TIDMRLD
RNS Number : 9654Y
Richland Resources Ltd
23 May 2016
Richland Resources Limited
("Richland" or "the Company") (AIM: RLD)
23(rd) May 2016
RESULTS OF ANNUAL GENERAL MEETING
Richland Resources Ltd, the gemstones producer and developer of
the Capricorn Sapphire project, announces that proxies representing
97,712,500 shares were received in relation to the Annual General
Meeting of Richland Resources Limited on 20(th) May 2016 and that
all the following resolutions and items of business were
passed:
1. Accounts for the Period Ended 31 December 2015
To receive the financial statements, Directors' report and
Auditor's report for the Company and its controlled entities for
the period ended 31 December 2015.
2. Resolution 1 - Re-election of Dr. Bernard Olivier
To consider and, if thought fit, to pass, with or without
amendment, the following resolution:
"That Dr. Bernard Olivier, who retires by rotation in accordance
with the Company's Bye-Laws and being eligible, offers himself for
re-election, be re-elected as Director."
No. of Votes % of Votes
Count
In Favour: 89,055,249 91.14%
Against: 8,657,251 8.86%
97,712,500 100.00%
----------------- ------------
3. Resolution 2 - Re-appointment of Auditor
To consider and, if thought fit, to pass, with or without
amendment, the following resolution:
"To re-appoint BDO Audit (Wa) Pty Ltd as auditor to the Company,
to hold office until the next annual general meeting of the
Company, at a fee to be agreed by the Directors."
No. of % of Votes
Votes Count
In Favour: 97,712,500 100.00%
Against: - -
97,712,500 100.00%
---------------- ----------------
4. Resolution 3 - Cancellation of 2009 Restricted Shares
To consider and, if though fit, to pass, with or without
amendment, the following resolution:
"That the Company on 10(th) December 2016 acquire as Treasury
Shares the 7,275,000 restricted shares issued to Directors and
employees in 2009 as repayment of the 2009 Shares Loan."
No. of % of Votes
Votes Count
In Favour: 82,472,081 84.40%
Against: 15,240,419 15.60%
97,712,500 100.00%
---------------- ---------------------
5. Resolution 4 - Issue of 12 million Share Options
To consider and, if though fit, to pass, with or without
amendment, the following resolution:
"That the Company issue 12 million share options over Shares in
the Company with an exercise price of 3.5 pence per Share and that
3 million of the 12 million share options be issued to Dr. Bernard
Olivier with the balance to be issued to the group's senior
management, consultants and employees."
No. of % of Votes
Votes Count
In Favour: 73,804,830 75.53%
Against: 23,907,670 24.47%
97,712,500 100.00%
---------------- ---------------------
Following the passing of Resolution 4 the remuneration committee
of the Company have decided to delay the issue of the options
approved by this resolution until Capricorn Sapphire Pty Ltd., the
group's subsidiary which operates the group's Capricorn Sapphire
mine, has its first profitable quarter. The Company will make an
announcement when any options are issued.
End
For more information, please contact:
Bernard Olivier Edward Nealon Mike Allardice
Chief Executive Chairman Group Company Secretary
Officer +61 409 969 955 +852 91 864 854
+61 4089 48182
Laurence Read Nominated Advisor Broker (AIM)
Corporate Development (AIM) Shore Capital
and Communications RFC Ambrian Limited Jerry Keen (corporate
Officer Stephen Allen broking)
+44 (0) 20 3289 +61 (0) 8 9480 Toby Gibbs / Mark
9923 2507 Percy (corporate
finance)
+44 (0) 20 7408
4090
Notes to the Editor:
Further information is available on the Company's website:
www.richlandresourcesltd.com. Neither the contents of the Company's
website nor the contents of any website accessible from hyperlinks
on the Company's website (or any other website) is incorporated
into, or forms part of, this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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