Caledonia trims number of shareholders for AGM

A grader clearing ground at Caledonia

NEW York Stock Exchange-listed Caledonia Mining Corporation (Caledonia) says its annual general meeting set for May 6 would only be convened with the “minimum necessary quorum of two shareholders” due to the outbreak of COVID-19.


“The government of Jersey implemented measures on March 30 2020 intended to protect the public from the spread of COVID-19. The measures, amongst other things, include restricting public gatherings to no more than two people,” the company said in a statement yesterday.

“The measures were due to end before the AGM (annual general meeting). However, on April 24 2020, Jersey’s Minister for Health and Social Services extended the measures until May 11 2020.”

In order to comply with the measure restricting public gatherings, the company’s AGM “will therefore be convened with the minimum necessary quorum of two shareholders, in accordance with the Company’s Articles of Association.”

“Other shareholders will not be allowed to attend and anyone seeking to attend the AGM will be refused entry on the grounds of safety. The business to be transacted remains unchanged from that set out in the Notice of AGM,” it said.

The company said it recognises the importance of the meeting; hence it was keen to ensure that all shareholders could exercise their right to vote notwithstanding the restrictions on attendance in person. “As such, shareholders are strongly encouraged to exercise their vote by appointing the chairman of the AGM or the management nominees (as defined in the proxy form) in accordance with the instructions on the proxy form or other form of instruction that they will have received,” the company said.

“Any other person appointed as a proxy will not be permitted to attend the AGM. The results of voting will be announced as soon as practicable after the conclusion of the AGM.”
In Zimbabwe, Caledonia operates Blanket Mine.