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Antofagasta PLC AGM Information 2017
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AGM Information
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ANTOFAGASTA PLC
(Incorporated in England and Wales with Registered No. 1627889)
NOTICE OF ANNUAL GENERAL MEETING 2017
24 MAY 2017, 10.00AM
CHURCH HOUSE WESTMINSTER, DEAN'S YARD, LONDON SW1P 3NZ
NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.
IF YOU ARE IN ANY DOUBT ABOUT ITS CONTENTS, YOU SHOULD CONSULT A STOCKBROKER, SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT PROFESSIONAL ADVISER AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 WHO SPECIALISES IN ADVISING IN CONNECTION WITH SHARES AND OTHER SECURITIES.
If you have sold or otherwise transferred all of your shares in Antofagasta plc, please send this document, together with the enclosed form(s) of proxy, to the purchaser or transferee or to the stockbroker, bank, or other agent through whom the sale or transfer was effected so that they can be passed to the person who now owns the shares.
This document should be read in conjunction with the Annual Report and Financial Statements of Antofagasta plc in respect of the year ended 31 December 2016.
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
NOTICE OF ANNUAL GENERAL MEETING TO BE HELD ON 24 MAY 2017
Notice of the 2017 Annual General Meeting of the Company to be held at 10.00am on 24 May 2017 at Church House Westminster, Dean's Yard, London SW1P 3NZ may be found on pages 15 to 21.
The action to be taken by shareholders is set out on page 14. Shareholders of the Company are requested to complete, sign and submit the enclosed form of proxy in accordance with the instructions printed on it, whether or not they propose to attend the Annual General Meeting. To be valid, a form of proxy must be deposited (or submitted electronically at www.investorcentre.co.uk/eproxy) with the registrars of the Company, Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol BS99 6ZY, as soon as possible, but in any event no later than 10.00am on 22 May 2017. CREST members wishing to use the CREST electronic appointment service are referred to Note 5 of the Notice of Annual General Meeting on page 19. Completion of a form of proxy will not preclude a shareholder from attending the relevant meeting and voting in person. If you are not a shareholder of the Company, but you have been nominated by a shareholder of the Company to enjoy information rights, you do not have a right to appoint a proxy, although you may have a right to be appointed as a proxy, or to give instructions as to the exercise of voting rights. A proxy form lodged electronically will be invalid unless it is lodged at the electronic address specified in this paragraph.
DIRECTORS:
Jean-Paul Luksic (Chairman)
Manuel Lino Silva De Sousa-Oliveira ("Ollie Oliveira") (Non-Executive Director)
Gonzalo Menéndez (Non-Executive Director)
Ramón Jara (Non-Executive Director)
Juan Claro (Non-Executive Director)
William Hayes (Non-Executive Director)
Tim Baker (Non-Executive Director)
Andrónico Luksic (Non-Executive Director)
Vivianne Blanlot (Non-Executive Director)
Jorge Bande (Non-Executive Director)
Francisca Castro (Non-Executive Director)
ANTOFAGASTA.CO.UK
NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
DEAR SHAREHOLDER
ANNUAL GENERAL MEETING 2017
I am writing to inform you that the 2017 Annual General Meeting of the Company (the “AGM”) will be held at 10.00am on 24 May 2017 at Church House Westminster, Dean’s Yard, London SW1P 3NZ. The formal notice of the AGM and resolutions to be proposed are set out on pages 15 to 21.
The resolutions to be put to the AGM will address the following matters:
ANNUAL REPORT AND FINANCIAL STATEMENTS (RESOLUTION 1)
Shareholders will be asked to receive and adopt the Annual Report and Financial Statements (the “Annual Report”) of the Company for the year ended 31 December 2016, together with the reports of the directors and auditors thereon. The financial statements contained in the Annual Report comply with International Financial Reporting Standards.
REMUNERATION REPORT (RESOLUTION 2)
This resolution is to approve the Directors’ Remuneration Report (other than the part that contains the Remuneration Policy referred to in Resolution 3), which sets out how the Company’s remuneration policy (which was approved by shareholders at the 2014 annual general meeting) was applied during the year ended 31 December 2016. The Directors’ Remuneration Report is included on pages 96 to 111 of the Annual Report and has been prepared in accordance with the requirements of section 421 of the Companies Act 2006 (and regulations made under that section) and the UK Corporate Governance Code.
The vote upon this resolution is advisory. It is not specific to individual levels of remuneration and the Directors’ entitlement to remuneration is not conditional on it.
The full remuneration policy approved by shareholders at the 2014 annual general meeting can be found on the Remuneration and Talent Management section of the Company’s website at www.antofagasta.co.uk/investors/corporate-governance/board-committees.
REMUNERATION POLICY (RESOLUTION 3)
The Company is required to seek shareholder approval of the Directors’ remuneration policy at least every three years.
This resolution is to approve the 2017 Directors’ Remuneration Policy Report (the “Remuneration Policy”), which is included on pages 112 to 114 of the Annual Report. The vote on this resolution is binding and, if approved by shareholders, will supersede the remuneration policy approved by shareholders at the 2014 annual general meeting. The Remuneration Policy forms the second part of the Directors’ Remuneration Report and has been prepared in accordance with the requirements of section 421 of the Companies Act 2006 (and regulations made under that section).
Subject to shareholder approval, the Remuneration Policy will take effect from the end of the AGM with the intention that it will remain in place for three years. If the Company wishes to change the Remuneration Policy within that three-year period, it will submit a revised remuneration policy to shareholders for approval.
Once the Remuneration Policy is approved, the Company will only make remuneration payments to current or prospective Directors or payments for loss of office to current or past Directors if the payment is in line with the approved Remuneration Policy, or following specific approval by shareholder resolution. The Remuneration Policy will next be submitted to shareholders no later than the annual general meeting in 2020.
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
DECLARATION OF FINAL DIVIDEND (RESOLUTION 4)
This resolution is to declare a final dividend. If approved, a final dividend of 15.3 cents per ordinary share will be paid on 26 May 2017 to shareholders on the register at close of business on 28 April 2017. An interim dividend of 3.1 cents per ordinary share was paid on 30 September 2016. This gives total dividends per ordinary share proposed in relation to 2016 of 18.4 cents per share. The total amount of dividends to ordinary shareholders proposed in relation to 2016 will be US$181.4 million.
Dividends are paid gross without deduction of United Kingdom income tax. The Company is a resident in the United Kingdom for tax purposes.
