TIDMHOC
RNS Number : 0888A
Hochschild Mining PLC
27 May 2021
__________________________________________________________________________________________
27 May 2021
Result of AGM
Hochschild Mining PLC (the "Company") announces the results
detailed below of the poll taken at the Annual General Meeting (the
"AGM") held earlier this afternoon at which all proposed
resolutions were passed.
The Board notes the level of votes against Resolution 2
(approval of the 2020 Directors' Remuneration Report) and
Resolution 11 (the re-election of Dionisio Romero Paoletti).
Approval of 2020 Directors' Remuneration Report
The Directors appreciate the support received for the
Remuneration Report in an extremely difficult year.
The Company recognises that the partial restatement of annual
bonus objectives during the year is not usual practice but was
considered necessary by the Remuneration Committee (the
"Committee"). This was in light of the significant disruption
suffered at the operations, primarily resulting from Covid-related
suspensions which were mandated by governmental authorities.
Furthermore, the Committee felt that the level of bonus should
reflect management's excellent performance in responding to the
unprecedented challenges posed by the pandemic. A detailed
explanation of the reasoning for the adjustments has been provided
in the 2020 Annual Report and Accounts and through personal
engagement with the Company's major shareholders.
Re-election of Dionisio Romero Paoletti
With regards to Resolution 11, the Board notes shareholders'
continued concerns in connection with Mr Romero's availability in
light of the number of publicly-listed boards of which he is a
member. The Board has considered the matter, noting that Mr Romero
serves on the Hochschild Board as a nominee director of the
Company's major shareholder, Pelham Investment Corporation, which
is ultimately controlled by Eduardo Hochschild.
Mr Romero has continued to reassure the Board of his availability and commitment to the Company.
The Company values open and transparent dialogue with all
stakeholders and will continue to engage with its shareholders to
ensure their views on the above matters and, in general, are known
and understood. An update will be provided, as required by the UK
Corporate Governance Code, within six months of the AGM.
Copies of Articles of Association & Resolutions
Copies of the new Articles of Association and resolutions passed
as Special Business at the Annual General Meeting are being
submitted to the UK Listing Authority and will shortly be available
for inspection at the
National Storage Mechanism at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Note
The number of Ordinary Shares in issue on 25 May 2021 at 6pm was
513,875,563. Shareholders are entitled to one vote per share. A
vote withheld is not a vote in law and is not counted in the
calculation of the proportion of votes cast.
__________________________________________________________________________________________
Enquiries:
Hochschild Mining PLC
Raj Bhasin +44 (0)7825 533495
Company Secretary
Hudson Sandler
Charlie Jack +44 (0)20 7796 4133
Public Relations
___________________________________________________________________________________________________________
About Hochschild Mining PLC
Hochschild Mining PLC is a leading precious metals company
listed on the London Stock Exchange (HOCM.L / HOC LN) with a
primary focus on the exploration, mining, processing and sale of
silver and gold. Hochschild has over fifty years' experience in the
mining of precious metal epithermal vein deposits and currently
operates three underground epithermal vein mines, two located in
southern Peru and one in southern Argentina. Hochschild also has
numerous long-term projects throughout the Americas.
