REG - Hochschild MiningPLC - AGM Update

Hochschild MiningAnnouncement

26/11/2021 11:25

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211126:nRSZ7527Ta&default-theme=true

RNS Number : 7527T  Hochschild Mining PLC  26 November 2021

 

 

 

 

_____________________________________________________________________________________

 

26 November 2021

Update statement on AGM voting results

 

In accordance with the UK Corporate Governance Code, Hochschild Mining PLC
(the "Company") provides an update with regards to the level of votes cast at
the AGM against Resolution 2 (the approval of the 2020 Directors' Remuneration
Report) and Resolution 11 (the re-election of Dionisio Romero Paoletti as a
Non-Executive Director).

 

2020 Directors' Remuneration Report ("DRR")

The voting on the 2020 DRR reflected investors' concerns on the partial
restatement of annual bonus objectives during the year which was considered
necessary by the Remuneration Committee in light of the level of operational
disruption caused by the Covid pandemic.

 

Despite the extraordinary circumstances prompting the restatement, the
Committee welcomes investors' views on any aspect of executive remuneration at
Hochschild Mining and has therefore initiated an open engagement programme
with significant shareholders and leading proxy agencies. The Committee has
received feedback from a number of investors under this programme which will
continue into 2022.

 

Re-election of Dionisio Romero Paoletti

As in previous years, the voting on Mr Romero's re-election reflected
investors' concerns with regards to his availability and commitment to the
Company in light of the number of other directorships that he holds.

 

The Board has received reassurances of Mr Romero's ongoing availability and
commitment to the Company noting that he retired from the board of Lima-listed
Banco de Credito del Peru in April 2021 and that he recently stepped down from
the board of Ransa Comercial S.A..  Taking this into account and the fact
that Mr Romero acts as a nominee director of the Company's largest
shareholder under a Relationship Agreement, the Directors have concluded that
the Company continues to benefit from Mr Romero's business experience in Latin
America and also of his knowledge of corporate finance.

________________________________________________________________________________________

 

Enquiries:

 

Hochschild Mining PLC

Raj Bhasin
 
 
                                           +44 (0)20
3709 3263

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) and crosstrades on the OTCQX Best
Market in the U.S. (HCHDF), 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

 

 

- ends -

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUNUARARUAUAA