RNS Announcement
Hochschild Mining plc
("the Company")
Result of AGM
20 May 2016
The Company announces the results detailed below of the poll taken at the Annual General Meeting held earlier today.
The Company notes the level of votes against the 2015 Remuneration Report which, through shareholder engagement, appears to be in response to (a) the base salary increases awarded to the CEO during 2015 and (b) the calculation of the CEO's 2015 annual bonus with reference to his year-end salary.
The Remuneration Committee acknowledges the specific views expressed by shareholders which will be taken into account as part of a review of the Company's framework of executive remuneration. The Committee also intends to consult its significant shareholders as part of this review.
Copy of Resolutions
A copy of the resolutions passed as Special Business at the Annual General Meeting is being submitted to the UK Listing Authority and will shortly be available for inspection at the National Storage Mechanism document viewing facility at: http://www.morningstar.co.uk/uk/nsm
Note
The number of Ordinary Shares in issue on 18 May 2016 at 6pm was 505,571,505. Shareholders are entitled to one vote per share. A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes cast.
FOR
AGAINST
Resolution
Description of Resolution
Number of Votes
% of Votes Cast1
Number
of Votes
Total Number of Votes Cast
Votes Withheld
1
Receipt of 2015 Report and Accounts
421,419,079
97.24
11,972,426
2.76
434,265,280
873,775
2
Approve 2015 Directors' Remuneration Report
284,334,705
65.75
148,095,988
34.25
1,834,587
3
Re-elect Graham Birch
425,794,662
98.05
8,470,618
1.95
0
Votes of the independent shareholders2
151,729,289
94.71
5.29
160,199,907
4
Re-elect Enrico Bombieri
421,521,320
97.07
12,743,960
2.93
147,455,947
92.04
7.96
5
Re-elect Jorge Born Jr.
434,169,811
99.98
95,469
0.02
160,104,438
99.94
0.06
6
Re-elect Ignacio Bustamante
432,323,478
99.55
1,941,802
0.45
7
Re-elect Roberto Danino
432,322,103
1,943,177
8
Re-elect Eduardo Hochschild
381,066,323
87.75
53,198,957
12.25
9
Re-elect Nigel Moore
422,093,207
97.20
12,172,073
2.80
148,027,834
92.40
7.60
10
Elect Michael Rawlinson
433,790,063
99.89
475,217
0.11
159,724,690
99.70
0.30
11
Re-appoint Ernst & Young LLP as auditors
431,747,323
99.47
2,311,707
0.53
206,250
12
Authorise the Audit Committee to set the auditors' remuneration
433,801,246
464,034
13
Authorise directors to allot shares/grant rights to subscribe for or to convert any securities into shares
430,860,160
99.79
907,411
0.21
2,497,709
14
Disapply statutory pre emption rights
426,266,966
98.74
5,450,605
1.26
2,547,709
15
Authorise the Company to make market purchases of own shares
429,936,614
99.58
1,830,957
0.42
16
Authorise general meetings other than AGMs to be called on not less than 14 clear days' notice
419,827,083
96.68
14,438,197
3.32
1. Excludes votes withheld
2. Under Listing Rule 9.2.2E R, resolutions on the re-election of any independent director must be approved by (a) the shareholders of the Company; and (b) the independent shareholders of the Company.
Enquiries:
Raj Bhasin
+44 (0)20 3714 9040
Company Secretary
Hudson Sandler
Charlie Jack
+44 (0)207 796 4133
Public Relations
14:28:25
AGMs and other meetings
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