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MC Mining Limited (JSE:MCZ) News - Results of Extraordinary General Meeting and Election of Directors
MC Mining Limited
Previously Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388
ISIN AU000000MCM9
JSE share code: MCZ
ASX/AIM code: MCM
ANNOUNCEMENT 11 April 2022
RESULTS OF EXTRAORDINARY GENERAL MEETING & ELECTION OF DIRECTORS
MC Mining Limited (MC Mining or the Company) advises the outcome of
resolutions put to shareholders at the Company’s Extraordinary General
Meeting (Meeting) held today, 11 April 2022.
Results of the Meeting
1. Resolution 1: Removal of Mr Bernard Pryor as a Director of the
Company
This resolution is no longer relevant and is therefore withdrawn.
2. Resolution 2: Removal of Mr Sebastiano Randazzo as a Director of
the Company
This resolution is no longer relevant and is therefore withdrawn.
3. Resolution 3: Removal of any Director of the Company Appointed
after the Date of the Requisition
This resolution is no longer relevant and is therefore withdrawn.
4. Resolution 4: Election of Mr Nhlanhla Nene as a Director
Passed on a poll as an ordinary resolution.
5. Resolution 5: Election of Mr Godfrey Gomwe as a Director
Passed on a poll as an ordinary resolution.
In accordance with Australian Stock Exchange Listing Rule 3.13.2 and
Section 251AA(2) of the Corporations Act 2001, the attached
information is provided in relation to the resolutions passed by
members of the Company at the Meeting and proxies received in respect
of each resolution put to shareholders.
Changes to the Board of Directors
Mr Nhlanhla Nene and Mr Godfrey Gomwe were elected as directors of
the Company. Mr Andrew Mifflin and Mr Khomotso Mosehla have informed
the board that they no longer intend to resign their positions on the
board at this stage and there were no other changes to MC Mining’s
board of directors.
Neither Mr Nene or Mr Gomwe have been subject to the level of due
diligence required by the AIM Rules for Companies and AIM Rules for
Nominated Advisers (the AIM Rules), or been approved by Strand Hanson,
the Company's Nominated Adviser. Strand Hanson has commenced this
process in-line with its requirements under the AIM Rules, including
commissioning external third party due diligence reports. Should
Strand Hanson determine that either Mr Nene or Mr Gomwe are not
suitable to act as directors of the Company, Strand Hanson may be
forced to consider its position as nominated adviser to the Company.
In the event that Strand Hanson were to resign as nominated adviser,
the Company's ordinary shares would be suspended from trading on the
AIM Market of the London Stock Exchange and, under the AIM Rules, the
Company would then have one month to replace Strand Hanson as nominated
adviser, failing which the Company's admission to trading on AIM would
be cancelled. A further announcement on the outcome of the director
due diligence process will be made in due course.
Nhlanhla Nene – Non-executive Director
Mr Nene holds a B Comm (Hons) UWC, Certificate in Economics (UNISA)
and a Certificate in Macro and Microeconomics (University of London).
He is a former Minister of Finance of South Africa and previously also
served as Deputy Minister of Finance and Chairman of the Public
Investment Corporation, the largest institutional investor in South
Africa.
During his years in public office he represented South Africa at a
number of multilateral institutions, including the International
Monetary Fund and World Bank. Prior to this he held senior positions
in financial services at Metropolitan Life. He is currently Chairman
of the Supervisory Board of Arise BV (Dutch based investment company
with a focus on Africa) and a Non-executive Chairman of Thebe
Investment Corporation & and a director of Access Bank Plc. He also
served as Interim Director and Head of Wits Business School as well
as Honorary Adjunct Professor: Wits Business School.
Godfrey Nene – Non-executive Director
Mr Gomwe is a Chartered Accountant (Zimbabwe), holding a B Acc (UZ)
and MBL (UNISA), with over 30 years’ experience in the metals and
mining industries. He is the former Chief Executive Officer of Anglo
American Plc's global thermal coal business which included oversight
over the manganese joint venture with BHP. He was Executive Director
of Anglo American South Africa until August 2012 and his roles included
Head of Group Business Development: Africa, Finance Director and Chief
Operating Officer of Anglo American South Africa. Mr Gomwe also served
as the Executive Chairman and Chief Executive of Anglo American
Zimbabwe Limited as well as a number of Anglo American operating
boards and executive committees including Kumba Iron Ore, Anglo
American Platinum, Highveld Steel and Vanadium and Mondi South Africa.
Prior to joining Anglo American in 1999, Godfrey held many Leadership
positions and directorships in listed and unlisted companies.
AUTHORISED BY:
Tony Bevan
Company Secretary
This announcement has been approved by the Company’s Disclosure Committee.
ASX: MCM / AIM: MCM.L / JSE: MCZ
For more information contact:
Tony Bevan Company Secretary Endeavour Corporate +618 9316 9100
Services
Company advisors:
James Harris / James Dance Nominated Adviser Strand Hanson Limited +44 20 7409 3494
Rory Scott Broker (AIM) Tennyson Securities +44 20 7186 9031
James Duncan Financial PR (South R&A Strategic +27 11 880 3924
Africa) Communications
Investec Bank Limited is the nominated JSE Sponsor
About MC Mining Limited
MC Mining is an AIM/ASX/JSE-listed coal exploration, development and mining company operating in South
Africa. MC Mining’s key projects include the Uitkomst Colliery (metallurgical and thermal coal), Makhado Project
(hard coking coal). Vele Colliery (semi-soft coking and thermal coal), and the Greater Soutpansberg Projects
(coking and thermal coal).
EXTRAORDINARY GENERAL MEETING – Monday 11th April 2022
RESULTS OF MEETING
The following information is provided in accordance with section 251AA(2) of the Corporations Act 2001 (Cth) and
ASX Listing Rule 3.13.2
Instructions given to validly appointed Number of votes cast on the Resolutio
Resolution
proxies poll n
details
(as at proxy close) (where applicable) Result
Resolutio Proxy For Against Abstai Carried/
Abstai
Resolution n Type For Against Discretio n Not
n
n Carried
Resolution 1:
Removal of Mr
Ordinary N/A N/A N/A N/A N/A N/A N/A Withdrawn
Bernard Pryor as
a Director
Resolution 2:
Removal of Mr Sam
Ordinary N/A N/A N/A N/A N/A N/A N/A Withdrawn
Randazzo as a
Director
Resolution 3:
Removal of any
Director of the
Ordinary N/A N/A N/A N/A N/A N/A N/A Withdrawn
Company appointed
after the date of
the Requisition
Resolution 4:
52,356,94 747,21 52,356,94 747,21
Election of Mr N 82,862,607 135 82,862,742
Ordinary 0 4 0 4 Carried
Nene as a 61.56% 0.00% 61.56%
38.44% 38.44%
Director
Instructions given to validly appointed Number of votes cast on the Resolutio
Resolution
proxies poll n
details
(as at proxy close) (where applicable) Result
Resolutio Proxy For Against Abstai Carried/
Abstai
Resolution n Type For Against Discretio n Not
n
n Carried
Resolution 5:
122,206,26 14,012,78 747,71 122,206,40 14,012,78 747,71
Election of Mr 135
Ordinary 8 1 4 3 1 4 Carried
Godfrey Gomwe as 0.00%
89.71% 10.29% 89.71% 10.29%
a Director
NB. Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.
Date: 11-04-2022 05:41:00
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