Hochschild Mining PLC AGM Update (7527T)
November 26 2021 - 5:24AM
UK Regulatory
TIDMHOC
RNS Number : 7527T
Hochschild Mining PLC
26 November 2021
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26 November 2021
Update statement on AGM voting results
In accordance with the UK Corporate Governance Code, Hochschild
Mining PLC (the "Company") provides an update with regards to the
level of votes cast at the AGM against Resolution 2 (the approval
of the 2020 Directors' Remuneration Report) and Resolution 11 (the
re-election of Dionisio Romero Paoletti as a Non-Executive
Director).
2020 Directors' Remuneration Report ("DRR")
The voting on the 2020 DRR reflected investors' concerns on the
partial restatement of annual bonus objectives during the year
which was considered necessary by the Remuneration Committee in
light of the level of operational disruption caused by the Covid
pandemic.
Despite the extraordinary circumstances prompting the
restatement, the Committee welcomes investors' views on any aspect
of executive remuneration at Hochschild Mining and has therefore
initiated an open engagement programme with significant
shareholders and leading proxy agencies. The Committee has received
feedback from a number of investors under this programme which will
continue into 2022.
Re-election of Dionisio Romero Paoletti
As in previous years, the voting on Mr Romero's re-election
reflected investors' concerns with regards to his availability and
commitment to the Company in light of the number of other
directorships that he holds.
The Board has received reassurances of Mr Romero's ongoing
availability and commitment to the Company noting that he retired
from the board of Lima-listed Banco de Credito del Peru in April
2021 and that he recently stepped down from the board of Ransa
Comercial S.A.. Taking this into account and the fact that Mr
Romero acts as a nominee director of the Company's largest
shareholder under a Relationship Agreement, the Directors have
concluded that the Company continues to benefit from Mr Romero's
business experience in Latin America and also of his knowledge of
corporate finance.
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Enquiries:
Hochschild Mining PLC
Raj Bhasin
+44 (0)20 3709 3263
Company Secretary
Hudson Sandler
Charlie Jack
+44 (0)20 7796 4133
Public Relations
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About Hochschild Mining PLC
Hochschild Mining PLC is a leading precious metals company
listed on the London Stock Exchange (HOCM.L / HOC LN) and
crosstrades on the OTCQX Best Market in the U.S. (HCHDF), with a
primary focus on the exploration, mining, processing and sale of
silver and gold. Hochschild has over fifty years' experience in the
mining of precious metal epithermal vein deposits and currently
operates three underground epithermal vein mines, two located in
southern Peru and one in southern Argentina. Hochschild also has
numerous long-term projects throughout the Americas.
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LEI: 549300JK10TVQ3CCJQ89
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