RE-ELECTION OF ALL DIRECTORS (RESOLUTIONS 5 TO 15)
In accordance with Principle B.7 of the UK Corporate Governance Code, all the Directors are required to be subject to annual re-election by shareholders. At the AGM, Francisca Castro will stand for election by shareholders for the first time, following her appointment by the Board, which took effect on 1 November 2016. Each of the other Directors will stand for re-election by shareholders. The Board has confirmed that all of the Directors continue to perform effectively and demonstrate commitment to their roles.
Brief biographical details of all Directors are set out on pages 6 to 11.
Resolutions 6, 11, 13, 14 and 15 relate to the election or re-election of Ollie Oliveira, Tim Baker, Vivianne Blanlot, Jorge Bande and Francisca Castro, who are the Directors that meet all of the independence criteria set out in section B.1.1 of the UK Corporate Governance Code and who the Board has determined are independent directors for the purposes of the UK Corporate Governance Code (the "Independent Directors").
As the Company has a controlling shareholder, the election or re-election of the Independent Directors must be approved by a majority vote of both:
- the shareholders of the Company; and
- the independent shareholders of the Company (that is, each shareholder of the Company entitled to vote on the election of directors who is not a controlling shareholder of the Company).
Resolutions 6, 11, 13, 14 and 15 are therefore being proposed as ordinary resolutions on which all shareholders may vote. In addition, however, the Company will separately count the number of votes cast by independent shareholders in favour of each resolution (as a proportion of the total votes of independent shareholders cast on each resolution) to determine whether the threshold referred to in (2) above has been met. The Company will announce the results of these resolutions on this basis as well as announcing the results of the ordinary resolutions of all shareholders.
For these purposes, the votes controlled by the E. Abaroa Foundation (which is a controlling shareholder of the Company as it controls more than 30% of the voting rights in the Company) and of the other shareholders with whom it is acting in concert will therefore be excluded when calculating the votes of the independent shareholders as referred to in (2) above.
Under the Listing Rules, if a resolution to elect or re-elect an Independent Director is not approved by a majority vote of both the shareholders as a whole and the independent shareholders of the Company at the AGM, a further resolution may be put forward to be approved by the shareholders as a whole at a general meeting which must be held more than 90 days after the date of the first vote but within 120 days of the first vote. Accordingly, if any of resolutions 6, 11, 13, 14 and 15 is not approved by a majority vote of the Company's independent shareholders at the AGM, the relevant Independent Director(s) will be treated as having been re-elected only for the period from the date of the AGM until the earlier of (i) the close of any general meeting of the Company, convened for a date more than 90 days after the AGM but within 120 days of the AGM, to propose a further resolution to elect or re-elect him or her; (ii) the date which is 120 days after the AGM;
ANTOFAGASTA.CO.UK
NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
and (iii) the date of any announcement by the Board that it does not intend to hold a second vote. In the event that the Independent Director’s election or re-election is approved by a majority vote of all shareholders at a second meeting, the Independent Director will then be elected or re-elected until the next annual general meeting.
The Company is also required to provide details of (i) any previous or existing relationship, transaction or arrangement between an Independent Director and the Company, its Directors, any controlling shareholder or any associate of a controlling shareholder; (ii) why the Company considers the proposed Independent Director will be an effective director; (iii) how the Company has determined that the proposed Director is an independent director; and (iv) the process by which the Company has selected each Independent Director. All applicable details are provided for the Independent Directors as part of their respective biographies below.
The Company has received confirmation from each of the Independent Directors that, except as disclosed below, he or she has (or has had) no existing or previous relationship, transaction or arrangement with the Company, its Directors, any controlling shareholder or any associate of a controlling shareholder.
JEAN-PAUL LUKSIC
Jean-Paul Luksic is Chairman of the Company and Chairman of the Nomination and Governance Committee. He was appointed a Director in 1990 and has over 25 years’ experience with Antofagasta. Prior to his appointment as Executive Chairman in 2004 he was Chief Executive Officer of Antofagasta Minerals, in which capacity he oversaw the development of the Los Pelambres and El Tesoro (Centinela Cathodes) mines. He became Non-Executive Chairman in 2014. He is Chairman of the Consejo Minero, the industry body representing the largest mining companies operating in Chile, and is a non-executive director of Quiñenco S.A. and other listed companies in the Quiñenco group including Banco de Chile and Sociedad Matriz SAAM S.A. Jean-Paul Luksic will be 52 at the date of the AGM.
OLLIE OLIVEIRA
Ollie Oliveira was appointed a Non-Executive Director in 2011 and was appointed Senior Independent Director in 2016. He is Chairman of the Audit and Risk and Projects Committees and sits on the Nomination and Governance Committee. He is chartered accountant, management accountant and economist with over 35 years’ of strategic and operating experience in the mining industry and corporate finance. He held various senior executive positions within the Anglo American group, including Executive Director – Corporate Finance and Head of Strategy and Business Development of De Beers S.A. Ollie Oliveira will be 65 at the date of the AGM.
Effectiveness
Ollie Oliveira brings extensive knowledge of the mining sector.
Independence
Ollie Oliveira’s independence was determined by reference to the relevant provisions of the UK Corporate Governance Code. The Board is satisfied that Ollie Oliveira is independent in character and judgement and that there are no relationships or circumstances which are likely to affect, or could appear to affect, his judgement.
Selection
The process followed by the Company for Ollie Oliveira’s selection involved an introduction to the Chairman and subsequent interviews with the Nomination and Governance Committee. The Nomination and Governance Committee recommended the appointment of Ollie Oliveira to the Board and he became a Non-Executive Director on 28 October 2011.
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
GONZALO MENÉNDEZ
Gonzalo Menéndez was appointed a Non-Executive Director in 1985 and is a commercial engineer and economist with extensive experience in commercial and financial businesses across Latin America. He is a director of Quiñenco S.A. and other listed companies in the Quiñenco group including Banco de Chile. He is also Chairman of Banco Latinoamericano de Comercio Exterior S.A. (Bladex). Gonzalo Menéndez will be 68 at the date of the AGM.
RAMÓN JARA
Ramón Jara was appointed a Non-Executive Director in 2003. He is a member of the Projects Committee and is a lawyer with considerable legal and commercial experience in Chile. He is Chairman of the Fundación Minera Los Pelambres and a director of the Fundación Andrónico Luksic A., which are charitable foundations in Chile. Ramón Jara will be 64 at the date of the AGM.
