NAIROBI - Caracal Gold Plc, an East African gold producer, announced the successful passage of all resolutions presented during its Annual General Meeting (AGM) on Friday, November 22, 2024. The company, which boasts over 1.3 million ounces of JORC-compliant gold resources, reported overwhelming shareholder support for the proposed items, including the re-election of directors and the appointment of auditors.
Shareholders voted with a significant majority in favor of receiving the Directors' report and the company's financial statements for the period ending June 30, 2023. The resolution passed with 99.98% approval, demonstrating strong investor confidence in the company's governance and performance.
The re-election of Simon Grant-Rennick and Robert Andrew McCrae as directors was also confirmed, with 99.73% and 98.89% of the votes cast in their favor, respectively. This endorsement reflects the shareholders’ trust in the leadership's ability to steer the company forward.
Additionally, the appointment of RPG Crouch Chapman LLP as the company's auditors was ratified with near unanimity, evidencing the shareholders' satisfaction with the firm's prior service. The directors were also authorized to determine the auditors' remuneration with a 99.89% majority.
A key strategic resolution, authorizing the directors to allot securities up to an aggregate nominal value of £8,500,000, was passed with 96.94% of the votes. Moreover, a special resolution allowing the directors to disapply statutory pre-emption rights for equity securities issued for cash on a non-preemptive basis received a 97.23% majority.
Votes withheld were noted but are not considered in the calculation of votes for or against the resolutions, as per company and legal guidelines.
Caracal Gold continues to focus on expanding production and resources in East Africa, with a goal to increase production to over 50,000 ounces per year and build a JORC-compliant resource base of more than 3 million ounces. The company is advancing its mine optimization strategy at the Kilimapesa Gold Mine in Kenya and owns the Nyakafuru Project in Tanzania, which holds a significant high-grade shallow gold resource.
The information presented in this article is based on a press release statement from Caracal Gold Plc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.