REG - Metminco Limited - Result of AGM

Merino & CoAnnouncement

29/05/2018 07:05

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:
o  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;
o  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
o  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:
·     
o  Tranche 1 - 11,600,000 Performance Rights vesting on Metminco achieving a 30 day VWAP of A$0.012 before December 31, 2018;
o  Tranche 2 - 11,600,000 Performance Rights vesting on Metminco achieving a 30 day VWAP of A$0.016 before December 31, 2019;
o  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;
o  Tranche 4 - 11,600,000 Performance Rights vesting on Metminco achieving a 30 day VWAP of A$0.024 before December 31, 2020; and
o  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:
o  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;
o  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
o  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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