23rd Sep 2014 07:00
TUNGSTEN CORPORATION PLC
("Tungsten")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN NOR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
For Immediate Release 23 September, 2014
AGM RESULTS
Tungsten Corporation plc (LSE: TUNG) announces that all the resolutions put to the Annual General Meeting held at 2pm on 22 September 2014 were passed on a show of hands. The table below gives details of the results of the proxy votes received.
Resolution | Total Votes For * | Total Votes Against* | Total VotesWithheld ** |
1. To receive the financial statements and Directors and auditors report for the year ended 30 April 2014 | 59,428,106 (100%) | 0 (0.00%) | 0 |
2. To elect Philip Ashdown as a Director of the Company | 58,809,738 (98.96%) | 618,368 (1.04%) | 0 |
3. To elect Jeffery Belkin as a Director of the Company | 58,818,397 (98.97%) | 609,709 (1.03%) | 0 |
4. To elect Lincoln Jopp as a Director of the Company | 58,818,397 (98.97%) | 609,709 (1.03%) | 0 |
5. To re-elect Peter Kiernan as a Director of the Company | 58,643,980 (98.68%) | 784,126 (1.32%) | 0 |
6. To re-elect Michael Spencer as a Director of the Company | 58,643,980 (98.68%) | 784,126 (1.32%) | 0 |
7. To re-appoint PricewaterhouseCoopers LLP as auditors | 58,221,722 (97.97%) | 1,206,079 (2.03%) | 305 |
8. To authorise the Directors to set the remuneration of the auditors | 58,222,027 (97.97%) | 1,206,079 (2.03%) | 0 |
9. Authority to allot shares | 58,747,085(98.89%) | 660,716 (1.11%) | 20,305 |
10. Authority to disapply pre-emption rights (special resolution) | 59,344,408 (99.89%) | 62,514 (0.11%) | 21,184 |
11. Authority to purchase own shares (special resolution) | 59,397,106 (99.98%) | 11,000 (0.02%) | 20,000 |
12. Reduction of share premium account (special resolution) | 59,337,592 (99.99%) | 8,000 (0.01%) | 82,514 |
13. Authority to call a general meeting on not less than 14 days clear notice (special resolution) | 58,079,919 (97.73%) | 1,348,187 (2.27%) | 0 |
14. Authority to make political donations and incur political expenditure to a specified limit | 58,635,090 (98.92%) | 637,711 (1.08%) | 20,305 |
* Includes discretionary proxy votes lodged in favour of the Chairman, votes for and against lodged in favour of third parties but excludes discretionary proxy votes lodged in favour of third parties.
** A vote withheld is not treated as a vote in law and would not be counted in the calculation of the proportion of the votes cast for or against a resolution.
Defined terms used in this announcement shall have the meanings set out in the AGM Notice.
About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.
Buyer organisations that join Tungsten Network, built on OB10 e-Invoicing, can reduce their invoice-processing costs by 60%. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers supply chain financing through Tungsten Bank to suppliers and helps buying organisations profit by applying real-time spend analytics to its vast repository of over $750 billion of line-level invoice data.
Tungsten Network serves 53% of the Fortune 500 and 66% of the FTSE 100 by connecting the world's largest companies and government agencies to their thousands of suppliers around the globe. It is compliant in 46 countries, and last year processed transactions worth over $187bn per year for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and US Federal Government.
Tungsten Corporation joined forces with OB10 in 2013 to create the world's largest electronic trading network.
Enquiries:
Tungsten Corporation plc
Edmund Truell, Chief Executive Officer +44 20 3435 5680
Sandra Higgison, Head of Global Communications +44 20 7280 7973
Charles Stanley Securities(Nominated Adviser and Joint Broker)
Marc Milmo/Dugald Carlean +44 20 7149 6000
Canaccord Genuity Limited(Joint Broker)
Simon Bridges/Peter Stewart/Cameron Duncan +44 20 7523 8000
Equus Group (Communications)
Piers Hooper / Sam Barton +44 20 7223 1100
Related Shares:
TUNG.L