JUAN CLARO
Juan Claro was appointed a Non-Executive Director in 2005. He sits on the Sustainability and Stakeholder Management Committee, has extensive industrial experience in Chile, and has played an active role in the representation of Chilean industrial interests nationally and internationally. He is a former Chairman of the Sociedad de Fomento Fabril (Chilean Society of Industrialists), the Confederación de la Producción y del Comercio (Confederation of Chilean Business) and the Consejo Binacional de Negocios Chile-China (Council for Bilateral Business Chile-China). He is currently Chairman of Coca-Cola Andina S.A. and Energía Coyanco S.A., and is a director of several other companies in Chile, including Empresas Cementos Melon and Agrosuper. He is also a member of the governing board of Centro de Estudios Públicos, a non-profit Chilean academic foundation. Juan Claro will be 66 at the date of the AGM.
WILLIAM HAYES
William Hayes was appointed a Non-Executive Director in 2006 and was Senior Independent Director from 2011 until 2016. He sits on the Sustainability and Stakeholder Management Committee. He has extensive financial and operating experience in the copper and gold mining industries, in Chile, Latin America, North America and South Africa. He was previously a senior executive with Placer Dome Inc., is a former Chairman of the Consejo Minero, the industry body representing the largest mining companies operating in Chile, and former Chairman of the Gold Institute in Washington, DC. He is Chairman of Royal Gold Inc. William Hayes will be 72 at the date of the AGM.
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NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
TIM BAKER
Tim Baker was appointed a Non-Executive Director in 2011. He is Chairman of the Remuneration and Talent Management Committee and sits on the Nomination and Governance and Projects Committees. He is a geologist with significant mining operations experience across North and South America and Africa. He was previously vice-president and chief operating officer at Kinross Gold Corporation, and prior to that was general manager of Placer Dome Chile. He has previously managed mining operations in Chile, the United States, Tanzania and Venezuela and held geological and operating roles in Kenya and Liberia. He is Chairman of Golden Star Resources, and a director of Sherritt International Corporation and Rye Patch Gold Corporation. Tim Baker will be 65 at the date of the AGM.
Effectiveness
Tim Baker brings an extensive knowledge of the mining industry both in Latin America and across the globe.
Independence
Tim Baker’s independence was determined by reference to the relevant provisions of the UK Corporate Governance Code. The Board is satisfied that Tim Baker is independent in character and judgement and that there are no relationships or circumstances which are likely to affect, or could appear to affect, his judgement.
Selection
The process followed by the Company for Tim Baker’s selection involved an introduction to the Chairman and subsequent interviews with the Nomination and Governance Committee. The Nomination and Governance Committee recommended the appointment of Tim Baker to the Board and he became a Non-Executive Director on 1 March 2011.
ANDRÓNICO LUKSIC
Andrónico Luksic was appointed a Non-Executive Director in 2013. He has extensive experience across a range of business sectors throughout Chile, Latin America and Europe. He is Chairman of Quiñenco S.A. and Compañía Cervecerías Unidas S.A., Vice-Chairman of Banco de Chile and Compañía Sudamericana de Vapores S.A., and a director of Tech Pack S.A., all of which are listed companies in the Quiñenco group. He is also a director of Nexans S.A., a company listed on NYSE Euronext Paris. Andrónico Luksic will be 63 at the date of the AGM.
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
VIVIANNE BLANLOT
Vivianne Blanlot was appointed a Non-Executive Director in 2014. She is Chairman of the Sustainability and Stakeholder Management Committee and sits on the Audit and Risk and Remuneration and Talent Management Committees. She is an economist with extensive experience across the energy, mining, water and environmental sectors in the public and private sectors in Chile. She served as Executive Director of Comisión Nacional de Medio Ambiente (the Environmental Agency in Chile), Undersecretary of Comisión Nacional de Energía (National Energy Commission in Chile) and Minister of Defence, among other positions. Vivianne Blanlot is currently a non-executive director of Colbún S.A., an energy company listed on the Santiago stock exchange and ScotiaBank Chile. She is also a member of Consejo Para La Transparencia (the Transparency Council), the Chilean body responsible for enforcing transparency in the public sector. Vivianne Blanlot will be 62 at the date of the AGM.
Effectiveness
Vivianne Blanlot brings extensive experience across the energy, mining, water and environmental sectors.
Independence
Vivianne Blanlot’s independence was determined by reference to the relevant provisions of the UK Corporate Governance Code. The Board is satisfied that Vivianne Blanlot continues to be independent in character and judgement and that there are no relationships or circumstances which are likely to affect, or could appear to affect, her judgement.
Selection
The process followed by the Company for Vivianne Blanlot’s selection involved the engagement of external recruitment consultants, Egon Zehnder, the global executive search firm, who conducted a thorough search and identified a number of high-quality candidates. The Nomination and Governance Committee recommended the appointment of Vivianne Blanlot to the Board and she became a Non-Executive Director on 27 March 2014.
Relationships
From June 2014 until July 2015, Vivianne Blanlot and Jorge Bande were both directors of the Chilean Institute of Rational Business Administration (ICARE), a private, not-for-profit organisation whose mission is to promote the principles, values and concepts underlying the development of enterprise and private initiatives as an agent of national progress.
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NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
JORGE BANDE
Jorge Bande was appointed a Non-Executive Director in 2014. He sits on the Audit and Risk, Sustainability and Stakeholder Management and Projects Committees. He is an economist with over 30 years' experience in the mining industry. He co-founded the Centre for Copper and Mining Studies (CESCO), an independent not-for-profit think tank focused on mining policy issues. He was Vice President of Development at, and later a director of, Codelco, CEO of AMP Chile and has advised the World Bank as a Consultant. He was also a member of the Global Agenda Council for Responsible Minerals Resource Management at the World Economic Forum, is a professor of the International Post-Graduate Programme in Mineral Economics at the University of Chile, and is a member of the Experts Committee for Copper Prices for the Chilean Ministry of Finance.
He is currently a director of CESCO and Inversiones Aguas Metropolitanas S.A.. He was previously a director of a number of other Chilean and international companies including Edelnor S.A., Electroandina S.A. (now E-CL S.A.) and Bupa Chile S.A. Jorge Bande will be 64 at the date of the AGM.
Effectiveness
Jorge Bande brings considerable experience across the mining, energy and water industries.
Independence
Jorge Bande's independence was determined by reference to the relevant provisions of the UK Corporate Governance Code. The Board is satisfied that Jorge Bande continues to be independent in character and judgement and that there are no relationships or circumstances which are likely to affect, or could appear to affect, his judgement.
