Dissemination of a regulatory announcement that contains inside information according to Regulation (EU) No 596/2014 (MAR).
Karelian Diamond Resources plc
(“Karelian Diamonds” or “the Company”)
26 July 2019
Result of extraordinary general meeting
Karelian Diamonds announces that at the Extraordinary General Meeting of the Company held earlier today, a poll was taken on each of the resolutions proposed. Resolutions 1 to 5 pertaining to the removal of Professor Richard Conroy, Maureen Jones, Seamus Fitzpatrick, Louis Maguire and Dr. Sor?a Conroy were not passed. Resolutions 6 to 9 pertaining to the appointment of Alan Osborne, Stephen Grimmer, Martin Doyle and Kevin Taylor were not passed.
Accordingly the board of the Company will remain unchanged and be composed of Professor Richard Conroy (Chairman), Maureen Jones (Managing Director), Seamus Fitzpatrick (Non-Executive Director), Louis Maguire (Non-Executive Director), Dr Sor?a Conroy (Non-Executive Director) and Brendan McMorrow (Non-Executive Director).
The results of each resolution are set out below and will also be available on the Company’s website shortly.
| Resolution |
Detail |
For (%) |
For Number of Shares |
Against (%) |
Against Number of Shares |
|
|
|
|
|
|
| 1 |
That Professor Richard Conroy be and is hereby removed from office as a director of the Company in accordance with Section 146 of the Companies Act 2014 with effect from the end of the Extraordinary General Meeting |
47.75% |
11,908,712 |
52.25% |
13,028,636 |
| 2 |
That Maureen Jones be and is hereby removed from office as a director of the Company in accordance with Section 146 of the Companies Act 2014 with effect from the end of the Extraordinary General Meeting |
47.75% |
11,908,716 |
52.25% |
13,028,632 |
| 3 |
That Seamus Fitzpatrick be and is hereby removed from office as a director of the Company in accordance with Section 146 of the Companies Act 2014 with immediate effect |
47.75% |
11,908,710 |
52.25% |
13,028,632 |
| 4 |
That Louis Maguire be and is hereby removed from office as a director of the Company in accordance with Section 146 of the Companies Act 2014 with immediate effect |
47.75% |
11,908,710 |
52.25% |
13,028,632 |
| 5 |
That Dr. Sor?a Conroy be and is hereby removed from office as a director of the Company in accordance with Section 146 of the Companies Act 2014 with immediate effect |
47.75% |
11,908,716 |
52.25% |
13,028,632 |
| 6 |
That Alan Osborne be appointed as director with immediate effect |
47.75% |
11,908,718 |
52.25% |
13,028,591 |
| 7 |
That Stephen Grimmer be appointed as director with immediate effect |
47.75% |
11,908,718 |
52.25% |
13,028,591 |
| 8 |
That Martin Doyle be appointed as director with immediate effect |
47.75% |
11,908,718 |
52.25% |
13,028,591 |
| 9 |
That Kevin Taylor be appointed as director with immediate effect |
47.75% |
11,908,718 |
52.25% |
13,028,591 |
Votes “For” and “Against” are expressed as a percentage of votes received. A “Vote withheld” is not a vote in law and is not counted in the calculation of the votes “For” and “Against” a resolution. Votes were cast for a total of 24,940,221 ordinary shares of €0.00025, representing 72.31% of the total number of votes capable of being cast at the EGM for every resolution. The Company's issued share capital as at today's date is 36,989,178 ordinary shares and the number of votes per share is one. Each of the resolutions were proposed as ordinary resolutions. Less than 3000 votes were withheld for each resolution.
For further information please contact:
| Karelian Diamond Resources plc |
Tel: +353-1-479-6180 |
| Professor Richard Conroy, Chairman |
|
| Allenby Capital Limited (Nomad) |
Tel: +44-20-3328-5656 |
| Nick Athanas/Nick Harriss |
|
| Brandon Hill Capital Limited (Broker) |
Tel: +44-20-3463-5000 |
| Jonathan Evans |
|
| Lothbury Financial Services |
Tel: +44-20-3290-0707 |
| Michael Padley |
|
| Hall Communications |
Tel: +353-1-660-9377 |
| Don Hall |
|
