SouthGobi Announces the Voting Results of the Shareholders’ Meeting
VANCOUVER, July 02, 2021 - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) ("SouthGobi" or the "Company") is pleased to announce the voting results of the annual and special meeting of shareholders of the Company (the "Shareholders' Meeting") held in Vancouver, Canada on June 29, 2021. At the Meeting, the majority of the Company's shareholders voted in favour of the following matters as set out in the Company's management proxy circular dated May 17, 2021 (the "Circular"), a copy of which is available under the Company's profile on SEDAR at www.sedar.com.
The voting results are as follows:
Appointment of Auditors - BDO Limited, Hong Kong, was appointed as auditor of the Company to hold office for the ensuring year or until their successors are appointed. The ordinary resolution was passed by a majority of the votes cast by a show of hands.
| Total votes in favour: | 111,197,956 (100.00%) |
| Total votes withheld: | 0 (0.00%) |
Fixing the Number of Directors - The number of directors to be elected at the Meeting was fixed at eight. The ordinary resolution was passed by a majority of the votes cast by a show of hands.
| Total votes in favour: | 111,197,356 (98.93%) |
| Total votes against: | 1,207,150 (1.07%) |
Election of Directors - The eight director nominees set forth in the Company's Circular were elected as directors to hold office for the ensuing year or until their successors are elected or appointed. The ordinary resolution was passed by a majority of the votes cast by ballot.
| Dalanguerban | votes for: votes withheld: | 111,195,698 (99.9980%) 2,258 (0.0020%) |
| Jianmin Bao | votes for: votes withheld: | 111,194,498 (99.9969%) 3,458 (0.0031%) |
| Zhiwei Chen | votes for: votes withheld: | 111,193,898 (99.9964%) 4,058 (0.0036%) |
| Yingbin Ian He | votes for: votes withheld: | 111,193,898 (99.9964%) 4,058 (0.0036%) |
| Ka Lee Ku | votes for: votes withheld: | 111,195,698 (99.9980%) 2,258 (0.0020%) |
| Ben Niu | votes for: votes withheld: | 111,195,098 (99.9974%) 2,858 (0.0026%) |
| Jin Lan Quan | votes for: votes withheld: | 111,197,266 (99.9964%) 690 (0.0006%) |
| Mao Sun | votes for: votes withheld: | 111,190,266 (99.9994%) 7,690 (0.0069%) |
Employees' and Directors' Equity Incentive Plan - The Company's shareholders reconfirmed and approved all the unallocated options, rights or other entitlements under the Company's Employees' and Directors' Equity Incentive Plan and also approved the maximum number of common shares issuable under the Equity Incentive Plan. The ordinary resolution was passed by a majority of the votes cast by ballot.
| Total votes in favour: | 111,192,088 (98.92%) |
| Total votes against: | 1,212,418 (1.08%) |
About SouthGobi
SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining licences of its other metallurgical and thermal coal deposits in South Gobi region of Mongolia. SouthGobi produces and sells coal to customers in China.
| Contact: | |
| Investor Relations | |
| Office: | +852 2156 1438 (Hong Kong) |
| +1 604 762 6783 (Canada) | |
| Email: info@southgobi.com | |
| Website: www.southgobi.com | |