Selection
The process followed by the Company for Jorge Bande's selection involved the engagement of external recruitment consultants, Spencer Stuart, the global executive search firm, who conducted a thorough search and identified a number of high-quality candidates. The Nomination and Governance Committee recommended the appointment of Jorge Bande to the Board and he became a Non-Executive Director on 17 December 2014.
Relationships
As explained on page 9, Jorge Bande and Vivianne Blanlot were both directors of ICARE from June 2014 until July 2015.
From April to December 2014, Jorge Bande and Ramón Jara were both directors of Empresa Nacional del Petroleo (ENAP), a Chilean state-owned company. Jorge Bande was representing CORFO, the State Development Corporation as a director of ENAP and Ramón Jara was representing SONAMI, the Chilean Mining Association.
In 1995, AMP, one of Australia's largest institutional investors, through its subsidiary Equatorial Mining Limited (EQM), entered into a joint venture with Antofagasta to develop the El Tesoro project. As a result, EQM held a 39% interest in El Tesoro through a Chilean subsidiary, CCM Leonor, until 2006 when Antofagasta acquired EQM. At various stages from 1995 to 2006, Jorge Bande was a director of EQM and El Tesoro (as an EQM representative), and President and General Manager of CCM Leonor.
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
ANTOFAGASTA.CO.UK
FRANCISCA CASTRO
Francisca Castro was appointed as a Non-Executive Director by the Board on 25 October 2016. She sits on the Audit and Risk and Remuneration and Talent Management Committees. She is a commercial engineer with over 25 years' experience in several industries, including mining, energy, finance and public/private infrastructure projects in the USA and in Chile. Prior to her appointment to Antofagasta's Board, Mrs. Castro spent eight years at Codelco, most recently leading the company's Business Development function. Before joining Codelco she spent 10 years working in various roles in the Chilean Government. Mrs. Castro began her career at the World Bank where she was based in Washington DC for five years. Francisca Castro will be 54 at the date of the AGM.
Effectiveness
Francisca Castro brings extensive knowledge and experience across the mining, energy and finance sectors. The Board is satisfied that Francisca Castro will perform effectively and demonstrate commitment to the role.
Independence
Francisca Castro's independence was determined by reference to the relevant provisions of the UK Corporate Governance Code. The Board is satisfied that Francisca Castro is independent in character and judgement and that there are no relationships or circumstances which are likely to affect, or could appear to affect, her judgement.
Selection
The process followed by the Company for Francisca Castro's selection involved the engagement of external recruitment consultants, Intertrust Head Hunting, an executive search firm based in Santiago, Chile, who conducted a thorough search and identified a number of high quality candidates. The Nomination and Governance Committee recommended the appointment of Francisca Castro to the Board and she became a Non-Executive Director with effect from 1 November 2016.
RE-APPOINTMENT OF AUDITORS AND AUDITORS' REMUNERATION (RESOLUTIONS 16 AND 17)
The Company is required at each general meeting at which financial statements are presented to appoint auditors to hold office until the end of the next such meeting. The Company conducted a tender process in 2014 for external audit services to be carried out following the 2015 annual general meeting and PricewaterhouseCoopers LLP ("PwC") was appointed by shareholders at the 2015 annual general meeting. PwC has indicated its willingness to be re-appointed to this office. Accordingly, Resolution 16 re-appoints PwC as auditors to the Company and Resolution 17 authorises the Audit and Risk Committee (for and on behalf of the Board) to fix the remuneration of the auditors.
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NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
AUTHORITY TO ALLOT (RESOLUTION 18)
The Companies Act 2006 prevents the Directors from allotting unissued shares of the Company unless they are authorised to do so by the shareholders in a general meeting or by the Articles of Association.
The guidelines issued by The Investment Association on directors' authority to allot shares state that its members will permit, and treat as routine, resolutions seeking authority to allot shares representing up to two-thirds of the Company's issued share capital. The guidelines provide that any routine authority to allot shares representing in excess of one-third of the Company's issued share capital should only be used to allot shares pursuant to a fully pre-emptive rights issue.
In Resolution 18, in accordance with these guidelines and in line with the equivalent resolution passed at the Company's 2016 annual general meeting, the Directors are again seeking authority to allot shares in the capital of the Company up to a maximum nominal amount of £32,861,890 (representing 657,237,800 ordinary shares of 5p each), which represented the Investment Association's guidelines limit of approximately two-thirds of the Company's issued ordinary share capital as at 10 March 2017 (being the last business day prior to the date of this notice). Of this amount, £16,430,945 (representing 328,618,900 ordinary shares of 5p each), which represented approximately one-third of the Company's issued ordinary share capital as at 10 March 2017, can only be allotted pursuant to a rights issue.
The authority will last until the earlier of 30 June 2018 (the last date by which the Company must hold an annual general meeting in 2018) and the conclusion of the annual general meeting of the Company to be held in 2018. The Directors have no present intention to exercise either of the authorities sought under this resolution.
As at 10 March 2017 (being the last business day prior to the date of this notice), no ordinary shares are held by the Company in treasury and the issued ordinary share capital of the Company has not changed since 11 March 2016.
POWER OF THE COMPANY TO ISSUE SHARES OTHER THAN PRO RATA TO ITS EXISTING SHAREHOLDERS (RESOLUTIONS 19 AND 20)
The Companies Act 2006 prevents the Directors from issuing equity securities of the Company for cash other than pro rata to ordinary shareholders unless they are empowered to do so by special resolution or by the Articles of Association. Resolutions 19 and 20, which are proposed as special resolutions, would give the Directors the authority to allot ordinary shares or other equity securities (or sell any ordinary shares which the Company elects to hold in treasury) for cash without first offering them to existing shareholders in proportion to their existing shareholdings.
The authority in Resolution 19 would be limited to allotments or sales in connection with pre-emptive offers and offers to holders of other equity securities if required by the rights of those shares (subject to the right of the Board to impose necessary or appropriate limitations to deal with, for example, fractional entitlements and regulatory matters), or otherwise up to an aggregate nominal amount of £2,464,641 (representing 49,292,820 ordinary shares). This aggregate nominal amount represents slightly less than 5% of the issued ordinary share capital of the Company as at 10 March 2017 (being the last business day prior to the date of this notice).
