Golden Queen Announces Voting Results of Annual General Meeting
VANCOUVER, May 13, 2019 /CNW/ - Golden Queen Mining Co. Ltd. (TSX:GQM; OTCQX:GQMNF) (the "Company" or "Golden Queen") is pleased to provide the detailed voting results on the items of business considered at the Company's Annual General and Special Meeting (the "Meeting"). The Meeting of Shareholders was held on Monday, May 13, 2019 (the "Meeting"). A total of 265,793,953 common shares were voted, representing 88.57% of the outstanding common shares. The Company wishes to thank the shareholders for their support of the Board of Directors' recommendations.
All resolutions proposed in the notice calling the meeting were approved. The percentage of votes cast for each is as follows:
Proposal 1 - Number of Directors
The number of directors for the Board of Directors of the Company was set as three.
Votes of shares for |
% votes cast |
Votes against |
% votes cast |
215,794,898 |
98.36% |
3,593,132 |
1.64% |
Proposal 2 - Election of Directors
Each of the nominee directors listed in the Company's proxy statement and management information circular dated April 10, 2019 was elected as a director, without a vote by ballot being conducted. Golden Queen received proxies directing voting on the three directors nominated for election as set forth in the table below:
Name of nominee |
Votes for |
% votes cast |
Votes withheld/abstain |
% votes cast |
Paul M. Blythe |
213,958,773 |
97.53% |
5,429,257 |
2.47% |
Bryan A. Coates |
213,481,477 |
97.31% |
5,906,553 |
2.69% |
Bernard Guarnera |
213,522,601 |
97.33% |
5,865,429 |
2.67% |
Proposal 3 - Appointment of Auditors
According to proxies received and a vote by show of hands, PricewaterhouseCoopers LLP was appointed as the Company's auditors until the next general meeting of shareholders or until a successor is appointed and the directors were authorized to fix the auditors' remuneration.
Votes of shares for |
% votes cast |
Votes withheld/abstain |
% votes cast |
261,433,050 |
98.36% |
4,360,903 |
1.64% |
Proposal 4 – Approval of the Company's Stock Option Plan
According to proxies received and a vote by show of hands, the Company's Stock Option Plan is approved and the Company continues to have the ability to grant options under the Plan until May 13, 2022.
Votes of shares for |
% votes cast |
Votes against |
% votes cast |
170,830,141 |
77.87% |
48,557,889 |
22.13% |
Proposal 5 – Approval of the Sale of the Soledad Mountain Project
According to the proxies received and a vote by show of hands, the sale of the Soledad Mountain Project is approved and the Company will proceed with the share purchase agreement described in the Information Circular dated April 10, 2019.
Votes of shares for |
% votes cast |
Votes against |
% votes cast |
212,246,238 |
96.74% |
7,141,792 |
3.26% |
Proposal 6 – Approval of Share Consolidation
According to the proxies received and a vote by show of hands, the consolidation of the Company's shares on the basis of ten existing shares for each one post-consolidation share is approved.
Votes of shares for |
% votes cast |
Votes against |
% votes cast |
214,275,012 |
97.67% |
5,113,018 |
2.33% |
Advisory Voting
The shareholders were asked to consider the Advisory Say on Pay resolution to approve the Company's approach to executive compensation as disclosed in the Information Circular dated April 10, 2019 ('say on pay'). This resolution was approved with 85.51% of votes cast in favour.
Full details of all proposals are fully described in the Company's Management Information Circular available on the Company's website at www.goldenqueen.com, on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov and the detailed results of voting on each proposal are included in the Report of Voting Results filed on SEDAR and on EDGAR.
SOURCE Golden Queen Mining Co. Ltd.
Brenda Dayton, Telephone: 778.373.1557, Email: [email protected]
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