|By Marketwired .||
|July 2, 2014 03:27 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/02/14 -- Lydian International Limited (TSX: LYD) ("Lydian" or the "Company") is providing a summary of the voting results from its 2014 Annual General Meeting of shareholders (the "Meeting") held on Thursday June 26, 2014 in Toronto, Ontario.
Results of the AGM
A summary of the voting results is as follows:
Total shares voted: 78,024,026 Total shares issued: 152,153,926 Total percentage of shares voted: 51.28%
Election of Directors
Each of the individuals nominated by management for election as a director of the Company was elected as a director at the Meeting. Voting with respect to the election of directors was carried out by ballot and the results are as follows:
Name of Nominee Vote For % Withheld Vote % Gordon Wylie 73,638,948 97.79 1,664,878 2.21 Howard H. J. Stevenson 74,237,726 98.58 1,066,100 1.42 Willan J. Abel 74,230,726 98.57 1,073,100 1.43 Timothy Read 75,270,226 99.96 33,600 0.04 Stephen J. Altmann 75,243,426 99.92 60,400 0.08 Vahan Kololian 75,277,426 99.96 26,400 0.04
Howard Stevenson, President and Chief Executive Officer, stated, "We are pleased with the overwhelming support from Lydian's shareholders. We have a strong, independent Board that represents the geographic dispersion of our shareholders and has the breadth of experience needed as we move forward with the Amulsar Gold Project."
Re-Appointment of Auditors
The voting results with respect to the re-appointment of the Company's auditors are as follows:
Name of Auditors Vote For % Withheld Vote % Grant Thornton LLP 77,998,211 99.97 19,815 0.03
Amendment to the Company's Articles of Association
The Company's shareholders also passed the resolutions with respect to certain amendments to the Company's articles of association, as set out in the Company's management information circular dated May 27, 2014. Voting with respect to the amendments was carried out by ballot and the results are as follows:
Vote For % Against % 62,487,339 82.99 12,8111,487 17.01
About Lydian International
Lydian is a gold-focused mineral development company pursuing large, high-quality resources in emerging and transitional geopolitical regions. Currently, Lydian is focused on Eastern Europe, primarily in the Caucasus region. The Company's main project is the Amulsar Gold Project located in Armenia. Amulsar was discovered by the Company in 2006. Following several years of exploration, Lydian published an initial feasibility study (September 2012) and began early-stage permitting and development activities. Management's current priorities are to receive required permits and secure funding necessary to commence construction and ultimately to bring the Amulsar Gold Project into production. In particular, the Company is continuing its ongoing permitting process and, as part of this process, is working to complete an updated feasibility study and mine plan, the environmental impact assessment, an environmental and social impact assessment, and detailed engineering studies. Initial activities to arrange project financing are also ongoing.
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