The authority in Resolution 20 would be limited to allotments or sales in connection with the financing (or refinancing, if the authority is to be used within six months after the original transaction) of an acquisition or specified capital investment which is announced contemporaneously with the allotment or which has taken place in the preceding six month period and is disclosed in the announcement of the allotment. The authority under Resolution 19 is limited to a nominal value of £2,464,641 (representing 49,292,820 ordinary shares). This aggregate nominal amount represents slightly less than 5% of the issued ordinary share capital of the Company as at 10 March 2017 (being the last business day prior to the date of this notice).
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
The authorities in Resolutions 19 and 20 comply with the Investment Association's share capital management guidelines and are in line with the Pre-emption Group's Statement of Principles, as updated in March 2015 (the "Statement of Principles") and follow the resolution templates issued by the Pre-Emption Group in May 2016.
In exercising the authority in Resolution 19, the Board intends to adhere to the provisions in the Statement of Principles and not to allot shares for cash on a non pre-emptive basis pursuant to the authority in paragraph (B) of Resolution 19:
(A) in excess of an amount equal to 5% of the issued ordinary share capital of the Company (excluding any treasury shares); or
(B) in excess of an amount equal to 7.5% of the issued ordinary share capital of the Company (excluding any treasury shares) within a rolling three-year period, without prior consultation with shareholders.
Adherence to the Statement of Principles would not preclude issuances under the authority in Resolution 20.
These authorities will expire at the earlier of 30 June 2018 (the last date by which the Company must hold an AGM in 2018) and the conclusion of the annual general meeting of the Company to be held in 2018.
POWER OF THE COMPANY TO PURCHASE ITS OWN SHARES (RESOLUTION 21)
At the 2016 Annual General Meeting, the Company was granted authority to purchase up to 98,585,669 of its own ordinary shares (which represented 10% of the issued ordinary share capital of the Company).
The Directors now propose that this authority should be renewed.
The Directors believe that it is in the best interests of the shareholders that the Company has the flexibility to make market purchases of ordinary shares. The Directors intend to exercise this power only when, in the light of market conditions prevailing at the time, they believe that the effect of such purchases will be to increase earnings per share and is in the best interests of shareholders generally. Any ordinary shares purchased in this way will either be cancelled or held in treasury. The resolution, which is proposed as a special resolution, specifies not only the maximum number of ordinary shares that the Company may acquire, but also the maximum and minimum prices at which they may be bought. The authority is intended to last until the earlier of 30 June 2018 (the last date by which the Company must hold an annual general meeting in 2018) and the conclusion of the annual general meeting of the Company to be held in 2018. It is the Directors' intention to renew such authority at each further annual general meeting of the Company.
At 10 March 2017 (being the last business day prior to the date of this notice), the Company had no warrants or options to subscribe for equity shares outstanding.
NOTICE OF GENERAL MEETINGS (RESOLUTION 22)
The Companies Act 2006 provides that all general meetings (except annual general meetings) must be held on 21 days' notice unless shareholders agree on an annual basis to a shorter notice period. A resolution to allow the Company to hold general meetings (other than annual general meetings) on 14 days' notice has been passed at each annual general meeting since this provision came into effect. This resolution, which is proposed as a special resolution, will renew the approval of the shorter notice period.
The shorter notice period would not be used as a matter of routine for general meetings, but only where the flexibility is merited by the business of the meeting and is thought to be to the advantage of shareholders as a whole. The approval will be effective until the annual general meeting to be held in 2018, when it is intended that a similar resolution will be proposed.
In order to be able to call a general meeting on less than 21 clear days' notice, the Company must make a means of electronic voting available to all shareholders for that meeting in accordance with the Companies Act 2006.
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NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
ACTION TO BE TAKEN
You will find enclosed a form of proxy for use at the AGM. Please complete, sign and submit the enclosed form as soon as possible in accordance with the instructions printed on it, whether or not you intend to be present at the AGM. The form of proxy should be deposited (or submitted electronically at www.investorcentre.co.uk/eproxy) with the registrars of the Company, Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol BS99 6ZY, as soon as possible, but in any event no later than 10.00am on 22 May 2017.
CREST members wishing to use the CREST electronic appointment service are referred to Note 5 of the Notice of AGM on page 19. Completion of a form of proxy will not prevent you from attending in person and voting at the relevant meeting should you subsequently decide to do so. A proxy form lodged electronically will be invalid unless it is lodged at the electronic address specified in this paragraph.
RECOMMENDATION
Your Directors consider that the proposals described in this letter are in the best interests of shareholders as a whole and unanimously recommend shareholders to vote in favour of the resolutions to be proposed at the AGM.
Yours sincerely
JEAN-PAUL LUKSIC
Chairman
13 March 2017
INSPECTION OF DOCUMENTS
Copies of the letters of appointment for, and contracts of services with, Directors will be available for inspection at:
- the Company's registered office at Cleveland House, 33 King Street, London SW1Y 6RJ from the date this circular is dispatched to shareholders until the end of the AGM; and
- Church House Westminster, Dean's Yard, London SW1P 3NZ from 15 minutes before the AGM until the end of that meeting.
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
ANTOFAGASTA PLC
Notice is hereby given that the 2017 Annual General Meeting (the "meeting") of the Company will be held at Church House Westminster, Dean's Yard, London SW1P 3NZ on 24 May 2017 at 10.00am for the following purposes:
ORDINARY RESOLUTIONS
To consider and, if thought fit, pass the following ordinary resolutions:
- to receive and adopt the accounts and the reports of the directors and of the auditors for the year ended 31 December 2016;
- to approve the Directors' Remuneration Report (excluding the Directors' Remuneration Policy Report) for the year ended 31 December 2016;
- to approve the 2017 Directors' Remuneration Policy Report, the full text of which is set out in the Directors' Remuneration Report for the year ended 31 December 2016;
- to declare a final dividend;
- to re-elect Jean-Paul Luksic as a Director;
- to re-elect Ollie Oliveira as a Director;
- to re-elect Gonzalo Menéndez as a Director;
- to re-elect Ramón Jara as a Director;
- to re-elect Juan Claro as a Director;
- to re-elect William Hayes as a Director;
- to re-elect Tim Baker as a Director;
- to re-elect Andrónico Luksic as a Director;
- to re-elect Vivianne Blanlot as a Director;
- to re-elect Jorge Bande as a Director;
- to elect Francisca Castro as a Director;
- to re-appoint PricewaterhouseCoopers LLP as auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next general meeting at which the accounts are laid before the Company;
- to authorise the Audit and Risk Committee for and on behalf of the Board to fix the remuneration of the auditors; and
ANTOFAGASTA.CO.UK
NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
- THAT, in substitution for all existing authorities, the Directors be generally and unconditionally authorised in accordance with section 551 of the Companies Act 2006 to exercise all the powers of the Company to allot shares (as defined in section 540 of the Companies Act 2006) in the Company or grant rights to subscribe for or to convert any security into shares in the Company:
(A) up to an aggregate nominal amount of £16,430,945; and
(B) comprising equity securities (as defined in section 560(1) of the Companies Act 2006) up to a further aggregate nominal amount of £16,430,945 in connection with an offer by way of a rights issue,
such authorities to apply until the end of the Company's next annual general meeting to be held in 2018 (or, if earlier, until the close of business on 30 June 2018) but, in each case, so that the Company may make offers and enter into agreements before the authority expires which would, or might, require shares to be allotted or rights to subscribe for or to convert any security into shares to be granted after the authority expires; and the Directors may allot shares or grant such rights under any such offer or agreement as if the authority had not expired. References in this Resolution 18 to the nominal amount of rights to subscribe for or to convert any security into shares (including where such rights are referred to as equity securities as defined in section 560(1) of the Companies Act 2006) are to the nominal amount of shares that may be allotted pursuant to the rights.
