Premier African Minerals Limited (PREM.L) Earnings Call Transcript & Summary

All right, ladies and gentlemen, good afternoon to you. I think that we're going to proceed in any event with the meeting, if I may. And in calling this meeting to order and [ open ] it, may I just welcome, everybody, who has joined us. Thank you very much indeed. We have 137 attendees at the moment that is digitally and present. We have some of our PREM staff, [indiscernible] is present, Tomas Apetauer is present, the CFO. I know that Brendan Roach is present and most importantly, on a link and able to speak as well from his office in Harare is our Chairman,Godfrey Manhambara. So a special welcome to all of those present. And I would now like to declare this meeting formally open. And as there is a quorum of members present, that we can actually proceed with the business of the meeting. I am able to take questions from those present. And in terms of those present, are there any particular questions in regard to this before I proceed. Okay. So the meeting is [ carried ] and I'm going to proceed with the meeting -- the business of the meeting to be conducted. Now -- and just let me just make a point that with the consent of the meeting, I'm taking the notice of the meeting as read. I think that we've all received it. So I'm not going to go through the formality of reading the notice of the meeting. Proxy counts for all resolutions to be proposed at the meeting are available at the registration desk, which is in our offices here at the moment and can be inspected. I would like to put the resolutions formally to the meeting. And I think the resolutions have been clearly set out. I might add that I did receive 1 letter of representation for Mr. Paul Andrew Carsley to intend, speak and vote. Unfortunately, Mr. Carsley is not present at this time, but we have noted and I will make reference to that letter of representation and the number of votes contained therein in relation to the count after each of the resolutions are put. So the first resolution is an ordinary resolution to reappoint Dr. Luo Wei, who is retiring by rotation as a director. To those present, are there any particular questions. No questions. And I would like to put that resolution to the meeting. In doing so, I need to note that as Chairman, I hold 8 proxies totaling 12,272,384,643 votes in favor of this resolution, repeat that again, 12,272,384,643 votes in favor of the resolution, and I hold 24,951,189 against. On the show of hands, and on account of proxies, that motion is carried. And I declare resolution 1 pass as an ordinary resolution of the company. In terms of resolution 2, this is a special resolution that is conditional on the passing and is conditional on the passing a resolution to approve the period commencing and I'm going to read this the period commencing 24 months following the date of this AGM period, the disapplication of the preemptive provisions set out in regulation 1.5 of the company's Articles of Association in relation to the issue of all the grant of any right to subscribe for or convert any security into up to a further 4 billion, 5 billion ordinary shares and to authorize the directors of the company to issue or grant any right to subscribe for or convert any security into shares in accordance with the provisions of this resolution. But so the company may make offers and enter into agreements during the period for which would or might require shares to be allotted or rights to subscribe for or convert other securities into shares to be granted after the period ends. Are there any questions in relation to this? I propose Resolution 2. Favor and against. As Chairman, I hold 8 proxies totaling [ 12,185,152,708 ] votes in favor of this resolution and 119, 846,717 against. On the basis of the proxies the show of hands, this resolution is carried, and I note that it is carried as a special resolution. So I declare resolution passed as a special resolution of the company. In terms of the formal business of the meeting, ladies and gentlemen, that concludes the formal business of the meeting. I would like to just come back and just mention for purposes of this meeting, that the notice that I held in relation to an authority for a person attending who has not attended was in relation to 15,761,500 shares. Now, I have no indication as to which way those would have been voted. However, I think that the point should be taken that would not have influenced either way, either of the resolutions that have been put to this meeting and have been passed. The other comment that I'd like to make in relation to this and before I close the meeting, is that -- this is overwhelming support for the resolutions that have been proposed. And the company is deeply indebted and most appreciative to our body of shareholders as a whole and I think that I should include a special thank you to our offtake partners in relation to this as well. Okay, I have no further comments that I wish to make. Our Chairman, Mr. Manhambara, is online. And if there are any comments that you would like to add to it, the floor is yours. And if you do Mr. Manhambara, I would have to ask you to unmute if you wanted to add anything to this. Alternatively, we will proceed to a closing of the meeting.

Thanks, George, and good afternoon, ladies and gentlemen. Those that are present. I think I just wanted to reiterate the point you made that as a company and as your Board, we are extremely grateful for the support that has been extended to us and the company through the passing of these resolutions. I know we have had some challenging times, but the support that you continue to show to the Board and the company speaks volumes. And for that, we are extremely and eternally grateful. So thank you very much for that. Thanks very much.

Thank you, indeed, Godfrey. And with that, we -- that concludes the formal business of the meeting. I may just say before we do end this that there will be an appropriate RNS that will be released in the very near future. And I know that there is an expectation of some comments in relation to the stake at Zulu and those will be reported in some detail in terms of that. Having formally closed this meeting, which is now formally closed, to those and to [indiscernible], if you have any specific questions you may have. I'm prepared to comment on them. All right. Ladies and gentlemen, I'm then going to thank you all very much for attending this. And I'm going to call this to an end. I'm going to -- just as I say, I've expressed my thank you and my gratitude on a number of occasions. Premier's commitment remains a very deep commitment to this project and to making this thing work and to generating the returns that I think all of us as shareholders are entitled. Thank you very much indeed and with that I'm going to end the meeting. Thank you.