Karelian Diamond Resources Plc - Result of extraordinary general meeting

Karelian Diamond Resources Plc - Result of extraordinary general meeting

PR Newswire

London, October 18

Dissemination of a regulatory announcement that contains inside information according to Regulation (EU) No 596/2014 (MAR).

Karelian Diamond Resources plc

("Karelian Diamonds" or "the Company")

18 October 2019

Result of extraordinary general meeting

Karelian Diamonds announces that at the Extraordinary General Meeting of the Company held earlier today, a poll was taken on each of the resolutions proposed. Resolutions 1 to 5 pertaining to the removal of Professor Richard Conroy, Maureen Jones, Seamus Fitzpatrick, Louis Maguire and Dr. Sor?a Conroy were not passed. Resolutions 6 to 9 pertaining to the appointment of Alan Osborne, Stephen Grimmer, Martin Doyle and Kevin Taylor were not passed.

Accordingly the board of the Company will remain unchanged and be composed of Professor Richard Conroy (Chairman), Maureen Jones (Managing Director), Seamus Fitzpatrick (Non-Executive Director), Louis Maguire (Non-Executive Director), Dr Sor?a Conroy (Non-Executive Director), Brendan McMorrow (Non-Executive Director) and Howard Bird (Non-Executive Director).

The results of each resolution are set out below and will also be available on the Company's website shortly.

Resolution	Detail	For (%)	For Number of Shares	Against (%)	Against Number of Shares
1	That Professor Richard Conroy be and is hereby removed from office as a director of the Company in accordance with Section 146 of the Companies Act 2014 with effect from the end of the Extraordinary General Meeting	39.73%	11,318,624	60.27%	17,168,611
2	That Maureen Jones be and is hereby removed from office as a director of the Company in accordance with Section 146 of the Companies Act 2014 with effect from the end of the Extraordinary General Meeting	41.14%	11,719,100	58.86%	16,768,135
3	That Seamus Fitzpatrick be and is hereby removed from office as a director of the Company in accordance with Section 146 of the Companies Act 2014 with immediate effect	41.14%	11,719,100	58.86%	16,768,135
4	That Louis Maguire be and is hereby removed from office as a director of the Company in accordance with Section 146 of the Companies Act 2014 with immediate effect	41.14%	11,719,100	58.86%	16,768,135
5	That Dr. Sor?a Conroy be and is hereby removed from office as a director of the Company in accordance with Section 146 of the Companies Act 2014 with immediate effect	41.14%	11,719,196	58.86%	16,768,039
6	That Alan Osborne be appointed as director with immediate effect	41.14%	11,719,225	58.86%	16,767,958
7	That Stephen Grimmer be appointed as director with immediate effect	41.14%	11,719,142	58.86%	16,768,093
8	That Martin Doyle be appointed as director with immediate effect	41.14%	11,719,225	58.86%	16,768,010
9	That Kevin Taylor be appointed as director with immediate effect	39.73%	11,318,666	60.27%	17,168,569

Votes "For" and "Against" are expressed as a percentage of votes received. A "Vote withheld" is not a vote in law and is not counted in the calculation of the votes "For" and "Against" a resolution. Votes were cast for a total of 28,487,235 ordinary shares of €0.00025, representing 71.14% of the total number of votes capable of being cast at the EGM for every resolution. The Company's issued share capital as at today's date is 40,042,749 ordinary shares and the number of votes per share is one. Each of the resolutions were proposed as ordinary resolutions. 52 votes were withheld for resolution 6 and nil were withheld for all other resolutions.

For further information please contact:

Karelian Diamond Resources plc	Tel: [phone]
Professor Richard Conroy, Chairman
Allenby Capital Limited(Nomad)	Tel: [phone]
Nick Athanas/Nick Harriss
Brandon Hill Capital Limited (Broker)	Tel: [phone]
Jonathan Evans
Lothbury Financial Services	Tel: [phone]
Michael Padley
Hall Communications	Tel: [phone]
Don Hall