For the purposes of this Resolution 18, "rights issue" means an offer:
(i) to ordinary shareholders in proportion (as nearly as may be practicable) to their existing holdings; and
(ii) to holders of other equity securities (as defined in section 560(1) of the Companies Act 2006) as required by the rights of those securities or, subject to such rights, as the Directors otherwise consider necessary,
to subscribe for further securities by means of the issue of a renounceable letter (or other negotiable document) which may be traded for a period before payment for the securities due, including an offer to which the Directors have imposed any limits or restrictions or made any arrangements which they consider necessary or appropriate to deal with treasury shares, fractional entitlements, record dates, legal, regulatory or practical problems in, or under the laws of, any territory or any other matter.
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
SPECIAL RESOLUTIONS
To consider and, if thought fit, pass the following special resolutions:
- THAT, in substitution for all existing powers and subject to the passing of Resolution 18, the Directors be generally empowered pursuant to section 570 of the Companies Act 2006 to allot equity securities (as defined in section 560(1) of the Companies Act 2006) for cash pursuant to the authority granted by Resolution 18 and/or pursuant to section 573 of the Companies Act 2006 to sell ordinary shares held by the Company as treasury shares for cash, in each case free of the restriction in section 561 of the Companies Act 2006, such power to be limited:
(A) to the allotment of equity securities and/or sale of treasury shares for cash in connection with an offer of, or invitation to apply for, equity securities (but in the case of an allotment pursuant to the authority granted by paragraph (B) of Resolution 18, such power shall be limited to the allotment of equity securities in connection with an offer by way of a rights issue only):
(i) to ordinary shareholders in proportion (as nearly as may be practicable) to their existing holdings; and
(ii) to holders of other equity securities (as defined in section 560(1) of the Companies Act 2006), as required by the rights of those securities or, subject to such rights, as the Directors otherwise consider necessary,
and so that the Directors may impose any limits or restrictions and make any arrangements which they consider necessary or appropriate to deal with treasury shares, fractional entitlements, record dates, legal, regulatory or practical problems in, or under the laws of, any territory or any other matter; and
(B) to the allotment of equity securities pursuant to the authority granted by paragraph (A) of Resolution 18 and/or sale of treasury shares for cash (in each case otherwise than in the circumstances set out in paragraph (A) of this Resolution 19) up to a nominal amount of £2,464,641 calculated, in the case of equity securities which are rights to subscribe for, or to convert securities into, ordinary shares by reference to the aggregate nominal amount of relevant shares which may be allotted pursuant to such rights,
such power to apply until the end of the Company's next annual general meeting to be held in 2018 (or, if earlier, until the close of business on 30 June 2018) but, in each case, so that the Company may make offers and enter into agreements before the power expires which would, or might, require equity securities to be allotted (or treasury shares to be sold) after the power expires and the Directors may allot equity securities (and/or sell treasury shares) under any such offer or agreement as if the power hereby conferred had not expired.
For the purposes of this Resolution 19, "rights issue" has the same meaning as in Resolution 18 above.
- That, in addition to any power granted under Resolution 19, and subject to the passing of Resolution 18, the directors be generally empowered pursuant to section 570 of the Companies Act 2006 to allot equity securities (as defined in section 560(1) of the Companies Act 2006) for cash pursuant to the authority granted by Resolution 18 and/or pursuant to section 573 of the Companies Act 2006 to sell ordinary shares held by the Company as treasury shares for cash, in each case free of the restriction in section 561 of the Companies Act 2006, such power to be:
(A) limited to the allotment of equity securities and/or sale of treasury shares for cash up to an aggregate nominal amount of £2,464,641 calculated, in the case of equity securities which are rights to subscribe
ANTOFAGASTA.CO.UK
NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
for, or to convert securities into, ordinary shares by reference to the aggregate nominal amount of relevant shares which may be allotted pursuant to such rights; and
(B) used only for the purposes of financing (or refinancing, if the authority is to be used within six months after the original transaction) a transaction which the Directors determine to be an acquisition or other capital investment of a kind contemplated by the Statement of Principles on Disapplying Pre-Emption Rights most recently published by the Pre-Emption Group prior to the date of this notice,
such power to apply until the end of the Company's next annual general meeting to be held in 2018 (or, if earlier, until the close of business on 30 June 2018) but, in each case, so that the Company may make offers and enter into agreements before the power expires which would, or might, require equity securities to be allotted or rights to subscribe for or to convert any security into shares to be granted (or treasury shares to be sold) after the power expires and the Directors may allot equity securities or grant such rights (or sell treasury shares) under any such offer or agreement as if the power hereby conferred had not expired.
