Ferrexpo PLC held its Annual General Meeting on May 23, 2024, and the results of the voting were disclosed. All resolutions were voted by way of a poll, and the voting results for each resolution were detailed. Notably, there were significant votes against the resolutions to grant the directors authority to allot shares and to disapply pre-emption rights, which ultimately did not pass. The Board of Ferrexpo acknowledged the reasons behind these votes and expressed its intention to engage with shareholders to better understand their concerns.
Additionally, the re-appointment of Vitalii Lisovenko, an Independent Non-executive Director, did not receive the requisite votes required for re-appointment by a majority of the independent shareholders. As per the UK Listing Rules, the Company may put the matter to a second vote of all shareholders to be held between 90 and 120 days after the AGM. Pending the second vote, Mr. Lisovenko will remain a member of the Board. The Board currently intends to hold a second vote for his re-appointment, as they believe his expertise and contribution as a director is important for the Company.
The Company also disclosed the voting results for the election or re-election of directors, the approval of the Remuneration Report and Policy, the re-appointment of auditors, and other resolutions. The Board committed to publishing an update of its shareholder engagement within six months of the AGM. As of the date of the AGM, the Company's issued share capital (excluding treasury shares) consisted of 598,137,142 Ordinary Shares carrying one vote each.