Gemfields Group Reports Strong Shareholder Support with 67.30% Attendance at AGM

  • Gemfields' AGM on June 25, 2024, saw 67.30% shareholder attendance.
  • Most resolutions, including director re-elections, received strong support.
  • Special resolution on share issuance did not meet required shareholder majority.

AGM

Gemfields Group Limited held its Annual General Meeting (AGM) on June 25, 2024. The meeting took place in London. Shareholders voted on several resolutions. Most resolutions were passed with significant support. However, one special resolution failed to meet the required threshold.

Attendance and Voting Statistics

Shareholders’ Presence

The total number of Ordinary Shares with voting rights is 1,166,695,130. The number of shares present or represented, including proxies, was 785,134,494. This represents 67.30% of the total Ordinary Shares.

CategoryNumber of SharesPercentage (%)
Total Ordinary Shares1,166,695,130100.00
Shares Represented785,134,49467.30

Ordinary Resolutions

Resolution 1: Adoption of Annual Report

The adoption of the Company’s Annual Report for 2023 was approved. All votes were in favor.

ResolutionForAgainstAbstain
Annual Report Adoption785,106,596027,898

Resolution 2: Re-election of Mary Reilly

Mary Reilly was re-elected as a Director. 76.96% of votes supported this resolution.

ResolutionForAgainstAbstain
Mary Reilly604,127,634180,832,078174,782

Resolution 3: Re-election of Kwape Mmela

Kwape Mmela was re-elected as a Director with 99.97% support.

ResolutionForAgainstAbstain
Kwape Mmela784,693,835266,677173,982

Resolution 4: Mary Reilly to Audit Committee

Mary Reilly was re-elected to the Audit Committee with 76.95% support.

ResolutionForAgainstAbstain
Mary Reilly604,053,636180,906,876173,982

Resolution 5: Lumkile Mondi to Audit Committee

Lumkile Mondi was re-elected to the Audit Committee with 76.98% support.

ResolutionForAgainstAbstain
Lumkile Mondi604,241,274180,718,438174,782

Resolution 6: Re-appointment of Auditor

Ernst & Young LLP was re-appointed as the Company’s auditor until the 2025 AGM.

ResolutionForAgainstAbstain
Auditor Re-appointment785,036,16483,54814,782

Special Resolutions

Special Resolution 1: Issuance of Shares for Cash

The special resolution to issue shares for cash and waive pre-emption rights did not pass. It required a 75% majority but received only 65.39% support.

ResolutionForAgainstAbstain
Issuance of Shares for Cash513,345,866271,753,15435,474

Non-binding Advisory Votes

Remuneration Policy

The Company’s Remuneration Policy received 99.53% support.

ResolutionForAgainstAbstain
Remuneration Policy781,415,5943,662,91355,987

Remuneration Implementation Report

The Remuneration Implementation Report was endorsed by 76.53% of shareholders.

ResolutionForAgainstAbstain
Remuneration Implementation Report600,836,842184,241,66555,987

Conclusion

Gemfields’ AGM saw most resolutions pass, reflecting strong shareholder support. The company continues to lead in responsible gemstone mining and marketing. The failed special resolution on share issuance indicates areas for potential improvement.


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