Eastplats Announces Voting Results of Its Annual General and Special Meeting of Shareholders

Vancouver, British Columbia--(Newsfile Corp. - June 22, 2022) - Eastern Platinum Limited (TSX: ELR) (JSE: EPS) ("Eastplats" or the "Company") announces the voting results of the Company's 2022 Annual General and Special Meeting of Shareholders held on June 21, 2022 (the "Meeting"). A total of 81,269,162 common shares were voted at the Meeting, representing 58.97% of the votes attached to all the outstanding common shares of the Company.

Detailed results of the vote held at the Meeting are set out below:

Business
Outcome of Vote
Votes For
Votes AgainstVotes Withheld
1. To set the number of Directors
Approved
79,626,484
(99.90%)

83,688
(0.10%)

        
2. Resolution electing:






        
(a) Diana Hu;
Approved
25,443,954
(31.92%)


54,266,218
(68.08%)
(b) Michael Cosic;
Approved
25,439,554
(31.92%)


54,270,618
(68.08%)
(c) George Dorin;
Approved
70,441,773
(88.37%)


9,268,399
(11.63%)
(d) Bielin Shi; and
Approved
79,652,568
(99.93%)


57,604
(0.07%)
(e) Xin (Alex) Guan
Approved
70,437,873
(88.37%)


9,272,299
(11.63%)
as directors of the Company.






        
3. Resolution appointing PricewaterhouseCoopers LLP, as auditors of the Company for the ensuing year and authorizing the directors of the Company to fix their remuneration.
Approved
81,109,491
(99.80%)


159,671
(0.20%)
        
4. Resolution approving the continuation of the Company's Stock Option Plan for a further three years.
Approved
73,098,311
(91.71%)


6,611,861
(8.29%)

 

Based on the voting results, all of the nominees proposed as directors and listed in the management information circular dated May 6, 2022 (the "Circular") were elected as directors of Eastplats at the Meeting in accordance with applicable corporate law.

However, two directors (Diana Hu and Michael Cosic) had more votes withheld than were voted in their favour of their appointments to the Board. As a result, in accordance with the Company's Majority Voting Policy (the "Policy"), these two directors have tendered their resignations from the Board of Directors of the Company (the "Board"), effective upon acceptance by the Board. The Board will refer such resignations to the Corporate Governance and Compensation Committee (the "Committee") for consideration on whether or not to accept the resignations submitted by these directors. In accordance with the Policy, the Board shall accept such resignations unless the Committee determines that there are exceptional circumstances relating to the composition of the Board or the voting results that should delay the acceptance of such resignations or justify rejecting such resignations. The Board will issue a news release with its decision.

At the Meeting, Eastplats' Stock Option Plan has been authorized for three further years, and the PricewaterhouseCoopers LLP were also re-appointed as auditors of Eastplats.

For further information, please contact:

EASTERN PLATINUM LIMITED
Wylie Hui, Chief Financial Officer and Corporate Secretary
whui@eastplats.com (email)
(604) 800-8200 (phone)

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128541

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