Vancouver, BC – September 26th, 2019 – Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) is pleased to announce the results of voting at its Annual General Meeting (“AGM”) of shareholders which was held at 7.30am on September 26th, 2019, in Ulaanbaatar, Mongolia.
The AGM was held concurrent with the 17th annual Discover Mongolia conference and the presentation provided by the Company is available at: www.kincoracopper.com/investors/presentations
All matters submitted to shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular, both dated September 6th, 2019, excluding the Deemed Re-pricing of Stock Options, were approved by the requisite majority of votes cast at the Meeting with 55.4% of shareholder proxies returned. Details of the AGM are provided below.
Number of Directors
Shareholders approved retaining the number of directors at five.
Election of Directors
Shareholders voted in favour of Kincora’s management’s nominees to the board of directors: Jonathan (Sam) Spring, Ray Nadarajah, John Holliday, Lewis Marks and Cameron McRae.
Auditor Re-Appointed
Dale Matheson Carr-Hilton Labonte (“DMCL”) LLP was re-appointed Auditor of the Company to hold office until the next AGM or until its successor is duly appointed, and the directors were authorized to fix the Auditor’s remuneration.
Stock Option Plan
Shareholders re-approved the 10% rolling stock option plan.
Deemed Re-pricing of Stock Options
Shareholders voted against the deemed re-pricing of directors’ stock options.
One-Off Share Award to President and CEO
Shareholders voted in favour of the one-off share award to President and CEO, Jonathan Spring.
Updated shares for service agreements
Shareholders voted in favour of the updated shares for service agreements for directors and key senior management.