

 

Except as disclosed in this announcement, neither the Company nor Mr. Lamont are aware of any further disclosures that are required in respect of the appointment of Mr. Glenister Lamont under Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.

 

Mr Kevin Wilson has the following interests in securities at the date of this announcement.

·      2,551,312 fully paid ordinary shares representing an interest of 0.28%;

·      850,436 options at with an exercise price of A$0.011 and expiry date 1 June 2020;

·      4,166,667 Underwriter options, from resolution 6 of the AGM, with an exercise price of A$0.011 and expiry date 1 June 2020; and

·      58,000,000 Performance Rights approved at the Meeting with the following conditions:

·     

Tranche 1 - 11,600,000 Performance Rights vesting on Metminco achieving a 30 day VWAP of A$0.012 before December 31, 2018;

Tranche 2 - 11,600,000 Performance Rights vesting on Metminco achieving a 30 day VWAP of A$0.016 before December 31, 2019;

Tranche 3 - 11,600,000 Performance Rights vesting on delivery of a Resource of at least 1 million ounces gold at Tesorito before December 31, 2019;

Tranche 4 - 11,600,000 Performance Rights vesting on Metminco achieving a 30 day VWAP of A$0.024 before December 31, 2020; and

Tranche 5 - 11,600,000 Performance Rights vesting on delivery of a Resource of at least 1 million ounces gold at Chuscal before December 31, 2020.

 

Dr. Roger Higgins has the following interests directly or indirectly in securities of Metminco at the date of this announcement:

·      1,516,678 fully paid ordinary shares representing an interest of 0.17%;

·      417,637 options at with an exercise price of A$0.011 and expiry date 1 June 2020; and

·      14,400,000 options approved at the Meeting subject to the following conditions and on the following terms:

Tranche 1: 4,800,000 options vesting on Metminco achieving a 30 day VWAP of A$0.012 before an expiry date of 31 December 2018 and with an exercise price of A$0.012 per option;

Tranche 2: 4,800,000 options vesting on Metminco achieving a 30 day VWAP of A$0.016 cents before an expiry date of 31 December 2019 and with an exercise price of A$0.016 per option; and

Tranche 3: 4,800,000 options vesting on Metminco achieving a 30 day VWAP of A$0.024 before an expiry date of 31 December 2020 and with an exercise price of A$0.024 per option.

 

The Company also advises that Mr. Francisco Vergara-Irarrazaval has stepped down from the Company's board, effective 28 May 2018, as he did not stand for re-election at the Meeting as previously advised.  The Company thanks Mr. Vergara-Irarrazaval for his contributions. 

Yours faithfully

Geoffrey Widmer

Joint Company Secretary


 

For further information, please contact:

METMINCO LIMITED



Kevin Wilson


Mobile:                +61 (0) 409 942 355

Geoffrey Widmer


Mobile:                +61 (0) 419 301 601

Andrew Metcalfe


Mobile:                +61 (0) 412 125 090




NOMINATED ADVISOR AND BROKER



RFC Ambrian



Australia



Andrew Thomson/Alena Broesder


Office:  +61 (0) 2 9250 0000




United Kingdom



Charlie Cryer


Office:  +44 (0) 20 3440 6800




JOINT BROKER



SP Angel Corporate Finance LLP (UK)



Ewan Leggat


Office:  +44 (0) 20 3470 0470




PUBLIC RELATIONS



Camarco

United Kingdom



Gordon Poole / Nick Hennis


Office:  + 44 (0) 20 3757 4997




 

 


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