Gem Diamonds To Engage Shareholders After Dissent Against Board

LONDON (Alliance News) - Gem Diamonds Ltd will speak with shareholders, it said Tuesday, after ...

Alliance News 4 June, 2019 | 3:03PM
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LONDON (Alliance News) - Gem Diamonds Ltd will speak with shareholders, it said Tuesday, after dissent against the re-election of some members of its leadership.

The miner held its annual general meeting in London on Tuesday, and 23% of shareholders voted against Non-Executive Chair Harry Kenyon-Slaney's re-election. None abstained in that particular vote.

Some 21% of shareholders, with none abstaining, voted against Chief Executive Clifford Elphick's re-election, while 19% rejected the re-election of Senior Independent Director Michael Lynch-Bell.

"The company notes the votes received on resolutions five and eight. In accordance with the UK Corporate Governance Code, the company plans to consult with relevant shareholders to understand the reasons behind the results on those resolutions and address any concerns they may have," said Gem.

"Once the outcomes of the consultations have been assimilated, an update will be provided in due course on the views received from such shareholders and any actions taken."

Shares were flat on Tuesday afternoon at a price of 87 pence each.

By George Collard;

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Gem Diamonds Ltd 32.89 GBX 2.77 -

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