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Centamin PLC Announces Results of the 2019 Annual General Meeting

PERTH, AUSTRALIA / ACCESSWIRE / April 8, 2019 / Centamin plc ("Centamin" or "the Company") (LSE: CEY, TSX: CEE) wishes to advise the results of the Annual General Meeting ("AGM") held at the Royal Yacht, Weighbridge, St Helier, Jersey, on Monday, 8 April 2019 at 10.00 (UK time). The results of each of the resolutions are set out below.

The Company's issued share capital eligible to be voted at the AGM on 8 April 2019 was 1,154,722,984 ordinary shares and approximately 69% of the Company's issued share capital were voted at the AGM.

VOTES
FOR

%

VOTES
AGAINST

%

VOTES
WITHHELD(1)

Ordinary Resolution 1

Annual accounts, strategic and governance report and auditor's report

795,649,978

99.71

2,286,457

0.29

7,023,734

Ordinary Resolution 2

Declaration of a final dividend

797,237,853

99.73

2,133,599

0.27

2,511,314

Ordinary Resolution 3.1

Approval of the Directors' Remuneration Report

529,996,129

66.31

269,318,181

33.69

2,568,087

Ordinary Resolution 3.2

Approval of the Directors' Remuneration Policy

788,094,546

98.60

11,189,768

1.40

2,598,083

Ordinary Resolution 3.3

Approval of amendment to the rules of the Performance Share Plan

790,711,624

98.94

8,484,123

1.06

2,686,650

Ordinary Resolution 4

Approval of increase in fees payable to Non-Executive Directors

787,807,289

98.56

11,478,235

1.44

2,594,731

Ordinary Resolution 5.1

Re-election of Mr Josef El-Raghy

769,045,932

96.21

30,284,019

3.79

2,552,446

Ordinary Resolution 5.2

Re-election of Mr Andrew Pardey

795,118,440

99.47

4,208,512

0.53

2,555,446

Ordinary Resolution 5.3

Re-election of Mr Ross Jerrard

791,372,572

99.02

7,852,680

0.98

2,657,146

Ordinary Resolution 5.4

Re-election of Mr Gordon Edward Haslam

743,201,594

92.99

56,023,302

7.01

2,657,146

Ordinary Resolution 5.5

Re-election of Mrs Alison Baker

796,282,502

99.63

2,930,483

0.37

2,669,413

Ordinary Resolution 5.6

Election of Dr Ibrahim Fawzy

795,185,006

99.48

4,131,446

0.52

2,565,946

Ordinary Resolution 5.7

Re-election of Mr Mark Arnesen

787,188,325

98.50

12,012,659

1.50

2,681,413

Ordinary Resolution 5.8

Re-election of Mr Mark Bankes

793,393,194

99.27

5,806,258

0.73

2,682,946

Ordinary Resolution 6.1

Appointment of PricewaterhouseCoopers LLP (Auditor)

801,015,011

99.98

170,856

0.02

3,774,303

Ordinary Resolution 6.2

Authorise the directors to agree the auditor's remuneration

802,080,130

99.96

310,500

0.04

2,569,540

Ordinary Resolution 7

Authority to allot relevant securities

771,923,381

96.21

30,417,493

3.79

2,619,293

Special Resolution 8.1

Disapplication of pre-emption rights

785,256,335

98.26

13,911,502

1.74

2,714,561

Special Resolution 8.2

Further disapplication of pre-emption rights

779,325,374

97.51

19,935,997

2.49

2,621,026

Special Resolution 9

Market purchase of ordinary shares

793,836,371

99.33

5,348,499

0.67

2,697,527

(1) A "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes 'For' and 'Against' the resolution.

A copy of the results of the AGM, along with a copy of resolutions passed other than those concerning ordinary business at the AGM, have been submitted to the National Storage Mechanism at http://www.morningstar.co.uk/uk/NSM. The scrutineers of the poll were Computershare Investor Services (Jersey) Limited. The full text of each of the resolutions is set out in the Notice of AGM, a copy of which is available on the Centamin website at www.centamin.com.

Disclosure under the 2018 UK Corporate Governance Code

The Board are pleased that all resolutions at the meeting were passed but notes that a significant minority of shareholders (more than 20%) voted against Resolution 3.1, the approval of last year's Directors' Remuneration Report. The Remuneration Committee understands that whilst a clear majority of shareholders were supportive of the report, some investors were concerned with an element of the 2018 annual bonus plan. The Remuneration Committee believes that this issue has been addressed as part of the Remuneration Policy review process (and so will not feature in the annual bonus plan going forward, resulting in no further action being required), with the Board welcoming the support from shareholders for Resolution 3.2 (98.60%) (the approval of the new Directors' Remuneration Policy) and for Resolution 3.3 (98.94%) (the amendments to the Performance Share Plan).

Josef El-Raghy, Chairman commented:

"Since the 2018 AGM, the Board has engaged extensively with major shareholders and proxy advisers and we would like to thank them for their valued feedback and look forward to continuing with this constructive engagement.

Generating tangible value and returns for our stakeholders remains paramount to our decision making as we mark our 10th year of commercial production from the Sukari Gold Mine. We remain committed to delivering operational improvements, whilst advancing future growth prospects across our highly prospective 4,400km2 Group landholding, host to our 15.7Moz Group gold resource base."

For more information, please contact:

Centamin plc
Andrew Pardey, Chief Executive Officer
Alexandra Carse, Investor Relations
+44 (0) 7700 713 738
alexandra.carse@centamin.je

Buchanan
Bobby Morse
Chris Judd
+ 44 (0) 20 7466 5000
centamin@buchanan.uk.com

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 or visit www.rns.com.

SOURCE: Centamin PLC



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