Kenmare Resources — AGM Information 2014

May 28, 2014

National Storage Mechanism | Additional information

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RNS Number : 2434I

Kenmare Resources PLC

28 May 2014

Kenmare Resources plc ("Kenmare" or "the Company")

28 May 2014

Kenmare AGM Results

At the Annual General Meeting of Kenmare Resources plc held today at The Westbury Hotel, Grafton Street, Dublin 2, Ireland, all of the resolutions considered and voted upon by the shareholders were approved on a show of hands. The full text of each resolution was included in the notice of the meeting circulated to shareholders on 30 April 2014. In accordance with Listing Rule 9.6.2 R, copies of the resolutions passed at the Annual General Meeting have been forwarded to the National Storage Mechanism and will be available for viewing at www.hemscott.com/nsm.do.

Michael Carvill, Managing Director, commented: "We are pleased at ongoing solid progress being made at Moma. Arrival of the generator sets which were ordered in April remains on schedule and they are expected to reach site in July.  Market conditions have not yet recovered, with prices continuing to persist at what we believe are, for the sector, unsustainably low levels.  This in turn is continuing to weigh on market sentiment towards Kenmare.  In line with our previously stated strategy, management is reviewing and cutting costs where possible, working continually to maintain reasonable margins and to position Kenmare for the upturn.  We thank our shareholders for their continuing support."

The shareholder votes received in respect of each resolution are set out below:

Resolution	Total	For	%	Against	%	Vote withheld*
Consider the Directors' Report and Accounts	1,977,479,134	1,882,022,351	95.17	22,411,967	1.13	73,044,816
Consider the Directors' Remuneration Report	1,977,479,134	1,965,626,173	99.40	6,563,060	0.33	5,289,901
Consider the Directors' Remuneration Policy Report	1,977,479,134	1,896,915,196	95.93	51,639,025	2.61	28,924,913
Re-elect Ms. S.    Bianchi	1,977,479,134	1,914,878,026	96.83	55,690,135	2.82	6,910,973
Re-elect Mr. M. Carvill	1,977,479,134	1,976,941,938	99.97	461,906	0.02	75,290
Re-elect Mr. T. Fitzpatrick	1,977,479,134	1,963,698,946	99.30	6,849,615	0.35	6,930,573
Re-elect Ms. E. Headon	1,977,479,134	1,917,696,878	96.98	52,866,683	2.67	6,915,573
Re-elect Mr. J. Loasby	1,977,479,134	1,969,589,494	99.60	998,067	0.05	6,891,573
Re-elect Mr. A. Lowrie	1,977,479,134	1,968,260,882	99.53	2,312,279	0.12	6,905,973
Re-elect Mr. T. McCluskey	1,977,479,134	1,965,483,775	99.39	5,108,662	0.26	6,886,697
Re-elect Mr S. McTiernan	1,977,479,134	1,917,246,790	96.95	53,296,771	2.70	6,935,573
Re-elect Mr G. Smith	1,977,479,134	1,917,711,471	96.98	52,843,090	2.67	6,924,573
Authority to fix auditor's remuneration	1,977,479,134	1,892,133,853	95.68	85,293,991	4.31	51,290
Allow for the convening of Extraordinary General Meetings by at least 14 days' notice	1,977,479,134	1,837,443,763	92.92	139,944,456	7.08	90,915
Approve  The Kenmare Incentive Plan 2014 ("KIP")	1,977,478,134	1,810,636,009	91.56	159,051,910	8.04	7,790,215
Approve the granting of Initial KIP Awards	1,977,479,134	1,265,202,387	63.98	664,257,515	33.59	48,019,232
Increase the authorized ordinary share capital of the Company from €180m to €240m the creation of 1m new shares	1,977,479,134	1,912,062,725	96.69	65,371,342	3.31	45,067
Authorise the Directors to allot relevant securities	1,977,479,134	1,918,417,149	97.01	59,018,159	2.98	43,826
Authorise Directors to allot securities for cash	1,977,479,134	1,918,278,552	97.01	58,952,589	2.98	247,993

For further information, please contact:

Kenmare Resources plc

Michael Carvill, Managing Director                                     

Tel: +353 1 671 0411                                                                            

Mob: + 353 87 674 0110                                                           

Tony McCluskey, Financial Director

Tel: +353 1 671 0411

Mob: + 353 87 674 0346

Deirdre Corcoran, Company Secretary                                 

Tel: +353 1 671 0411

Virginia Skroski, Investor Relations Manager

Tel: +353 1 671 0411                                                                 

Murray Consultants                                                               

Joe Heron                                                                                  

Tel: +353 1 498 0300                                                                 

Buchanan

Bobby Morse / Louise Mason / Gordon Poole

Tel: +44 207 466 5000

*A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes for or against a resolution.

This information is provided by RNS

The company news service from the London Stock Exchange

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