Base Resources Limited - Results of 2023 Annual General Meeting

PR Newswire

LONDON, United Kingdom, November 24

 

 

 

AIM and Media Release 

24 November 2023

 

Base Resources Limited
Results of 2023 Annual General Meeting

 

Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) advises that the results of the resolutions put to Base Resources shareholders at today’s meeting are set out in the table below.

 

All resolutions put to the meeting were decided by poll and were carried, other than items 1 and 5 which were not carried. 

 

Items 1 and 5 both concerned remuneration-related matters, with item 1 seeking adoption of the Company’s remuneration report for the 2023 financial year.  As 25% or more of the votes cast on item 1 were against the resolution, this constitutes a ‘first strike’ for the purposes of the Corporations Act 2001 (Cth).

 

The Board will seek to further engage with shareholders to understand their rationale for voting against these remuneration related items.  In the event that their voting decisions were driven by concerns with Base Resources’ remuneration policy and practices, the Board will take these matters into account as part of its consideration of the Company’s future remuneration policy and practices.

 

Resolution details

Instructions given to validly appointed proxies

(as at proxy close)

Number of votes cast on the poll

(where applicable)

Resolution

Result

Resolution

Resolution

Type

For

Against

Proxy's

Discretion

Abstain

For

Against

Abstain1

Carried /

Not Carried

Item 1 Adoption of the Remuneration Report

Ordinary

195,355,406

24.37%

605,692,843

75.59%

290,555

0.04%

88,514

199,193,020

24.69%

607,597,503

75.31%

853,514

  Not Carried

Item 2 Re-election of Mr Michael Stirzaker as a Director

Ordinary

502,122,708

99.67%

1,229,016

0.24%

423,889

0.09%

312,445,703

520,075,292

99.44%

2,929,016

0.56%

312,445,703

 Carried

Item 3 Re-election of Mr Malcolm Macpherson as a Director2

Ordinary

 

Item withdrawn. Director did not seek re-election.

Item 4 Election of Ms Sheila Khama as a Director

Ordinary

814,797,446

99.83%

1,097,457

0.13%

317,489

0.04%

8,924

832,628,630

99.67%

2,797,457

0.33%

23,924

 Carried

Item 5 Approval of the Grant of Performance Rights to Mr Tim Carstens

Ordinary

196,582,803

37.84%

322,541,872

62.10%

272,389

0.06%

296,824,252

204,970,394

38.66%

325,212,532

61.34%

305,267,085

 Not Carried

Note (1):  Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.

Note (2):  As at today’s date, Mr Macpherson did not own or control any Base Resources securities. 

 

ENDS.

 

For further information contact:

Australian Media Relations

UK Media Relations

Citadel Magnus

Tavistock Communications

Cameron Gilenko and Michael Weir

Jos Simson and Gareth Tredway

Tel: +61 8 6160 4900

Tel: +44 207 920 3150

 

About Base Resources

Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance.  The Company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar.  Base Resources is an ASX and AIM listed company.  Further details about Base Resources are available at www.baseresources.com.au.

 

PRINCIPAL & REGISTERED OFFICE
Level 3, 46 Colin Street
West Perth, Western Australia, 6005
Email:  info@baseresources.com.au
Phone: +61 8 9413 7400
Fax: +61 8 9322 8912

 

NOMINATED ADVISER & JOINT BROKER
Canaccord Genuity Limited
James Asensio / Raj Khatri / George Grainger
Phone: +44 20 7523 8000

 

JOINT BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: +44 20 3207 7800