- THAT the Company be generally and unconditionally authorised to make one or more market purchases (within the meaning of section 693(4) of the Companies Act 2006) of ordinary shares of 5p in the capital of the Company ("Ordinary Shares") provided that:
(A) the maximum aggregate number of Ordinary Shares authorised to be purchased is 98,585,669 (representing 10% of the issued ordinary share capital);
(B) the minimum price (excluding expenses) which may be paid for an Ordinary Share is 5p;
(C) the maximum price (excluding expenses) which may be paid for an Ordinary Share shall be the higher of (1) an amount equal to 105% of the average of the middle market quotations for an Ordinary Share as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which that Ordinary Share is purchased and (2) the higher of the price of the last independent trade and the highest current independent bid for an Ordinary Share on the trading venue where the purchase is carried out;
(D) this authority expires at the conclusion of the next annual general meeting of the Company to be held in 2018 or at the close of business on 30 June 2018, whichever is earlier; and
(E) the Company may make a contract to purchase Ordinary Shares under this authority before the expiry of the authority which will or may be executed wholly or partly after the expiry of the authority, and may make a purchase of Ordinary Shares in pursuance of any such contract.
- THAT a general meeting of the Company, other than an annual general meeting, may be called on not less than 14 clear days' notice.
By Order of the Board
JULIAN ANDERSON
Company Secretary
13 March 2017
Cleveland House
33 King Street
London SW1Y 6RJ
Registered in England and Wales Company No. 1627889
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
NOTES – GENERAL INFORMATION
-
A shareholder of the Company is entitled to appoint a proxy to exercise all or any of his/her rights to attend, speak and vote on their behalf at the meeting of the Company. A proxy need not be a shareholder of the Company. A shareholder may appoint more than one proxy in relation to the meeting, provided that each proxy is appointed to exercise the rights attached to different shares held by that shareholder. A proxy form which may be used to make such an appointment and give proxy instructions accompanies this notice. If you do not have a proxy form and believe that you should have one, or if you require additional forms, please contact the registrars of the Company, Computershare Investor Services PLC on +44 (0)370 702 0159.
-
To be valid, the purple-striped (or, for preference shareholders, blue-striped) form of proxy and the Power of Attorney or other authority, if any, under which it is signed or a notarially certified copy thereof, must be deposited (or submitted electronically at www.investorcentre.co.uk/eproxy) with the registrars of the Company, Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol BS99 6ZY, no later than 10.00am on 22 May 2017. Completion and return of the form of proxy (or any CREST Proxy Instructions (as described in Note 5 below)) will not preclude a shareholder from attending and voting in person at the meeting if he/she wishes to do so.
A proxy form lodged electronically will be invalid unless it is lodged at the electronic address specified in this Note 2.
-
Any person to whom this notice is sent who is a person nominated under section 146 of the Companies Act 2006 to enjoy information rights (a "Nominated Person") may, under an agreement between him/her and the shareholder by whom he/she was nominated, have a right to be appointed (or to have someone else appointed) as a proxy for the meeting. If a Nominated Person has no such proxy appointment right or does not wish to exercise it, he/she may, under any such agreement, have a right to give instructions to the shareholder as to the exercise of voting rights.
-
The statement of rights of shareholders in relation to the appointment of proxies in Notes 1 and 2 above does not apply to Nominated Persons. The rights described in these notes can only be exercised by a shareholder of the Company.
-
CREST members who wish to appoint a proxy or proxies through the CREST electronic proxy appointment service may do so by using the procedures described in the CREST Manual (available via www.euroclear.com/CREST). CREST Personal Members or other CREST sponsored members, and those CREST members who have appointed a service provider(s), should refer to their CREST sponsor or voting service provider(s), who will be able to take the appropriate action on their behalf.
In order for a proxy appointment or instruction made using the CREST service to be valid, the appropriate CREST message (a "CREST Proxy Instruction") must be properly authenticated in accordance with Euroclear UK & Ireland Limited's specifications and must contain the information required for such instruction, as described in the CREST Manual (available via www.euroclear.com/CREST).
The message, regardless of whether it constitutes the appointment of a proxy or is an amendment to the instruction given to a previously appointed proxy must, in order to be valid, be transmitted so as to be received by the Company's agent (ID 3RA50) by the latest time(s) for receipt of proxy appointments specified in the notice of meeting. For this purpose, the time of receipt will be taken to be the time (as determined by the timestamp applied to the message by the CREST Application Host) from which the Company's agent is able to retrieve the message by enquiry to CREST in the manner prescribed by CREST. After this time, any change of instructions to proxies appointed through CREST should be communicated to the appointee through other means.
ANTOFAGASTA.CO.UK
NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
CREST members and, where applicable, their CREST sponsors or voting service providers should note that Euroclear UK & Ireland Limited does not make available special procedures in CREST for any particular message. Normal system timings and limitations will, therefore, apply in relation to the input of CREST Proxy Instructions. It is the responsibility of the CREST member concerned to take (or, if the CREST member is a CREST personal member or sponsored member or has appointed a voting service provider(s), to procure that his/her CREST sponsor or voting service provider(s) take(s)) such action as shall be necessary to ensure that a message is transmitted by means of the CREST system by any particular time. In this connection, CREST members and, where applicable, their CREST sponsors or voting service providers are referred, in particular, to those sections of the CREST Manual concerning practical limitations of the CREST system and timings.
The Company may treat as invalid a CREST Proxy Instruction in the circumstances set out in Regulation 35(5)(a) of the Uncertificated Securities Regulations 2001.
-
To be entitled to attend and vote at the meeting (and for the purposes of determination by the Company of the votes they may cast), shareholders must be registered in the Register of Members of the Company at 6:00pm on 22 May 2017 (or, in the event of an adjournment, on the date which is two days before the time of the adjourned meeting). Changes to the Register of Members after the relevant deadline will be disregarded in determining the rights of any person to attend or vote at the meeting.
-
All resolutions at the AGM will be decided by a poll. On a poll, shareholders' votes are counted according to the number of shares held, ensuring an exact result.
-
Under section 527 of the Companies Act 2006, shareholders meeting the threshold requirements set out in that section have the right to require the Company to publish on a website a statement setting out any matter relating to: (i) the audit of the Company's accounts (including the auditor's report and the conduct of the audit) that are to be laid before the meeting; or (ii) any circumstance connected with an auditor of the Company ceasing to hold office since the previous meeting at which annual accounts and reports were laid in accordance with section 437 of the Companies Act 2006. The Company may not require the shareholders requesting any such website publication to pay its expenses in complying with section 527 or section 528 of the Companies Act 2006. Where the Company is required to place a statement on a website under section 527 of the Companies Act 2006, it must forward the statement to the Company's auditor not later than the time when it makes the statement available on the website. The business which may be dealt with at the meeting includes any statement that the Company has been required under section 527 of the Companies Act 2006 to publish on a website.
