TIDMFXPO
RNS Number : 7797Y
Ferrexpo PLC
19 May 2016
FERREXPO plc
("Ferrexpo" or the "Group")
Results of AGM
The results of voting at Ferrexpo's annual general meeting held
today, 19 May 2016, are summarised below. All Resolutions were
voted by way of a poll.
Five of the Independent Directors, being Oliver Baring, Wolfram
Kuoni, Ihor Mitiukov, Bert Nacken and Mary Reilly, did not receive
the requisite votes required for re-appointment by independent
shareholders.
As stated in the Company's AGM Notice and under Listing Rule
9.2.2.F, if a resolution to re-elect an Independent Director is not
passed by both a majority of the independent shareholders (i.e.
shareholders of the Company who are entitled to vote on the
election of Directors and who are not controlling shareholders) and
a majority of all shareholders (including the majority
shareholder), the Company may put the matter to a second vote of
all shareholders to be held between 90 and 120 days after the
Annual General Meeting. Pending the second vote, the relevant
Director or Directors will be deemed to have been re-elected to the
Board of Ferrexpo for the period from the date of the Annual
General Meeting until the earlier of (a) the conclusion of any
second vote, (b) the date 120 days after the Annual General Meeting
and (c) the date of any announcement by the Board that it does not
intend to hold a second vote. If the independent Director's
re-election is approved by a majority vote of all shareholders at
the second general meeting, the Director will then be re-elected
until the next Annual General Meeting. (For clarification, the
Chairman is not subject to this requirement.)
The Board currently intends, once it has consulted shareholders,
to hold a second vote for the re-appointment of Mary Reilly and
Bert Nacken, who were appointed to the Board in May 2015 and August
2014 respectively, and to vote for the re-appointment of Oliver
Baring, Wolfram Kuoni and Ihor Mitiukov if successors have not yet
been found for them by that time. This is in line with the ongoing
Board succession programme as stated on page 18 of the 2015 Annual
Report which proposes to replace directors after the ninth
anniversary of their original appointment as they will no longer be
regarded as independent. Further announcements will be made in due
course.
For/Discretion Against Total Votes
votes withheld(1)
cast
------------------------ ------------------------------------- ----------------------- ------------ -------------
Resolution No. of votes % of No. % No. of No.
votes of votes of votes of votes
cast(2) votes
cast(2)
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
1. To receive
the 2015 Report
and Accounts 341,247,864 70.81 140,683,077 29.19 481,930,941 1,463,280
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
2. To approve
the Remuneration
Report (apart
from the remuneration
policy) 341,161,235 70.81 140,663,995 29.19 481,825,230 1,568,991
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
3. To re-appoint
Ernst & Young
LLP as auditors 341,220,385 99.90 354,504 0.10 341,574,889 141,819,332
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
4. To authorise
the Audit
Committee
to determine
the auditors
remuneration 341,304,368 99.90 341,024 0.10 341,645,392 141,748,829
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
5. To elect
Mary Reilly
as a director All 341,600,308 70.84 140,601,119 29.16 482,201,427 1,192,794
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
Independent 45,522,364 24.46 140,601,119 75.54 186,123,483 1,192,794
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
6. To elect
Sir Malcolm
Field as a
director All 482,155,843 99.99 43,584 0.01 482,199,427 1,194,794
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
Independent 186,077,899 99.98 43,584 0.02 186,121,483 1,194,794
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
7. To elect
Stephen Lucas
as a director All 482,150,284 99.99 49,143 0.01 482,199,427 1,194,794
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
Independent 186,072,340 99.97 49,143 0.03 186,121,483 1,194,794
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
8. To re-elect
Michael Abrahams
as a director 341,497,729 70.82 140,704,098 29.18 482,201,827 1,192,394
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
9. To re-elect
Oliver Baring
as a director All 341,595,360 70.84 140,606,467 29.16 482,201,827 1,192,394
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
Independent 45,517,416 24.46 140,606,467 75.54 186,123,883 1,192,394
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
10. To re-elect
Wolfram Kuoni
as a director All 341,608,893 70.84 140,592,934 29.16 482,201,827 1,192,394
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
Independent 45,530,949 24.46 140,592,934 75.54 186,123,883 1,192,394
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
11. To re-elect
Christopher
Mawe as a
director 341,603,834 70.84 140,597,993 29.16 482,201,827 1,192,394
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
12. To re-elect
Ihor Mitiukov
as a director All 341,608,893 70.84 140,592,934 29.16 482,201,827 1,192,394
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
Independent 45,530,949 24.46 140,592,934 75.54 186,123,883 1,192,394
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
13. To re-elect
Bert Nacken
as a director All 341,609,393 70.84 140,592,434 29.16 482,201,827 1,192,394
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
Independent 45,531,449 24.46 140,592,434 75.54 186,123,883 1,192,394
------------------------ ------------ ------------ --------- ------------ --------- ------------ -------------
14. To re-elect
Kostyantin
Zhevago as
a director 341,603,334 70.84 140,598,493 29.16 482,201,827 1,192,394
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
15. To authorise
the directors
to allot shares 481,980,396 99.71 1,388,825 0.29 483,369,221 25,000
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
16. To empower
the directors
to disapply
pre-emption
rights 482,148,998 99.75 1,219,823 0.25 483,368,821 25,400
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
17. To authorise
the Company
to make market
purchases
of its own
shares 482,102,447 99.98 74,380 0.02 482,176,827 1,217,394
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
18. To approve
a 14 clear
days' notice
period for
a general
meeting other
than an AGM 477,832,303 98.85 5,536,918 1.15 483,369,221 25,000
------------------------ -------------------------- --------- ------------ --------- ------------ -------------
1. A vote withheld is not a vote in law and is not counted in
the calculation of votes validly cast for or against a
resolution
2. Excluding votes withheld
The Board of Ferrexpo notes that there were a significant
proportion of votes cast against a number of resolutions at the
AGM. The Board will continue to engage with shareholders to better
understand the reasons behind the vote result, and the Chairman
welcomes the opportunity to discuss the outcome of the votes with
any shareholder who wishes to do so.
As at the date of the AGM, the Company's issued share capital
(excluding treasury shares) consisted of 588,624,142 Ordinary
Shares carrying one vote each. Therefore, the total number of
voting rights as at the date of the AGM was 588,624,142.
In accordance with Listing Rule 9.6.2, Ferrexpo plc has
submitted a copy of the resolutions dealing with the special
business put to shareholders at the AGM today to the National
Storage Mechanism, which will shortly be available for inspection
at www.Hemscott.com/nsm.do.
For further information contact:
Investor relations:
Ingrid McMahon +44 203 705 5458
Press:
Neil Bennett / James
Isola +44 207 379 5151
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine and transport and sales operations throughout the world.
It has been mining and processing high quality iron ore pellets for
the global steel industry for over 35 years. Ferrexpo's resource
base is one of the largest iron ore deposits in the world. The
Group is currently the 3rd largest supplier of pellets to the
global steel industry and the largest producer and exporter of
pellets from the Former Soviet Union. In 2015, it produced 11.7
million tonnes of pellets, a 6% increase compared to 2014 and a
record for the Company. Ferrexpo has a diversified customer base
supplying steel mills in Austria, Germany, Japan, South Korea,
China as well as other European and Asian countries. Ferrexpo is
listed on the main market of the London Stock Exchange under the
ticker FXPO. For further information, please visit
www.ferrexpo.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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