VANCOUVER, BC, June 18, 2025 /CNW/ - Eastern Platinum Limited (TSX: ELR) (JSE: EPS) ("Eastplats" or the "Company") announces the voting results of the Company's 2025 Annual General and Special Meeting of Shareholders held on June 17, 2025 (the "Meeting"). A total of 122,533,921 common shares were voted at the Meeting, representing 60.51% 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
Against | Votes
Withheld |
1. | To set the number of Directors
at 5 |
| Approved
|
| 122,379,825 (99.87 %) |
| 154,096 (0.13 %) |
|
|
|
|
|
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2. | Resolution electing: |
|
|
|
|
|
|
|
| (a) Dr. Bielin Shi; |
| Approved |
| 10,654,809 (8.82%) |
|
| 110,153,359 (91.18%) |
| (b) Xin (Alex) Guan; |
| Approved |
| 120,579,533 (99.81%) |
|
| 228,635 (0.19%) |
| (c) Changyu (Charlie) Liu; |
| Approved |
| 120,573,767 (99.81%) |
|
| 234,401 (0.19%) |
| (d) Lisa Ng; and |
| Approved |
| 120,584,083 (99.82%) |
|
| 224,085 (0.18%) |
| (e) Eason Cong Chen |
| Approved |
| 120,573,667 (99.81%) |
|
| 234,501 (0.19%) |
| as directors of the Company. |
|
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|
|
3. | Resolution appointing
Davidson & Company LLP, as
auditors of the Company for
the ensuing year and
authorizing the directors of the
Company to fix their
remuneration. |
| Approved |
| 122,360,473 (99.86%) |
|
| 173,447 (0.14%) |
|
|
|
|
|
|
|
|
|
4. | Resolution approving the
unallocated options, rights and
other entitlements issuable
under the Company's Stock
Option Plan for a further three
years. |
| Approved |
| 120,155,919 (99.46%) |
| 652,249 (0.54%) |
|
Based on the voting results, all of the nominees proposed as directors and listed in the management information circular dated May 6, 2025 (the "Circular") were elected as directors of Eastplats at the Meeting in accordance with applicable corporate law.
However, one director, Dr. Bielin Shi, 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"), Dr. Shi has tendered his resignation 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 Dr. Shi. In accordance with the Policy, the Board shall accept such resignation 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 resignation or justify rejecting such resignation. The Board will issue a news release with its decision.
At the Meeting, the unallocated options, rights or other entitlements issuable under Eastplats' Stock Option Plan have been authorized for three further years and Davidson & Company LLP was also re-appointed as auditors of Eastplats.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE Eastern Platinum Ltd.
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