-
Any shareholder attending the meeting has the right to ask questions. The Company must cause to be answered any such question relating to the business being dealt with at the meeting but no such answer need be given if:
(A) to do so would interfere unduly with the preparation for the meeting or involve the disclosure of confidential information;
(B) the answer has already been given on a website in the form of an answer to a question; or
(C) it is undesirable in the interests of the Company or the good order of the meeting that the question be answered.
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
-
A copy of this notice, and other information required by section 311A of the Companies Act 2006, can be found at www.antofagasta.co.uk.
-
Under section 338 and section 338A of the Companies Act 2006, shareholders meeting the threshold requirements in those sections have the right to require the Company (i) to give, to shareholders of the Company entitled to receive notice of the meeting, notice of a resolution which may properly be moved and is intended to be moved at the meeting and/or (ii) to include in the business to be dealt with at the meeting any matter (other than a proposed resolution) which may be properly included in the business. A resolution may properly be moved or a matter may properly be included in the business unless (a) (in the case of a resolution only) it would, if passed, be ineffective (whether by reason of inconsistency with any enactment or the Company's constitution or otherwise), (b) it is defamatory of any person, or (c) it is frivolous or vexatious. Such a request may be in hard copy form or in electronic form, must identify the resolution of which notice is to be given or the matter to be included in the business, must be authorised by the person or persons making it, must be received by the Company not later than 10 April 2017, being the date six clear weeks before the meeting, and (in the case of a matter to be included in the business only) must be accompanied by a statement setting out the grounds for the request.
-
At 10 March 2017 (being the last business day prior to the date of this notice), the issued share capital of the Company consisted of 985,856,695 ordinary shares carrying one vote each and 2,000,000 5% cumulative preference shares carrying 100 votes each on a poll. Therefore, the total voting rights in the Company as at 10 March 2017 were 1,185,856,695.
ANTOFAGASTA.CO.UK
21
NOTICE OF ANNUAL GENERAL MEETING
24 MAY 2017
ANNUAL GENERAL MEETING
The Annual General Meeting will be held at Church House Westminster, Dean's Yard, London SW1P 3NZ at 10.00am on Wednesday, 24 May 2017. The formal notice of the Annual General Meeting and resolutions to be proposed are set out on pages 15 to 21.
LONDON STOCK EXCHANGE LISTING AND SHARE PRICE
The Company's ordinary shares are listed on the London Stock Exchange ("LSE").
The following table shows the highest and lowest closing market quotations for Antofagasta plc ordinary shares on the LSE during 2016, the opening market quotation as at 4 January 2016 (the first trading day) and the closing market quotation as at 30 December 2016 (the last trading day):
| 30 December 2016 (last trading day) | 675p |
|---|---|
| 2016 – high | 775p |
| 2016 – low | 346p |
| 4 January 2016 (first trading day) | 446p |
SHAREHOLDER CALENDAR 2017
| 26 April 2017 | Q1 2017 Production Report |
|---|---|
| 27 April 2017 | 2016 Final Dividend – Ex Dividend date |
| 28 April 2017 | 2016 Final Dividend – Record date |
| 2 May 2017 | 2016 Final Dividend – Final date for receipt of Currency Elections |
| 5 May 2017 | 2016 Final Dividend – Pound Sterling/Euro Rate set |
| 24 May 2017 | Annual General Meeting |
| 26 May 2017 | 2016 Final Dividend – Payment date |
| 26 July 2017 | Q2 2017 Production Report |
| 22 August 2017 | HY 2017 Results Announcement |
| 7 September 2017 | 2017 Interim Dividend – Ex Dividend date |
| 8 September 2017 | 2017 Interim Dividend – Record date |
| 11 September 2017 | 2017 Interim Dividend – Final date for receipt of Currency Elections |
| 14 September 2017 | 2017 Interim Dividend – Pound Sterling/Euro Rate set |
| 6 October 2017 | 2017 Interim Dividend – Payment date |
| 25 October 2017 | Q3 2017 Production Report |
| 24 January 2018 | Q4 2017 Production Report |
Dates are provisional and subject to change.
ANTOFAGASTA PLC NOTICE OF ANNUAL GENERAL MEETING
ANTOFAGASTA.CO.UK
23
DIVIDENDS
Details of dividends proposed in relation to the year are given in the Directors' Report on page 117 of the Annual Report, and in Note 13 to the Financial Statements.
If approved at the Annual General Meeting, the final dividend of 15.3 cents will be paid on 26 May 2017 to ordinary shareholders that are on the register at the close of business on 28 April 2017. Shareholders can elect (on or before 2 May 2017) to receive this final dividend in US dollars, Sterling or Euro, and the exchange rate, which will be applied to final dividends to be paid in Sterling or Euro, will be set as soon as reasonably practicable after that date which is currently anticipated to be on 5 May 2017.
Further details of the currency election timing and process (including the default currency of payment) are available on the Antofagasta plc website (www.antofagasta.co.uk) or from the Company's registrar, Computershare Investor Services PLC on +44 37 0702 0159.
Dividends are paid gross without deduction of United Kingdom income tax. Antofagasta plc is a resident in the United Kingdom for tax purposes.
WEBSITE
Antofagasta plc's annual and half-yearly financial reports, press releases and other presentations are available on the Group's website at www.antofagasta.co.uk.
REGISTERED OFFICE
Cleveland House
33 King Street
London SW1Y 6RJ
United Kingdom
Tel: +44 (0) 20 7808 0988
SANTIAGO OFFICE
Antofagasta Minerals S.A.
Av. Apoquindo 4001 – Piso 18
Las Condes, Santiago, Chile
Tel: +562 2798 7000
REGISTERED NUMBER
1627889
ELECTRONIC COMMUNICATION
Shareholders may elect to receive communications from the Company electronically via email and the internet. Electronic communication provides a saving in terms of both costs and environmental resources. To register for the service, shareholders should log on to www.investorcentre.co.uk.
ELECTRONIC PROXY VOTING
To lodge your proxy vote for the AGM via the internet, log on to www.investorcentre.co.uk/eproxy. You will need the Control Number, Shareholder Reference Number and Personal Identification Number printed on your Form of Proxy.
SHAREHOLDER ENQUIRIES
Enquiries relating to shareholdings should be made to the Company's Registrars, Computershare Investor Services PLC at the address set out below.
REGISTRARS
Computershare Investor Services PLC
The Pavilions, Bridgwater Road
Bristol BS99 6ZY
United Kingdom
Tel: +44 (0) 370 702 0159
www.computershare.com