Bacanora Lithium PLC Notice of AGM (1235N)
18 May 2020 - 4:00PM
UK Regulatory
TIDMBCN
RNS Number : 1235N
Bacanora Lithium PLC
18 May 2020
18 May 2020
Bacanora Lithium plc
("Bacanora" or the "Company")
Notice of AGM
Bacanora Lithium plc (AIM: BCN), a lithium exploration and
development company, is pleased to announce that the Company's
Annual General Meeting ("AGM") will be held at The Clubhouse, 8 St
James's Square, London SW1Y 4JU, at 11am on 11 June 2020.
The Board takes its responsibility to safeguard the health of
its shareholders, stakeholders and employees seriously. As a result
of the current measures implemented by the UK Government therefore,
attendance at its AGM will be limited to two persons. Shareholders
may not attend in person. If the UK Government changes the measures
before the date of the AGM, the Company will provide a further
update.
Shareholders wishing to vote on matters of business are urged to
do so via the completion of a proxy form. In line with corporate
governance best practice, and in order that any proxy votes of
those shareholders who are not allowed to attend, and to vote in
person, are fully reflected in the voting on the resolutions, the
Chairman of the meeting will direct that voting on all resolutions
set out in the notice of meeting will take place by way of a poll.
The final poll vote on each resolution will be published
immediately after the AGM on the Company's website.
As shareholders will not be able to attend this year's AGM the
Company is proposing to allow shareholders the opportunity to raise
any issues or concerns arising from the business proposed, to be
conducted at the meeting. Appropriate questions should be emailed
to info@bacanoralithium.com before 9 June 2020 and responses will
be posted on the Company's website on the morning of the AGM. The
Company will be hosting a shareholder update call after 30 June
2020 in order to give a detailed project update.
In support of the Bacanora's ongoing commitment to minimise
unnecessary waste, the Notice of AGM, Form of Proxy, Deemed Consent
Letters and the Annual Accounts for the six months to 31 December
2019 are available for download on the Company's website:
www.bacanoralithium.com/investor-relations/agm-documents/.
The Company's near-term strategy is to bring the Sonora Lithium
Project ("Sonora"), located in Mexico, into development. To provide
the Company therefore with further financial flexibility to do so,
it is important to highlight Resolutions 7 and 8 in the AGM
documentation. These resolutions allow the Company to seek approval
for the authority to issue up to 500 million shares, together with
the disapplication of pre-emption rights. The share headroom
resolutions remain the same, as approved by shareholders, at the
Company's last two AGMs.
Lastly, Resolution 10 provides the Company with the approval to
revise its Articles. Whilst there is no current intention to do so,
the Revised Articles will enable that the Company to hold 'hybrid'
general meetings. As such, members attend and participate in the
business of the meeting by attending a physical location, or by
means of an electronic facility or facilities. These changes will
make it easier for members to attend and participate in future
general meetings which will facilitate better shareholder
engagement.
** ENDS **
For further information please visit www.bacanoralithium.com or
contact:
Bacanora Lithium plc info@bacanoralithium.com
Peter Secker, CEO
Janet Blas, CFO
Cairn Financial Advisers LLP,
Nomad
Sandy Jamieson / Liam Murray +44 (0) 20 7213 0880
Citigroup Global Markets,
Joint Broker
Tom Reid / Patrick Evans /
Matthew Kenney +44 (0) 20 7986 4000
Canaccord Genuity, Joint Broker
James Asensio / Edward Montgomery +44 (0) 20 7523 8000
Tavistock, Financial PR Adviser Bacanora@tavistock.co.uk
Jos Simson / Emily Moss / +44 (0) 20 7920 3150
Oliver Lamb +44 (0) 77 8855 4035
Notes to editors
Bacanora Lithium Plc is an AIM-listed (ticker 'BCN') lithium
development and exploration company. The Company owns assets in
Mexico and Germany. It is focused on building, in collaboration
with its major shareholder and offtake partner, Ganfeng Lithium
(the world's largest lithium metals producer), a 35,000 tonne per
annum open pit lithium carbonate operation at its flagship asset,
the Sonora Lithium Project in Mexico. The Sonora Lithium Project
has 8.8 million tonnes of lithium carbonate (Li(2) CO(3) )
equivalent resources, with an approximate 250 year resource life,
as detailed in its December 2017 Feasibility Study.
Sonora Lithium Ltd ("SLL") is the operational holding company
for the Sonora Lithium Project and owns 100% of the La Ventana
concession. The La Ventana concession accounts for 88% of the mined
ore feed in the Sonora Feasibility Study which covers the initial
19 years of the project mine life. SLL is owned 77.5% by Bacanora
and 22.5% by Ganfeng Lithium Ltd. SLL also owns 70% of the El Sauz
and Fleur concessions.
In addition, the Company has a 50% interest in the Zinnwald
Lithium Project and the Falkenhain and Altenberg Licences in
southern Saxony, Germany.
Important notice
The contents of this announcement have been prepared by and are
the sole responsibility of Bacanora.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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