TIDMTUNG
RNS Number : 2835P
Tungsten Corporation PLC
15 October 2021
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
15 October 2021
For Immediate Release
Result of AGM
The Company announces the outcome of votes cast by means of a
poll in respect of the resolutions put to the Annual General
Meeting held at 11.00 am on Friday 15 October 2021. The table below
gives details of the results of the poll in respect of the ordinary
resolutions (resolutions 1 to 8) and special resolutions
(resolutions 9 to 11) set out in the Company's notice of AGM dated
20 September 2021.
Resolution Total Votes Total Votes Total Votes
For * Against Withheld
**
1. To receive and adopt the Company's
financial statements and Directors'
and Auditors' reports for the
year ended 30 April 2021 0
76,708,263
(100%) (0.00%) 66,085 (0.09%)
------------ ------------ ---------------
2. To approve the Directors'
Remuneration Report for the year
ending 30 April 2021 55,885,446 72,826
20,816,076
(72.86%) (27.14%) (0.09%)
------------ ------------ ---------------
3. To elect Mr Andrew Coulsen
as a director of the Company. 3,078 70,862
76,700,408
(100%) (0.00%) (0.09%)
------------ ------------ ---------------
4. To elect Mr Paul Cooper as
a director of the Company. 2,478 70,862
76,701,008
(100%) (0.00%) (0.09%)
------------ ------------ ---------------
5. To re-elect Mr Tony Bromovsky 55,883,010 17,894,393 2,996,945
as a director of the Company. (75.75%) (24.25%) (4.06%)
------------ ------------ ---------------
6. To appoint BDO LLP as auditors 600
76,701,801
(100%) (0.00%) 71,947 (0.09%)
------------ ------------ ---------------
7. To authorise the Directors
to set the auditors' remuneration 3,078
76,706,270
(100%) (0.00%) 65,000 (0.08%)
------------ ------------ ---------------
59,663,667 17,045,681
8. Authority to allot shares (77.78%) (22.22%) 65,000 (0.08%)
------------ ------------ ---------------
9. General authority to disapply
pre-emption rights (special resolution) 59,657,805 17,045,681
(77.78%) (22.22%) 70,862 (0.09%)
------------ ------------ ---------------
10. Additional authority to disapply
pre-emption rights for purposes
of acquisitions or specified
capital investments (special
resolution) 59,657,805 17,045,681
(77.78%) (22.22%) 70,862 (0.09%)
------------ ------------ ---------------
11. Authority to purchase own
shares (special resolution) 3,563
76,705,785
(100%) (0.00%) 65,000 (0.08%)
------------ ------------ ---------------
* Includes discretionary votes.
** A vote withheld is not treated as a vote in law and would not
be counted in the calculation of the proportion of the votes cast
for or against a resolution
The Board would like to thank shareholders for their engagement
with the resolutions passed at the AGM.
The Board notes that:
-- Resolution 2 (to approve the Director's Remuneration Report
for the year ended 30 April 2021), and Resolution 5 (to re-elect Mr
Tony Bromovsky), which were ordinary resolutions, passed with a
majority of less than 80% (receiving votes in favour of 72.86% and
75.75% respectively ); and
-- Resolutions 8 (authority to allot shares), 9 ( general
authority to disapply pre-emption rights), and 10 (additional
authority to disapply pre-emption rights for purposes of
acquisitions or specified capital investments), which were special
resolutions, passed with a majority of less than 80% (each
receiving votes in favour of 77.78 %).
In accordance with the QCA corporate Governance Code, the Board
confirms that it will consult and engage with the relevant
shareholders to understand and discuss their concerns with respect
to these resolutions.
Defined terms used in this announcement shall have the meanings
set out in the AGM Notice.
As at the date of the AGM, there were 126,537,962 shares in
issue, also being the total voting rights of the Company. The
Company's Articles of Association set out that every member who is
present in person or by proxy shall have one vote for every share
of which he is the holder on a poll. The scrutineer of the poll was
Equiniti Limited.
Enquiries
Tungsten Corporation plc
Paul Cooper, Chief Executive Officer
Ian Kelly, Chief Finance Officer +44 20 7280 6980
Canaccord Genuity Limited (Broker and Nominated
Adviser)
Simon Bridges/Andrew Potts +44 20 7523 8000
Tavistock Communications Financial PR & IR
Heather Armstrong
Jos Simson
Katie Hopkins +44 20 7920 3150
About Tungsten Corporation plc
Tungsten Corporation (AIM: TUNG) is the world's largest,
compliant business transaction network. A leading global electronic
invoicing and purchase order transactions network; Tungsten's
mission is centred on enabling a touchless invoice process allowing
businesses around the globe to gain maximum value from their
invoice process.
Tungsten processes invoices for 74% of the FTSE 100 and 71% of
the Fortune 500. It enables suppliers to submit tax compliant
e-invoices in 54 countries, and last year processed transactions
worth over GBP220 billion for organisations such as Caesars
Entertainment, Computacenter, GlaxoSmithKline, Kraft Foods, Mohawk
Industries, Mondelēz International, Procter & Gamble, Shaw
Industries, Unilever and the US Federal Government.
Founded in 2000 and headquartered in London, Tungsten has
offices in the US, Bulgaria and Malaysia, employing over 227
people.
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