Scotgold Resources Ltd Result of AGM (7403U)

TIDMSGZ

RNS Number : 7403U

Scotgold Resources Ltd

26 November 2019

Scotgold Resources Limited (AIM:SGZ)

("Scotgold" or the "Company")

Results of 2019 Annual General Meeting

The Company confirms that all resolutions put to shareholders at the Annual General Meeting ("AGM") held today, were carried on a show of hands.

The Company received valid proxies representing 71.93% of the total number of shares in the Company with voting rights.

It is noted that following a motion tabled to amend Resolution 3, the amended Resolution was carried unanimously on the following terms:

"That, approval is given for the Company to grant, Mr Richard Gray CEO, 1,000,000 options exercisable at GBP0.30, vesting on the date of first production of gold with an expiry date of 1 May 2028"

The motion to amend Resolution 3 was proposed to correct the date of expiry of options (previously referred to as "Warrants" in the RNS of 03 May 2019) with the terms as agreed by the Board and announced on 03 May 2018, whereby the options were to vest upon the latter of 1 year from the date of award or from first gold production and have an expiry date of 10 years from award.

 
 Resolution              For         % of      Against     % of       Open       % of      Abstain   % of received 
                                    received              received    Usable    received 
 1: Re-election 
  of director 
  - Chris Sangster    35,318,299     99.98%        0        0.00%      6,022      0.02%        0            0 
                     -----------  ----------  --------  ----------  --------  ----------  --------  -------------- 
 2: Election 
  of Director 
  - Ian Proctor       35,317,624     99.98%       675       0.00%      6,022      0.02%        0            0 
                     -----------  ----------  --------  ----------  --------  ----------  --------  -------------- 
 3: Executive 
  Management 
  Options             35,313,563     99.97%      4,736      0.01%      6,022      0.02%        0            0 
                     -----------  ----------  --------  ----------  --------  ----------  --------  -------------- 
 4: Management 
  Incentive 
  Share Capacity      35,313,110     99.97%      5,189      0.01%      6,022      0.02%        0            0 
                     -----------  ----------  --------  ----------  --------  ----------  --------  --------------

For further information please contact:

 
 Scotgold Resources Limited        Tel: +44 (0)1838 400 
  Richard Gray                      306 
 SP Angel Corporate Finance        Tel +44 (0) 20 3470 
  LLP                               0470 
  Nomad and Joint Broker 
  Ewan Leggat / Charlie Bouverat 
 Smaller Company Capital           Tel: +44 (0)20 3651 
  Ltd                               2911 
  Joint Broker 
  Rupert Williams 
 Capital Markets Consultants       Tel: +44 (0) 7703 167 
  Financial PR                      065 
  Simon Rothschild

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END

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