LEI: 549300JK10TVQ3CCJQ89
Resolution VOTES FOR % OF VOTES AGAINST % OF TOTAL VOTES VOTES WITHHELD
("O" denotes Ordinary VOTES VOTES
Resolution, CAST CAST
"S" denotes Special (1) (1)
Resolution)
Receipt of 2020
Report and Accounts
1 (O) 416,621,275 99.44% 2,327,284 0.56% 418,948,559 1,124,015
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Approve 2020
Directors'
Remuneration
2 Report (O) 282,820,516 67.47% 136,328,236 32.53% 419,148,752 923,822
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Approve the
Directors'
Remuneration
3 Policy (O) 359,539,286 85.60% 60,498,907 14.40% 420,038,193 34,381
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Approve the final
4 dividend (O) 420,045,646 99.99% 3,202 0.01% 420,048,848 23,726
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Re-elect Graham Birch
5 (O) 418,545,391 99.85% 631,300 0.15% 419,176,691 895,883
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Votes of the
independent
shareholders
(2) 221,645,085 99.72% 631,300 0.28% 222,276,385 895,883
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Re-elect Jorge Born
6 Jr. (O) 415,723,097 98.98% 4,290,011 1.02% 420,013,108 59,466
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Votes of the
independent
shareholders
(2) 218,822,791 98.08% 4,290,011 1.92% 223,112,802 59,466
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Re-elect Ignacio
7 Bustamante (O) 404,291,184 99.96% 151,968 0.04% 404,443,152 15,629,422
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Elect Jill Gardiner
8 (O) 418,650,207 99.67% 1,392,902 0.33% 420,043,109 29,465
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Votes of the
independent
shareholders
(2) 221,749,901 99.38% 1,392,902 0.62% 223,142,803 29,465
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Re-elect Eduardo
9 Hochschild (O) 343,389,223 84.90% 61,085,929 15.10% 404,475,152 15,597,422
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Re-elect Eileen
10 Kamerick (O) 396,790,854 94.46% 23,252,255 5.54% 420,043,109 29,465
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Votes of the
independent
shareholders
(2) 199,890,548 89.58% 23,252,255 10.42% 223,142,803 29,465
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Re-elect Dionisio
Romero Paoletti
11 (O) 246,736,444 61.06% 157,365,608 38.94% 404,102,052 15,970,522
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Re-elect Michael
12 Rawlinson (O) 385,429,732 91.76% 34,613,376 8.24% 420,043,108 29,466
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Votes of the
independent
shareholders
(2) 188,529,426 84.49% 34,613,376 15.51% 223,142,802 29,466
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Re-elect Sanjay Sarma
13 (O) 419,541,770 99.88% 501,339 0.12% 420,043,109 29,465
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Votes of the
independent
shareholders(2) 222,641,464 99.78% 501,339 0.22% 223,142,803 29,465
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Re-appoint Ernst &
Young LLP as
14 auditors (O) 403,588,361 96.08% 16,457,747 3.92% 420,046,108 26,466
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Authorise the Audit
Committee to
set the auditors'
remuneration
15 (O) 420,043,659 99.99% 3,552 0.01% 420,047,211 25,363
---------------------- ------------ ------- -------------- ------- ------------ ---------------
16 Authorise directors
to allot shares/grant
rights to subscribe
for or to convert
any securities into
shares (O) 416,128,643 99.07% 3,912,190 0.93% 420,040,833 31,741
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Disapply statutory
pre-emption
17 rights (S) 414,346,386 99.99% 34,156 0.01% 414,380,542 5,692,032
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Disapply statutory
pre-emption
rights to finance an
acquisition
or other capital
18 investment (S) 418,249,565 99.58% 1,768,243 0.42% 420,017,808 54,766
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Authorise the Company
to make market
purchases of own
19 shares (S) 418,621,104 99.68% 1,326,903 0.32% 419,948,007 124,567
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Adopt new Articles of
Association
20 (S) 420,049,029 99.99% 5,202 0.01% 420,054,231 18,343
---------------------- ------------ ------- -------------- ------- ------------ ---------------
Authorise general
meetings other
than AGMs to be
called on not less
than 14 clear days'
21 notice (S) 413,120,756 98.35% 6,937,555 1.65% 420,058,311 14,263
---------------------- ------------ ------- -------------- ------- ------------ ---------------
1. Excludes votes withheld
2. Under Listing Rule 9.2.2E R, resolutions on the re-election
of any independent director must be approved by (a) the
shareholders of the Company; and (b) the independent shareholders
of the Company (i.e. excluding the 196,900,306 shares owned by
Pelham Investment Corporation which is ultimately controlled by
Eduardo Hochschild)
- ends -
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