12th Jun 2012 15:15
12 June 2012
Eurasian Natural Resources Corporation PLC
Result of Annual General Meeting
London - Eurasian Natural Resources Corporation PLC ('ENRC') is pleased to announce the result of its Annual General Meeting ('AGM') held at 11.00 (London time) today. At the meeting the Chairman, Mr Mehmet Dalman, said:
"Since the release of our Preliminary Results announcement on the 21 March 2012, we released an update to the market through our Interim Management Statement on the 10 May 2012. Guidance on production volumes, cost inflation and the Group's expectations for the year remain largely unchanged and there has been no further new material operational or financial information released.
We announced to the market on the 25 May 2012 that two new Independent Board members had been appointed to the Board, as of the close of this meeting today. I would like to take this opportunity to formally welcome Mr Richard Burrows and Mr Mohsen Khalil to the Board of ENRC. Both bring significant institutional and emerging market experience and we look forward to their contributions."
Each of the resolutions as laid out in the Notice of AGM of 16 April 2012 were voted on by way of a poll. The results, certified by the Company's Registrars, Computershare Investor Services PLC, were as follows:
Resolutions | For
| % | Against | % | Total Votes Cast | Votes Withheld
|
1 Receipt of audited accounts and Directors' and Auditors' Reports for 2011 | 809,373,533 | 99.83 | 1,359,178 | 0.17 | 810,732,711 | 2,255,087 |
2 Declaration of final dividend of US 11 cents per ordinary share | 812,933,852 | 100.00 | 4,884 | 0.00 | 812,938,736 | 49,063 |
3 Approval of Directors' Remuneration Report for 2011 | 789,791,311 | 97.93 | 16,688,472 | 2.07 | 806,479,783 | 6,507,915 |
4 Election of Mr Terence Wilkinson | 812,478,358 | 99.95 | 429,223 | 0.05 | 812,907,581 | 80,387 |
5 Re-election of Professor Dr Dieter Ameling | 812,230,236 | 99.92 | 678,095 | 0.08 | 812,908,331 | 79,636 |
6 Re-election of Mr Gerhard Ammann | 812,485,772 | 99.95 | 422,559 | 0.05 | 812,908,331 | 79,637 |
7 Re-election of Mr Marat Beketayev | 809,304,029 | 99.73 | 2,211,022 | 0.27 | 811,515,051 | 1,472,916 |
8 Re-election of Mr James Cochrane | 812,364,219 | 99.93 | 544,112 | 0.07 | 812,908,331 | 79,637 |
9 Re-election of Mr Mehmet Dalman | 812,187,482 | 99.91 | 751,099 | 0.09 | 812,938,581 | 49,387 |
10 Re-election of Sir Paul Judge | 810,879,134 | 99.89 | 870,676 | 0.11 | 811,749,810 | 1,238,157 |
11 Re-election of Mr Roderick Thomson | 812,234,337 | 99.92 | 673,994 | 0.08 | 812,908,331 | 79,637 |
12 Re-election of Mr Felix Vulis | 812,409,479 | 99.94 | 498,542 | 0.06 | 812,908,021 | 79,947 |
13 Re-election of Dr Zaure Zaurbekova | 812,386,689 | 99.93 | 552,165 | 0.07 | 812,938,854 | 49,114 |
14 Re-appointment of PricewaterhouseCoopers LLP as auditors | 811,572,194 | 99.97 | 203,917 | 0.03 | 811,776,111 | 1,211,856 |
15 Authority to set the remuneration of the auditors. | 812,218,368 | 99.91 | 716,152 | 0.09 | 812,934,520 | 53,448 |
16 Authority to allot shares | 811,046,207 | 99.77 | 1,860,912 | 0.23 | 812,907,119 | 80,848 |
17 Special Resolution: Authority to disapply pre-emption | 811,412,382 | 99.82 | 1,494,994 | 0.18 | 812,907,376 | 80,591 |
18 Special Resolution: Authority to purchase own ordinary shares. | 811,961,252 | 99.95 | 405,239 | 0.05 | 812,366,491 | 621,477 |
19 Special Resolution: Authority to call a general meeting on not less than 14 clear days' notice. | 799,455,639 | 98.51 | 12,088,537 | 1.49 | 811,544,176 | 1,442,866 |
20 Authority to amend the 2011 LTIP awards to vest on or around 3 May 2014. | 807,536,489 | 99.60 | 3,248,953 | 0.40 | 810,785,442 | 2,202,525 |
Notes:
1. Votes "For" and "Against" are expressed as a percentage of votes received.
2. A "Vote Withheld" is not a vote in law and is not counted in the calculation of the votes "For" and "Against" a resolution.
3. Total number of ordinary shares in issue as at 11am on 8 June 2012 was 1,287,750,000. Votes were cast in respect of 63.13% of shares in issue.
Full details of the resolutions, together with explanatory notes, are set out in the Notice of AGM which is available on the Company's website www.enrc.com
In accordance with Listing Rule 9.6.2R, copies of the resolutions passed as special business have been submitted to the Financial Services Authority National Storage Mechanism and will be available shortly for inspection at http://www.hemscott.com/nsm.do. In addition, special resolutions 17, 18 and 19 will be filed with Companies House.
- ENDS -
For further information, please contact:
ENRC: Company Secretary | |
Victoria Penrice | +44 (0) 20 7389 1440 |
About ENRC
ENRC is a leading diversified natural resources group, performing integrated mining, processing, energy, logistics and marketing operations. The operations comprise: the mining and processing of chrome, manganese and iron ore; the smelting of ferroalloys; the production of iron ore concentrate and pellet; the mining and processing of bauxite for the extraction of alumina and the production of aluminium; the production of copper and cobalt; coal extraction and electricity generation; and the transportation and sales of the Group's products. The Group's production assets are largely located in the Republic of Kazakhstan; other assets, notably the Other Non-ferrous Division, are mainly located in Africa; the Group also has iron ore assets in Brazil. The Group currently sells the majority of its products to Russia, China, Japan, Western Europe and the United States. For the twelve months ended 31 December 2011, the Group had revenue of US$7,705 million (2010: US$6,605 million) and profit attributable to equity shareholders of the Group of US$1,974 million (2010: US$2,185 million). ENRC has six operating Divisions: Ferroalloys, Iron Ore, Alumina and Aluminium, Other Non-ferrous, Energy and Logistics. ENRC is a UK company with its registered office in London. ENRC's shares are quoted on the London Stock Exchange ('LSE') and the Kazakhstan Stock Exchange ('KASE'). For more information on ENRC visit the Group's website at www.enrc.com
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