OceanaGold Reports Voting Results of Annual General Meeting

Rhea-AI Summary

OceanaGold held its 2024 Annual General and Special Meeting of Shareholders virtually on June 6, 2024.

A total of 448,417,017 common shares were voted, representing 63.05% of the total outstanding shares. Shareholders voted in favor of all business items, including the re-election of directors, appointment of auditors, and executive compensation. Notably, directors received high approval rates, with Gerard M Bond receiving the highest at 99.81%.

The appointment of PricewaterhouseCoopers LLP as auditors was approved with 93.80% of votes. Additionally, a non-binding advisory vote on executive compensation and a new Performance Share Rights Plan were passed with 98.77% and 93.44% approval, respectively.

Positive

• High shareholder participation with 63.05% of outstanding shares voted.
• All directors were re-elected, indicating strong shareholder confidence.
• Gerard M Bond received the highest approval rate of 99.81%.
• PricewaterhouseCoopers LLP was reappointed as auditors with 93.80% approval.
• Executive compensation was approved by 98.77% of votes, showing strong support for current management.
• Performance Rights Share Plan was approved by 93.44%, indicating shareholder support for long-term incentive strategies.

Negative

• Ian M Reid received the lowest approval rate among directors at 70.29%, which may indicate some shareholder concerns.
• A significant number of shares (29.71%) were withheld or abstained from voting for Ian M Reid.

VANCOUVER, BC, June 6, 2024 /PRNewswire/ - OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) ("OceanaGold" or the "Company") is pleased to report the voting results from the Company's 2024 Annual General and Special Meeting of Shareholders ("Annual Meeting") held virtually today.

A total of 448,417,017 common shares were voted at the meeting, representing 63.05% of the votes attached to all the outstanding common shares. Shareholders voted by ballot in favour of each of the items of business at the Annual Meeting as follows:

1   Election of Directors

Resolutions re-electing each of Paul Benson, Ian M Reid, Craig J Nelsen, Sandra M Dodds, Alan N Pangbourne, Linda M Broughton and Gerard M Bond as directors of the Company were passed by ordinary resolution.

The votes submitted for each director were as follows:

Directors	Votes For	%	Votes Withheld / Abstain	%
Paul Benson	358,127,765	81.07 %	83,633,455	18.93 %
Ian M Reid	310,523,652	70.29 %	131,237,566	29.71 %
Craig J Nelsen	426,994,017	96.66 %	14,767,202	3.34 %
Sandra M Dodds	371,526,717	84.10 %	70,234,503	15.90 %
Alan N Pangbourne	426,890,960	96.63 %	14,870,259	3.37 %
Linda M Broughton	427,036,197	96.67 %	14,725,023	3.33 %
Gerard M Bond	440,923,483	99.81 %	837,737	0.19 %

2   Appointment of Auditors

A resolution appointing PricewaterhouseCoopers LLP, Chartered Accountants, as the auditor of the Company until the close of the Company's next annual meeting of shareholders and authorizing the board of the Company to fix their remuneration was approved by ordinary resolution. 

Votes For	%	Votes Withheld	%
420,421,243	93.80 %	27,806,361	6.20 %

Non-Binding Advisory Vote on Executive Compensation

A non-binding resolution on the Company's approach to Executive compensation was passed by ordinary resolution.

Votes For	%	Votes Against	%
436,308,214	98.77 %	6,655,799	1.23 %

3   Performance Share Rights Plan

A resolution on the Company's adoption of Performance Rights Share Plan was passed by ordinary resolution. 

Votes For	%	Votes Against	%
412,796,632	93.44 %	28,964,587	6.56 %

About OceanaGold

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand. 

www.oceanagold.com

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SOURCE OceanaGold Corporation

FAQ

What were the results of OceanaGold's 2024 Annual General Meeting?

All business items were approved, including the re-election of directors, appointment of auditors, and executive compensation.

How many shares were voted at OceanaGold's 2024 Annual Meeting?

A total of 448,417,017 common shares, representing 63.05% of outstanding shares, were voted.

Who received the highest approval rate among OceanaGold directors?

Gerard M Bond received the highest approval rate at 99.81%.

What was the approval rate for the appointment of auditors at OceanaGold's Annual Meeting?

PricewaterhouseCoopers LLP was approved as auditors with 93.80% of votes.

What was the result of the vote on executive compensation at OceanaGold's Annual Meeting?

The executive compensation was approved by 98.77% of votes.

Was the Performance Share Rights Plan approved at OceanaGold's 2024 Annual Meeting?

Yes, the Performance Share Rights Plan was approved with 93.44% of votes.

Which OceanaGold director received the lowest approval rate in 2024?

Ian M Reid received the lowest approval rate among directors at 70.29%.