Champion Iron Announces FY2024 General Meeting Voting Results
Press Release
MONTRÉAL, Aug. 28, 2024 – (Sydney, August 29, 2024) – Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) (“Champion” or the “Company”) announces that at the Annual General Meeting of the Company’s shareholders (the “Meeting”), held in person on Wednesday, August 28, 2024, at 5:00 PM (Montréal time) / Thursday, August 29, 2024, at 7:00 AM (Sydney time), all resolutions received the requisite majorities, by a vote by poll as set out below. The number of votes cast against Resolution 1 however, constitutes a “second strike” under Australian law. Resolution 2 (Conditional Spill Resolution) was not carried, as recommended by the board of directors.
|
Resolution |
Votes For |
Votes Against |
Votes Abstain/Exclude |
|
1. Approval of the Remuneration |
257,995,644 (67.87 %) |
122,160,822 (32.13 %) |
50,329,309 (1) |
|
2. Conditional Spill Resolution |
1,244,214 (0.33 %) |
379,117,063 (99.67 %) |
50,124,498 (1) |
|
3. Appointment of Director |
399,998,619 (93.00 %) |
30,116,995 (7.00 %) |
370,161 (2) |
|
4. Appointment of Director |
428,219,538 (99.56 %) |
1,896,076 (0.44 %) |
370,161 (2) |
|
5. Appointment of Director |
377,272,547 (87.71 %) |
52,843,095 (12.29 %) |
369,773 (3) |
|
6. Appointment of Director |
395,608,990 (91.98 %) |
34,507,012 (8.02 %) |
369,773 (2) |
|
7. Appointment of Director |
414,089,768 (96.27 %) |
16,026,234 (3.73 %) |
369,773 (2) |
|
8. Appointment of Director |
428,922,452 (99.72 %) |
1,193,550 (0.28 %) |
369,773 (2) |
|
9. Appointment of Director |
428,998,228 (99.74 %) |
1,117,774 (0.26 %) |
369,773 (2) |
|
10. Appointment of Director |
417,197,358 (97.00 %) |
12,893,324 (3.00 %) |
395,093 (2) |
|
11. Re-approval of Omnibus |
306,345,835 (72.66 %) |
115,295,263 (27.34 %) |
8,844,677 (4) |
|
12. Appointment of additional |
430,202,032 (99.57 %) |
1,869,182 (0.43 %) |
364,846 |
Notes:
(1) Represents votes held, directly or indirectly, by Champion’s Key Management Personnel (“KMP”) (as defined by the Corporations Act 2001 (Cth)) and their closely related parties, whether as a shareholder or as a proxy, all of which were excluded from voting (other than if they acted as a proxy casting a directed vote), plus 1,950,285 ordinary shares of the Company which were not voted. This does not include votes exercised by the Chair of the Meeting on the basis of an undirected proxy, where the proxy did not expressly direct the Chair how to vote on the resolution.
(2) Represents ordinary shares of the Company which abstained from voting plus 1,950,285 ordinary shares of the Company which were not voted. This does not include votes exercised by the Chair of the Meeting on the basis of an undirected proxy, where the proxy did not expressly direct the Chair how to vote on the resolution.
(3) Represents ordinary shares of the Company which abstained from voting plus 1,950,645 ordinary shares of the Company which were not voted. This does not include votes exercised by the Chair of the Meeting on the basis of an undirected proxy, where the proxy did not expressly direct the Chair how to vote on the resolution.
(4) Represents votes held, directly or indirectly, by persons who are eligible to participate in the Company’s employment incentive scheme, being the Omnibus Incentive Plan or associates of those persons and Champion’s KMPs and their closely related parties, all of which were excluded from voting (other than if they acted as a proxy casting a directed vote), plus 1,950,285 ordinary shares of the Company which were not voted. This does not include votes exercised by the Chair of the Meeting on the basis of an undirected proxy, where the proxy did not expressly direct the Chair how to vote on the resolution.
At the Meeting, the total number of ordinary shares of the Company represented in person or by proxy was 432,436,060 representing approximately 83.47% of the issued and outstanding ordinary shares of the Company.
A live audio webcast was also available during the meeting and the webcast recording will be accessible shortly through Champion’s website at www.championiron.com/investors/events-presentations.
For further details, visit the Company’s filings on SEDAR+ at www.sedarplus.ca.
About Champion Iron Limited
Champion, through its wholly-owned subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex, located on the south end of the Labrador Trough, approximately 13 km north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentrators that primarily source energy from renewable hydroelectric power. The two concentrators have a combined nameplate capacity of 15 Mtpa and produce low contaminant high-grade 66.2% Fe iron ore concentrate with a proven ability to produce a 67.5% Fe direct reduction quality iron ore concentrate. Benefiting from one of the highest purity resources globally, the Company is investing to upgrade half of the Bloom Lake mine capacity to a direct reduction quality pellet feed iron ore with up to 69% Fe. Bloom Lake’s high-grade and low contaminant iron ore products have attracted a premium to the Platts IODEX 62% Fe iron ore benchmark. The Company ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-Îles, Québec, and has delivered its iron ore concentrate globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to Bloom Lake, Champion owns a portfolio of exploration and development projects in the Labrador Trough, including the Kamistiatusset Project, located a few kilometres south-east of Bloom Lake, and the Cluster II portfolio of properties, located within 60 km south of Bloom Lake.
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