REG - Goldstone Resources - Result of AGM

Goldstone ResourcesAnnouncement

12/08/2025 07:00

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RNS Number : 8888U  Goldstone Resources Ltd  12 August 2025

12 August 2025

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

 

Result of AGM and Meeting Update

 

GoldStone Resources Limited (AIM: GRL), the West African gold producer and
developer, announces that at its Annual General Meeting ("AGM") held
yesterday, all resolutions were duly passed except for Resolution 3, which
related to the re-appointment of Ms Angela List as a director of the Company,
and Resolution 7, to provide the directors with a further general authority to
allot up to an aggregate maximum of 474,594,899 Ordinary Shares.

 

The result of the poll for each resolution are as follows:

 

 Ordinary Resolutions                                                                                     For          %        Against      %       Votes Withheld
                         To receive and adopt the annual financial statements of the Company for the      320,278,467  84.29%   59,676,000   15.71%  2,080,660

                       year ended December 2023 and December 2024 (the "Accounts"), together with the
 Ordinary Resolution 1   reports of the directors and the auditors.
 Ordinary Resolution 2   To ratify and approve the remuneration of the directors as set out in the        380,978,225  99.82%   696,000      0.18%   360,902
                         Accounts.
 Ordinary Resolution 3   To confirm the re-appointment of Ms Angela List as a director of the Company.    72,763,454   19.23%   305,670,660  80.77%  3,601,013
 Ordinary Resolution 4   To confirm the re-appointment of Dr Orrie Fenn as a director of the              427,214,742  95.84%   18,546,300   4.16%   61,930,660

                         Company.
 Ordinary Resolution 5   To confirm the appointment of Mr Campbell Smyth as a director of the Company.    318,207,661  62.71%   189,234,041  37.29%  250,000
                         To appoint Moore Stephens Audit & Assurance (Jersey) Limited as auditors         320,347,467  100.00%  7,000        0.00%   61,680,660

                       of the Company until the conclusion of the annual general meeting of the
 Ordinary Resolution 6   Company to be held in 2026, on terms and

                         conditions (including remuneration) to be agreed by the directors.
                         To provide the directors with a further general authority to allot up to an      319,570,133  62.96%   187,971,569  37.04%  150,000

                       aggregate maximum of 474,594,899 Ordinary Shares, representing approximately
 Special Resolution 7    50 per cent. of the Company's issued ordinary share capital at the date of
                         notice of this Resolution.

 

As resolution 3 did not receive the requisite majority, Ms Angela List has not
been reappointed and has therefore stepped down from the Board with immediate
effect. The remaining Board has, following the AGM, nominated Campbell Smyth
as Interim Non-Executive Chairman of the Company.

 

The Company also notes that, at today's meeting, a former Chairman of the
Company, Bill Trew, disclosed certain confidential information regarding the
Company, in relation to, inter alia, an offer received by the Board in April
2025, which had been unequivocally rejected by the Board for a number of
reasons. The Company has commenced an investigation into how this confidential
information was obtained by Mr Trew.

 

In terms of current trading, the Company confirms that it produced
approximately 213.7 troy ounces in July 2025, a reduced amount due to the
current low grade ore that is being mined at the Homase Mine.

 

The Company notes that it is in ongoing discussions with potential funding
partners and, to the extent needed, will convene a further General Meeting in
due course to allow shareholders to vote on increasing the Board's share
issuance authorities.

 

ENDS

 

For further information, please contact:

 

 GoldStone Resources Limited
 Emma Priestley                     Tel: +44 (0)1534 487 757
 Strand Hanson Limited
 James Dance / James Bellman        Tel: +44 (0)20 7409 3494
 S. P. Angel Corporate Finance LLP
 Ewan Leggat / Charlie Bouverat     Tel: +44 (0)20 3470 0501
 St Brides Partners Ltd
 Susie Geliher / Isabel de Salis    goldstone@stbridespartners.co.uk

 

 

Notes

GoldStone Resources Limited (AIM: GRL) is an established gold producer and
developer focused on Ghana's world-renowned Ashanti Gold Belt. Its flagship
asset, the Akrokeri-Homase project, comprises two historic mines: Homase,
where production is currently being ramped up, and Akrokerri, which produced
75,000 oz at an impressive 24 g/t in the early 1900s. The Company is also
committed to expanding its project pipeline, leveraging its deep in-country
expertise and strong operational presence, while continuing to advance
exploration across its large, highly prospective licence area.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

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