TIDMGEMD
RNS Number : 2275O
Gem Diamonds Limited
08 June 2022
8 June 2022
GEM DIAMONDS LIMITED
("Gem Diamonds" or "the Company")
Results of Annual General Meeting
The Company announces that at its Annual General Meeting ('AGM')
held at 10.00 a.m. on Wednesday 8 June 2022 all resolutions put to
the meeting were duly passed by poll vote.
The full text of the resolutions considered at the AGM is
contained in the Notice of AGM published on 29 April 2022 which is
available on the Company's website at www.gemdiamonds.com
Results of the poll vote on each resolution are set out
below:
.
Resolution For % For Against % Against Withheld
To receive
the 2021 Annual
1 Report 86,618,778 99.33 581,850 0.67 19,763
------------------ ----------- ------ ----------- ---------- -----------
To approve
the Directors'
Remuneration
2 report 49,271,442 86.8 7,491,895 13.2 30,457,054
------------------ ----------- ------ ----------- ---------- -----------
Re-appointment
3 of auditor 84,848,770 97.28 2,371,621 2.72 0
------------------ ----------- ------ ----------- ---------- -----------
Remuneration
4 of auditor 87,220,391 100 0 0 0
------------------ ----------- ------ ----------- ---------- -----------
To approve
a final dividend
of 2.7 US cents
per ordinary
5 share 87,220,391 100 0 0 0
------------------ ----------- ------ ----------- ---------- -----------
Re-elect Harry
6 Kenyon-Slaney 51,530,424 90.76 5,242,913 9.24 30,447,054
------------------ ----------- ------ ----------- ---------- -----------
Re-elect Michael
7 Lynch-Bell 51,575,950 90.86 5,187,387 9.14 30,457,054
------------------ ----------- ------ ----------- ---------- -----------
Re-elect Mike
8 Bell 51,534,958 90.77 5,238,380 9.23 30,447,054
------------------ ----------- ------ ----------- ---------- -----------
Re-elect Mazvi
9 Maharasoa 56,682,317 99.84 91,021 0.16 30,447,054
------------------ ----------- ------ ----------- ---------- -----------
Re-elect Rosalind
10 Kainyah 56,743,088 99.95 30,249 0.05 30,447,054
------------------ ----------- ------ ----------- ---------- -----------
Re-elect Clifford
11 Elphick 51,626,325 90.93 5,147,012 9.07 30,447,054
------------------ ----------- ------ ----------- ---------- -----------
Re-elect Michael
12 Michael 51,609,604 90.9 5,163,733 9.1 30,447,054
------------------ ----------- ------ ----------- ---------- -----------
To renew the
Directors'
authority to
13 allot securities 51,071,213 58.55 36,149,178 41.45 0
------------------ ----------- ------ ----------- ---------- -----------
Authority for
the Company
to purchase
14 its own shares 84,848,770 97.28 2,371,621 2.72 0
------------------ ----------- ------ ----------- ---------- -----------
The Board notes that although Resolution 13 was duly passed, it
did not reach the 80% threshold primarily as a result of votes cast
by a significant shareholder.
The Board is disappointed in this outcome, given that the
resolution represents routine AGM business and reflects UK listed
company market practice. The Board considers the flexibility
afforded by this authority to be in the best interests of the
Company and shareholders and notes that it has received support at
past AGMs. However, the Board is aware that certain shareholders
have a policy of not supporting such resolutions. The Board remains
committed to continuing an open and transparent dialogue and will
accordingly, seek to continue to engage with those shareholders
regarding their views in this area. The Company will publish an
update on this engagement, in accordance with the UK Corporate
Governance Code, within six months of the 2022 AGM and in the
Company's 2022 Annual Report and Accounts. It will report on any
steps that have been taken to understand shareholders' views in
relation to these resolutions and what impact any feedback may have
on future decisions to be taken by the Board and actions or
resolutions to be proposed.
1. All resolutions were passed.
2. Votes "For" and "Against" are expressed as a percentage of
votes received.
3. A "Vote withheld" is not a vote in law and is not counted in
the calculation of the % of shares voted "For" or "Against" a
resolution.
4. The total voting rights of the Company on 7 June 2022 is
139,227,807 Ordinary Shares of US$ 0.01 each. The Company holds
1,520,170 Ordinary Shares in Treasury.
5. In accordance with LR 9.6.2, a copy of the resolutions, other
than those concerning ordinary business, will be submitted to the
UK Listing Authority and will in due course be available for
inspection via the FCA National Storage Mechanism.
6. These poll results will be available shortly on the Company's
website www.gemdiamonds.com
For further information, please contact:
Gem Diamonds Limited
Susan Wallace, Company Secretarial department
Tel: +44(0) 203 043 0280
ir@gemdiamonds.com
Celicourt Communications
Mark Antelme/Felicity Winkles
Tel: +44 (0) 208 434 2643
About Gem Diamonds :
Gem Diamonds is a leading global diamond producer of high value
diamonds. The Company owns 70% of the Letšeng mine in Lesotho and
is currently in the process of selling its 100% share of the
Ghaghoo mine in Botswana. The Letšeng mine is famous for the
production of large, top colour, exceptional white diamonds, making
it the highest dollar per carat kimberlite diamond mine in the
world. www.gemdiamonds.com
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END
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