MONTRÉAL, Aug. 28,
2024 /CNW/ - (Sydney, August
29, 2024) - Champion Iron Limited (TSX: CIA) (ASX: CIA)
(OTCQX: CIAFF) ("Champion" or the "Company") announces that at the
Annual General Meeting of the Company's shareholders (the
"Meeting"), held in person on Wednesday, August 28, 2024,
at 5:00 PM (Montréal time) / Thursday, August 29, 2024, at 7:00 AM (Sydney
time), all resolutions received the requisite majorities, by a vote
by poll as set out below. The number of votes cast against
Resolution 1 however, constitutes a "second strike" under
Australian law. Resolution 2 (Conditional Spill Resolution) was not
carried, as recommended by the board of directors.
|
Resolution
|
Votes
For
|
Votes
Against
|
Votes
Abstain/Exclude
|
|
1. Approval of the
Remuneration
Report
|
257,995,644
(67.87 %)
|
122,160,822
(32.13 %)
|
50,329,309
(1)
|
|
2. Conditional Spill
Resolution
|
1,244,214
(0.33 %)
|
379,117,063
(99.67 %)
|
50,124,498
(1)
|
|
3. Appointment of
Director
– Michael O'Keeffe
|
399,998,619
(93.00 %)
|
30,116,995
(7.00 %)
|
370,161 (2)
|
|
4. Appointment of
Director
– David Cataford
|
428,219,538
(99.56 %)
|
1,896,076
(0.44 %)
|
370,161 (2)
|
|
5. Appointment of
Director
– Gary Lawler
|
377,272,547
(87.71 %)
|
52,843,095
(12.29 %)
|
369,773 (3)
|
|
6. Appointment of
Director
– Michelle Cormier
|
395,608,990
(91.98 %)
|
34,507,012
(8.02 %)
|
369,773 (2)
|
|
7. Appointment of
Director
–Louise Grondin
|
414,089,768
(96.27 %)
|
16,026,234
(3.73 %)
|
369,773 (2)
|
|
8. Appointment of
Director
– Jessica McDonald
|
428,922,452
(99.72 %)
|
1,193,550
(0.28 %)
|
369,773 (2)
|
|
9. Appointment of
Director
– Jyothish George
|
428,998,228
(99.74 %)
|
1,117,774
(0.26 %)
|
369,773 (2)
|
|
10. Appointment of
Director
– Ronnie Beevor
|
417,197,358
(97.00 %)
|
12,893,324
(3.00 %)
|
395,093 (2)
|
|
11. Re-approval of
Omnibus
Incentive Plan
|
306,345,835
(72.66 %)
|
115,295,263
(27.34 %)
|
8,844,677
(4)
|
|
12. Appointment of
additional
auditor of the Company
|
430,202,032
(99.57 %)
|
1,869,182
(0.43 %)
|
364,846
|
|
Notes:
|
(1) Represents votes
held, directly or indirectly, by Champion's Key Management
Personnel ("KMP") (as defined by the Corporations Act 2001 (Cth))
and their closely related parties, whether as a shareholder or as a
proxy, all of which were excluded from voting (other than if they
acted as a proxy casting a directed vote), plus 1,950,285 ordinary
shares of the Company which were not voted. This does not include
votes exercised by the Chair of the Meeting on the basis of an
undirected proxy, where the proxy did not expressly direct the
Chair how to vote on the resolution.
|
|
(2) Represents ordinary
shares of the Company which abstained from voting plus 1,950,285
ordinary shares of the Company which were not voted. This does not
include votes exercised by the Chair of the Meeting on the basis of
an undirected proxy, where the proxy did not expressly direct the
Chair how to vote on the resolution.
|
|
(3) Represents ordinary
shares of the Company which abstained from voting plus 1,950,645
ordinary shares of the Company which were not voted. This does not
include votes exercised by the Chair of the Meeting on the basis of
an undirected proxy, where the proxy did not expressly direct the
Chair how to vote on the resolution.
|
|
(4) Represents votes
held, directly or indirectly, by persons who are eligible to
participate in the Company's employment incentive scheme, being the
Omnibus Incentive Plan or associates of those persons and
Champion's KMPs and their closely related parties, all of which
were excluded from voting (other than if they acted as a proxy
casting a directed vote), plus 1,950,285 ordinary shares of the
Company which were not voted. This does not include votes exercised
by the Chair of the Meeting on the basis of an undirected proxy,
where the proxy did not expressly direct the Chair how to vote on
the resolution.
|
At the Meeting, the total number of ordinary shares of the
Company represented in person or by proxy was 432,436,060
representing approximately 83.47% of the issued and outstanding
ordinary shares of the Company.
