Petra Diamonds Limited has announced the results of its Annual General Meeting (AGM). All resolutions put to the AGM were passed by the majority. The resolutions included receiving the financial statements for the year ended June 30, 2023, approving the Directors' Remuneration Policy, re-appointing BDO LLP as auditors, and re-electing several directors. Resolution 6, which involved the re-election of Mr. Peter John Hill, was withdrawn as he did not offer himself up for re-election. The full text of each resolution can be found on the company's website.
Resolution 15, which authorized the Directors to issue and allot Relevant Securities, passed but had a significant number of votes cast against it. The Board will engage with shareholders to understand their concerns and provide an update within six months of the AGM.
As previously announced, Mr. Peter Hill CBE did not offer himself up for re-election and ceased to be Chair of the Board and the Nomination and Investment Committees. Ms. Varda Shine has been appointed interim Chair of the Board and Chair of the Nomination and Investment Committees. Mr. Bernard Pryor will become the interim Senior Independent Director.
Johannes Bhatt retired from the Board immediately following the conclusion of the AGM.
Petra Diamonds is a leading independent diamond mining group with interests in mines in South Africa and Tanzania.