LONDON - Orosur Mining (LON:OMIN) Inc. (AIM/TSXV: OMI), a South American-focused minerals explorer and developer, announced that its Annual General Meeting (AGM) held on Thursday resulted in the approval of all proposed resolutions, including the appointment of directors and the issuance of Deferred Share Units (DSUs) in lieu of stock options.
During the AGM, about 20.8% of the company's issued and outstanding common shares were represented, with the majority of votes cast in favor of the set agenda. Notably, 99.64% of votes supported fixing the number of directors at four, and the election of Louis Castro, Bradley George, Thomas Masney, and Nick von Schirnding as directors received approval rates ranging from 99.50% to 99.73%.
The shareholders also endorsed the appointment of Baker Tilly WM LLP as the company's auditors and authorized the board to determine their remuneration, with a 99.85% vote in favor. Additionally, the cancellation of existing stock options and the issuance of DSUs as part of the company's Equity Incentive Plan was approved with a 99.57% majority.
Following the AGM, Orosur granted 970,000 DSUs to replace 3,440,000 canceled stock options. Louis Castro received 850,000 DSUs, bringing his total holdings to 1,800,000 options and 850,000 DSUs. Nick von Schirnding was granted 120,000 DSUs, now holding 450,000 options and 120,000 DSUs. The new DSU issuance and option cancellation leave the company with 10,988,332 shares under option, RSUs, and DSUs, representing 4.6% of the non-diluted issued share capital.
Furthermore, the company reminded shareholders of an upcoming live Investor Q&A session scheduled for December 16, 2024, where Chairman Louis Castro and CEO Brad George will address shareholder inquiries. The session will be accessible through the Investor Meet Company platform, with pre-event questions accepted until the morning of the meeting.
This announcement is based on a press release statement from Orosur Mining Inc. and includes the most pertinent information regarding the AGM outcomes and subsequent DSU grants.
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