2024 Annual General Meeting Voting Outcome Update
21 Upper Brook Street
London W1K 7PY
United Kingdom
20 November 2024
2024 Annual General Meeting Voting Outcome Update
In accordance with Provision 4 of the UK Corporate Governance Code, the Company hereby provides an update on the actions taken in response to the level of votes cast against one of the resolutions (resolution 9) proposed at the Company's Annual General Meeting held on 21 May 2024. In particular, resolution 9, sought to approve the re-election of Alberto Tiburcio, an Independent Non-Executive Director of the Company.
As announced on 21 May 2024, resolution 9 was passed by 96.55% of the total votes cast, and by 78.03% of votes cast by independent shareholders. Whilst the Board was pleased to note that a clear majority of independent shareholders were supportive of Mr Tiburcio's re-election, it has sought to engage with the limited number of independent shareholders who voted against resolution 9 to understand the reasons for their votes.
From the discussions to date, the Board understands that those shareholders who voted against the re-election of Mr Tiburcio did so for a small number of reasons rather than having one substantive concern. These reasons include queries regarding (i) whether Mr Tiburcio, due to his commitments on other Boards, has the capacity to devote sufficient time to effectively discharge his duties for the Company, as well as (ii) Mr Tiburcio acting as Chairman of two Board Committees (Audit and Remuneration). This will be addressed when preparing the Company's Annual Report and Accounts for 2024 and the Company notes that Mr Tiburcio has not missed a single Board or Board Committee meeting since his designation as a Director.
Mr Tiburcio is a committed and hardworking Director whose contributions to the Board as an Independent Director and to the Audit and Remuneration Committees as Chairman of both have been very valuable and greatly appreciated by his Board colleagues and the senior Executive Team. In that regard, the Company notes that the proposal to re-elect Mr Tiburcio as an Independent Non-Executive Director of the Company at the 2024 Annual General Meeting, as well as his designation by the Board as Chairman of the Audit and Remuneration Committees, received unanimous Board support.
For further information, please visit our website www.fresnilloplc.com or contact:
FRESNILLO PLC London Office Gabriela Mayor, Head of Investor Relations Mark Mochalski |
Tel: +44 (0)20 7399 2470 |
Mexico City Office Ana Belem Zárate | Tel: +52 55 52 79 3206 |
SODALI Peter Ogden |
Tel: +44 (0)7793 858 211 |
ABOUT FRESNILLO PLC
Fresnillo plc is the world's largest primary silver producer and Mexico's largest gold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES.
Fresnillo plc has eight operating mines, all of them in Mexico - Fresnillo, Saucito, Juanicipio, Ciénega, Herradura, Soledad-Dipolos1, Noche Buena and San Julián (Veins and Disseminated Ore Body) and four advanced exploration projects - Orisyvo, Rodeo, Guanajuato and Tajitos as well as a number of other long term exploration prospects.
Fresnillo plc has mining concessions and exploration projects in Mexico, Peru and Chile.
Fresnillo plc's goal is to maintain the Group's position as the world's largest primary silver company and Mexico's largest gold producer.
1 Operations at Soledad-Dipolos are currently suspended.
FORWARD-LOOKING STATEMENTS
Information contained in this announcement may include 'forward-looking statements'. All statements other than statements of historical facts included herein, including, without limitation, those regarding the Fresnillo Group's intentions, beliefs or current expectations concerning, amongst other things, the Fresnillo Group's results of operations, financial position, liquidity, prospects, growth, strategies and the silver and gold industries are forward-looking statements. Such forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements are not guarantees of future performance and the actual results of the Fresnillo Group's operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates, may differ materially from those described in, or suggested by, the forward-looking statements contained in this document. In addition, even if the results of operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, industry trends, competition, commodity prices, changes in regulation, currency fluctuations (including the US dollar and Mexican Peso exchanges rates), the Fresnillo Group's ability to recover its reserves or develop new reserves, including its ability to convert its resources into reserves and its mineral potential into resources or reserves, changes in its business strategy and political and economic uncertainty.
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