Result of AGM
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KEFI (AIM: KEFI), the gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia, announces that at today's Annual General Meeting ("AGM") of the Company all resolutions were duly passed.
The proxy votes were cast as follows:
| RESOLUTIONS | Votes For | % For | Vote Against | % Against | *Votes Withheld |
|---|---|---|---|---|---|
| ORDINARY | |||||
| 1. Receive and adopt financial statements | 2,718,936,207 | 57.7% | 1,996,734,143 | 42.3% | 20,275,162 |
| 2. Re-appoint Harry Anagnostaras-Adams as a director | 4,145,442,585 | 88.4% | 544,719,003 | 11.6% | 45,783,924 |
| 3. Reappoint John Leach as a director | 4,293,351,256 | 91.6% | 394,281,382 | 8.4% | 48,312,874 |
| 4. Reappoint Addis Alemayehou as a director | 4,387,012,739 | 93.6% | 302,283,486 | 6.4% | 46,649,287 |
| 5. Reappoint Alistair Clark as a director | 4,336,350,067 | 92.5% | 350,454,326 | 7.5% | 49,141,119 |
| 6. Re-appoint BDO LLP as auditors | 4,383,655,897 | 93.0% | 328,288,457 | 7.0% | 24,001,158 |
| 7. Authorise remuneration of auditors | 4,359,387,083 | 92.5% | 354,735,897 | 7.5% | 21,822,532 |
| 8. Authorise share allotment (s551) | 4,226,647,581 | 89.8% | 481,044,651 | 10.2% | 28,253,280 |
| 9. Amendment to borrowing limits | 4,289,822,717 | 91.1% | 420,008,184 | 8.9% | 26,114,611 |
| SPECIAL | |||||
| 10. Authorise share allotment disapplying pre-emption rights (s570) | 4,032,530,885 | 88.7% | 511,783,439 | 11.3% | 191,631,188 |
* Votes withheld are not a vote in law and were not included in the calculations for the "for" and "against" percentages
The resolutions are set out in full in the Notice of AGM available on the Company's website: https://www.kefi-goldandcopper.com
The total votes received equated to approximately 34.4% of the Company's total voting rights.
Whilst Resolution 1 was passed with the necessary majority, the directors of the Company (the "Board") note the voting in relation to this resolution. The Board understands this followed a recommendation by ISS, a prominent proxy advisory service, to vote against Resolution 1, which was issued without consultation with, or notice to, the Company. The Board is committed to continued dialogue with its shareholders and will solicit their views, as far as possible, as part of the ongoing and wide-ranging review of the Company's corporate governance and structure as it progresses, including as part of the proposed listing on the Main Market of the London Stock Exchange. The Company looks forward to updating shareholders on these matters in due course.
A short presentation given at the AGM covering certain governance and other corporate matters will shortly be available on the Company's website: https://www.kefi-goldandcopper.com
Total Voting Rights
The Company confirms that that the total issued share capital of the Company consists of 13,772,018,660 ordinary shares of 0.1 pence each ("Ordinary Shares") with voting rights.
The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 13,772,018,660 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
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