A live audio webcast was also available during the meeting and
the webcast recording will be accessible shortly through Champion's
website
at www.championiron.com/investors/events-presentations.
For further details, visit the Company's filings on SEDAR+ at
www.sedarplus.ca.
About Champion Iron Limited
Champion, through its wholly-owned subsidiary Quebec Iron Ore
Inc., owns and operates the Bloom Lake Mining Complex, located on
the south end of the Labrador Trough, approximately 13 km north
of Fermont, Québec. Bloom Lake is an open-pit operation with
two concentrators that primarily source energy from renewable
hydroelectric power. The two concentrators have a combined
nameplate capacity of 15 Mtpa and produce low contaminant
high-grade 66.2% Fe iron ore concentrate with a proven ability to
produce a 67.5% Fe direct reduction quality iron ore concentrate.
Benefiting from one of the highest purity resources globally, the
Company is investing to upgrade half of the Bloom Lake mine
capacity to a direct reduction quality pellet feed iron ore with up
to 69% Fe. Bloom Lake's high-grade and low contaminant iron ore
products have attracted a premium to the Platts IODEX 62% Fe iron
ore benchmark. The Company ships iron ore concentrate from Bloom
Lake by rail, to a ship loading port in Sept-Îles, Québec, and has
delivered its iron ore concentrate globally, including
in China, Japan, the Middle
East, Europe, South
Korea, India and Canada. In addition to Bloom Lake,
Champion owns a portfolio of exploration and development projects
in the Labrador Trough, including the Kamistiatusset Project,
located a few kilometres south-east of Bloom Lake, and the Cluster
II portfolio of properties, located within 60 km south of Bloom
Lake.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain information and statements
that may constitute "forward-looking information" under applicable
securities laws. Forward-looking statements are statements that are
not historical facts and are generally, but not always, identified
by the use of words such as "plans", "expects", "is expected",
"budget", "scheduled", "estimates", "continues", "forecasts",
"projects", "predicts", "intends", "anticipates", "aims", "targets"
or "believes", or variations of, or the negatives of, such words
and phrases, or state that certain actions, events or results
"may", "could", "would", "should", "might" or "will" be taken,
occur or be achieved. Inherent in forward-looking statements are
risks, uncertainties and other factors beyond the Company's ability
to predict or control.
All statements other than statements of historical facts
included in this press release that address future events,
developments or performance that Champion expects to occur are
forward-looking statements.
Although Champion believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such forward-looking statements involve known and unknown risks,
uncertainties and other factors, most of which are beyond the
control of the Company, which may cause the Company's actual
results, performance or achievements to differ materially from
those expressed or implied by such forward-looking statements.
Factors that could cause the actual results to differ materially
from those expressed in forward-looking statements include, without
limitation, those factors discussed in the section entitled "Risk
Factors" of the Company's 2024 Annual Report, Annual Information
Form and Management Discussion and Analysis for the financial year
ended March 31, 2024, which are available on SEDAR+ at
www.sedarplus.ca, the ASX at www.asx.com.au and the Company's
website at www.championiron.com. There can be no assurance that
such information will prove to be accurate as actual results and
future events could differ materially from those anticipated in
such forward-looking information. Accordingly, readers should not
place undue reliance on forward-looking information.
All of Champion's forward-looking information contained in this
press release is given as of the date hereof or such other date or
dates specified in forward-looking statements and is based upon the
opinions and estimates of Champion's management and information
available to management as at the date hereof. Champion disclaims
any intention or obligation to update or revise any of the
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by law.
If the Company does update one or more forward-looking statements,
no inference should be drawn that it will make additional updates
with respect to those or other forward-looking statements. Champion
cautions that the foregoing list of risks and uncertainties is not
exhaustive. Readers should carefully consider the above factors as
well as the uncertainties they represent and the risks they
entail.
All dollar figures stated herein are expressed in Canadian
dollars.
For additional information on Champion Iron Limited, please
visit our website at: www.championiron.com.
This press release has been authorized for release to the market
by the CEO of Champion Iron Limited, David
Cataford.
SOURCE Champion Iron Limited