Microsoft Word - 2016.05.20 Results of AGM 2016.docx
20 May 2016
RESULTS OF ANNUAL GENERAL MEETING 2016
Mineral Deposits Limited (ASX: MDL) is pleased to announce, in accordance with ASX Listing Rule 3.13.2 and section 251AA of the Corporations Act, that all resolutions at today's Annual General meeting of the Company were passed by the requisite majority of the shareholders on a poll.
Details of the resolutions and proxies received in respect of each resolution are set out in the attached proxy summary.
Michaela Evans Company Secretary
Mineral Deposits Limited ABN 19 064 377 420
Level 17 530 Collins Street Melbourne VIC 3000 Australia T +613 9618 2500 F +613 9621 1460 E [email protected] Wmineraldeposits.com.au
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Resolution details
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Instructions given to validly appointed proxies (as at proxy close)
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Number of votes cast on the poll (where applicable)
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Resolution Result
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Resolution
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Resolution Type
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For
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Against
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Proxy's Discretion
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Abstain
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For
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Against
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Abstain*
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Carried / Not Carried
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1 Adoption of Remuneration Report
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Ordinary
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61,058,511
97.40%
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460,383
0.74%
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1,167,754
1.86%
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13,874
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62,266,621
99.27%
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460,383
0.73%
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13,874
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Carried
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2 Re-election of Dr Robert Danchin as a Director
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Ordinary
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61,241,785
97.61%
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326,784
0.53%
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1,169,754
1.86%
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5,927
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63,766,150
99.49%
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326,784
0.51%
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5,927
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Carried
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3 Re-election of Charles MacDonald as a Director
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Ordinary
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61,241,864
97.61%
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327,567
0.53%
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1,169,754
1.86%
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5,065
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63,766,229
99.49%
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327,567
0.51%
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5,065
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Carried
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4 Approval of the MDL Perf Rights Plan & Share Issue
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Ordinary
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60,989,912
97.28%
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534,683
0.86%
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1,167,354
1.86%
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8,573
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62,197,622
99.15%
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534,683
0.85%
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8,573
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Carried
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5 Grant of Perf Rights to Mr Robert Sennitt as a LTI
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Ordinary
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60,990,718
97.28%
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533,877
0.86%
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1,167,354
1.86%
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8,573
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62,198,428
99.15%
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533,877
0.85%
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8,573
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Carried
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6 Approve Vesting Perf Rights & Termination Benefits
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Ordinary
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41,920,638
66.87%
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19,598,224
31.27%
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1,167,354
1.86%
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14,306
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43,117,348
68.74%
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19,609,224
31.26%
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14,306
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Carried
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* Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.
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ABOUT MDL
Mineral Deposits Limited (ASX: MDL) is an Australian based mining company in the business of mining, integrating and transforming mineral sands resources.
MDL owns 50% of the TiZir joint venture in partnership with ERAMET of France. The TiZir joint venture comprises two integrated, operating assets - the Grande Côte mineral sands operation ('GCO') in Senegal, West Africa and the TiZir Titanium & Iron ilmenite upgrading facility ('TTI') in Tyssedal, Norway.
GCO is a large‐scale, cost competitive mineral sands operation located in Senegal that is fully integrated from mine‐to‐ship, using owned or controlled infrastructure. GCO commenced mining activities in March 2014 and, over an expected mine life of at least 25 years, will primarily produce high quality zircon and ilmenite. A majority of GCO's ilmenite is sold to TTI. GCO also produces small amounts of rutile and leucoxene.
TTI upgrades GCO ilmenite to produce high‐quality titanium feedstocks which are primarily sold to pigment producers and a high‐purity pig iron, a valuable co‐product, which is sold to ductile iron foundries. TTI benefits from excellent logistics with respect to cheap and clean power access, year‐round shipping capacity and customer proximity.
Forward looking statements
Certain information contained in this report, including any information on MDL's plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute forward‐looking statements.
Such statements are based on a number of estimates and assumptions that, while considered reasonable by management at the time, are subject to significant business, economic and competitive uncertainties. MDL cautions that such statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of MDL to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward‐looking statements. These factors include the inherent risks involved in mining and mineral processing operations, exploration and development of mineral properties, changes in economic conditions, changes in the worldwide price of zircon, ilmenite and other key inputs, changes in the regulatory environment and other government actions, changes in mine plans and other factors, such as business and operational risk management, many of which are beyond the control of MDL.
Except as required by applicable regulations or by law, MDL does not undertake any obligation to publicly update, review or release any revisions to any forward‐looking statements to reflect new information, future events or circumstances after the date of this report.
Nothing in this report should be construed as either an offer to sell or a solicitation to buy or sell MDL securities.
Contact details
Level 17 530 Collins Street Melbourne Victoria 3000 Australia T +61 3 9618 2500
F +61 3 9621 1460
E [email protected] Wmineraldeposits.com.au
For further information please contact:
Rob Sennitt Managing Director T +61 3 9618 2500
E[email protected]
Greg Bell
Chief Financial Officer T +61 3 9618 2500
E[email protected]
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