DISCOVERY METALS LIMITED 27 November 2014
RESULTS OF 2014 ANNUAL
GENERAL MEETING
In accordance with ASX Listing Rule 3.13.2 and section 251AA of the Corporations Act 2001 (Cth), the following information is provided in relation to the resolutions passed by the shareholders of Discovery Metals Limited at its 2014 Annual General Meeting held today, 27 November 2014.
Resolutions 1 to 5 were duly carried on a show of hands.
Resolution 1 - Adoption of Remuneration Report (non-binding resolution)
"That the Remuneration Report as disclosed in the Directors' Report for the year ended 30 June 2014 is
approved for the purposes of the Corporations Act."
The total number of proxy votes exercisable by all proxies validly appointed was 218,223,914. Instructions in respect of the proxies were:
For | Against | Proxy's Discretion | Abstain |
203,017,311 | 9,473,928 | 5,732,675 | 496,904 |
93% | 4.4% | 2.6% |
The motion was carried as an ordinary resolution on a show of hands.
Resolution 2 - Re-election of Director, Mr Jeremy Read
"That in accordance with the Constitution of the Company and the Listing Rules, Mr Jeremy Read who retires by rotation in accordance with clause 12.1(c) of the Company's Constitution and being eligible, be re-elected as a Director of Discovery Metals Limited."
The total number of proxy votes exercisable by all proxies validly appointed was 221,549,820.
Instructions in respect of the proxies were:
For | Against | Proxy's Discretion | Abstain |
211,037,766 | 4,486,090 | 6,025,964 | 1,368,498 |
95.3% | 2% | 2.7% |
The motion was carried as an ordinary resolution on a show of hands.
27 November 2014
Resolution 3 - Election of Director, Mr Royston Denysschen
"That in accordance with the Constitution of the Company and the Listing Rules, Mr Royston Denysschen who was appointed to the Board since the last annual general meeting, being eligible, be elected as a Director of Discovery Metals Limited."
The total number of proxy votes exercisable by all proxies validly appointed was 102,688,781.
Instructions in respect of the proxies were:
For | Against | Proxy's Discretion | Abstain |
93,095,099 | 3,554,818 | 6,038,864 | 120,229,537 |
90.7% | 3.4% | 5.9% |
The motion was carried as an ordinary resolution on a show of hands.
Resolution 4 - Ratification of Placement Shares
"That pursuant to and in accordance with Listing Rule 7.4 and for all other purposes, Shareholders ratify the allotment and issue of 84,005,163 Shares to Transamine Trading S.A. on the terms and conditions in the Explanatory Memorandum."
The total number of proxy votes exercisable by all proxies validly appointed was 101,713,711.
Instructions in respect of the proxies were:
For | Against | Proxy's Discretion | Abstain |
91,244,418 | 4,673,329 | 5,795,964 | 332,339 |
89.7% | 4.6% | 5.7% |
The motion was carried as an ordinary resolution on a show of hands.
Resolution 5 - Approval of Additional 10% Placement Capacity
"That for the purposes of Listing Rule 7.1A and for all other purposes, approval is given for the issue of equity securities totalling up to 10% of the issued capital of the Company at the time of issue, calculated in accordance with the formula prescribed in Listing Rule 7.1A.2 and on the terms and conditions set out in the Explanatory Memorandum accompanying this Notice of Meeting."
The total number of proxy votes exercisable by all proxies validly appointed was 222,538,922.
Instructions in respect of the proxies were:
For | Against | Proxy's Discretion | Abstain |
209,359,275 | 7,383,683 | 5,795,964 | 379,396 |
94.1% | 3.3% | 2.6% |
The motion was carried as an ordinary resolution on a show of hands.
27 November 2014
FORWARD LOOKING STATEMENTS
This release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future activities and events or developments that Discovery Metals expects, are forward-looking statements. Although Discovery Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements.
DISCOVERY METALS BACKGROUND
Discovery Metals is an ASX/BSE listed copper exploration and production company focused on the emerging Kalahari Copperbelt in north-west Botswana. The Company is a copper producer at its 100% owned Boseto Copper Operation.
The Kalahari Copperbelt sediment-hosted mineralisation of the Boseto Copper Operation is similar in style to the well-known and large deposits of the Central African Copperbelt of Zambia and the Democratic Republic of the Congo.
Discovery Metals has prospecting licences covering approximately 26,150 km2 in Botswana.
Further information on the Company including Mineral Resources and Ore Reserves is available on our website:
www.discoverymetals.com
For further information on this release and Discovery Metals Limited, please contact:
Bob Fulker - CEO
Phone: +61 7 3218 0222 / Email: Bob.Fulker@discoverymetals.com
Kerry Parker - CFO and Company Secretary
Phone: +61 7 3218 0222 / Email: Kerry.Parker@discoverymetals.com
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