Subjects: ANNUAL MEETINGS, BOARD OF DIRECTORS, SHAREHOLDER RIGHTS PLANS, SHAREHOLDER RIGHTS PLANS, MISCELLANEOUS
Lydian Reports Voting Results from Annual General Meeting
TORONTO, June 12, 2019 (GLOBE NEWSWIRE) -- Lydian International Limited (TSX:LYD) ("Lydian" or "the Company") is providing a summary of the voting results from its 2019 Annual General Meeting of shareholders (the "Meeting") held today in Toronto, Canada.
Results of the Meeting
A summary of the voting results is as follows:
| Total shares voted: | 371,533,938 |
| Total shares issued: | 756,168,533 |
| Total percentage of shares voted: | 49.13% |
Election of Directors
Each of the individuals nominated by management for election as a director of the Company was elected as a director at the Meeting. Voting with respect to the election of directors was conducted by way of ballot and the results are as follows:
| Name of Nominee | Vote For | % | Withheld Vote | % | ||
| Russell Ball | 359,707,867 | 99.94 | 215,487 | 0.06 | ||
| João Carrêlo | 359,842,054 | 99.98 | 81,300 | 0.02 | ||
| Willan J. Abel | 359,762,004 | 99.96 | 161,350 | 0.04 | ||
| Stephen J. Altmann | 359,844,054 | 99.98 | 79,300 | 0.02 | ||
| Gillian Davidson | 359,762,354 | 99.96 | 161,000 | 0.04 | ||
| Edward Sellers | 359,788,167 | 99.96 | 135,187 | 0.04 |
Re-Appointment of Auditors
Grant Thornton LLP was re-appointed as auditor of the Company by shareholders pursuant to a vote conducted by ballot. Results of the ballot are as follows:
| Name of Auditors | Vote For | % | Withheld Vote | % | ||
| Grant Thornton | 371,434,026 | 99.97 | 99,912 | 0.03 |
Ratification of Unallocated Entitlements under Stock Option Plan and RSU Plan
The unallocated entitlements under the Company's stock option plan and the restricted stock unit plan, each as more particularly described in the Company's management information circular dated May 8, 2019, have been ratified for the ensuing three years pursuant to a vote conducted by ballot. Results of the ballot are as follows:
| Resolution | Vote For | % | Withheld Vote | % | ||
| Ratify Unallocated Entitlements under Stock Option Plan and RSU Plan for 3 Years | 359,652,712 | 99.92 | 270,602 | 0.08 |
Continuance of the Corporation under the Canada Business Corporations Act
The continuance of the Company under the Canada Business Corporations Act, as more particularly described in the Company's management information circular dated May 8, 2019, has been approved pursuant to a vote conducted by ballot. Results of the ballot are as follows:
| Resolution | Vote For | % | Withheld Vote | % | ||
| Ratify Unallocated Entitlements under Stock Option Plan and RSU Plan for 3 Years | 359,707,354 | 99.94 | 216,000 | 0.06 |
Resignation of CEO
Further to the Company's press release on June 6, 2019, following the Meeting, Joao Carrelo, President and Chief Executive Officer and a member of the board of directors, will step down effective today. Edward Sellers, a current member of the board of directors, has been appointed as Interim President and Chief Executive Officer, effective today.
Appointment of New Director
Further to the Company's press release on May 30, 2019, following the Meeting, the board of directors appointed Victor Flores to serve as a director of the Company to replace Joao Carrelo on the board, effective today. Mr. Flores will serve until the end of the next annual general meeting or until his successors are appointed.
About Lydian International Limited
Lydian is a gold-focused mineral development company, whose main focus is on the Amulsar Project, a gold development-stage project located in the Republic of Armenia. The Company's strategy is to implement mine development and construction plans for the Amulsar Project as described in the Company's most recent technical report titled "NI 43-101 Technical Report, Amulsar Updated Resources and Reserves Armenia" dated March 30, 2017 and to transition to a gold producer. For more information and to directly contact us, please visit www.lydianinternational.co.uk.
For further information, please contact:
Bill Dean, Deputy Chief Financial Officer
+1 720-307-5089
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