|By Marketwired .||
|February 13, 2014 11:44 AM EST||
VANCOUVER, BRITISH COLUMBIA and NEW YORK CITY, NEW YORK -- (Marketwired) -- 02/13/14 -- Laurel Hill Advisory Group congratulates Monument Mining Limited on the successful outcome at its Annual General Meeting held on February 7, 2014 in Vancouver, B.C. The meeting had a record high turnout of shareholders representing approximately 75% of its issued shares eligible to vote at the meeting. As noted below, shareholders at the meeting approved, among other things, the fixing of the number of directors at seven and the election to the Board of the seven Monument nominees who received the most votes. When the submitted management and dissident proxies were tabulated, a large majority supported the management nominees - despite the Company's largest shareholder, GoldMet B.V., supporting the dissident slate of directors.
"We'd like to thank the shareholders for their support and look forward to continuing to work on the growth and development of the Company and its mining projects with this support," said Robert F. Baldock, Monument's President and CEO. "Everyone worked very hard to achieve our success at the meeting. We greatly appreciate the efforts of the Laurel Hill Advisory Group, our proxy solicitor, in ensuring that the Company's shareholders were heard."
"We were pleased to contribute to the success of Monument's contested meeting," added David Salmon, Laurel Hill's Senior Vice President. "Working with Monument's team on an ongoing basis was very beneficial in generating the record results. Clearly, these positive results demonstrate the confidence the shareholders have in the Board and management of Monument Mining."
Further information concerning the results of the meeting is set out below.
Board of Directors
At the meeting, shareholders elected the following of management's nominees as directors for the ensuing year: George Brazier, Robert F. Baldock, Cathy Zhai, Zaidi Harun, Gerald Ruth, Frank Wright and Graham Dickson. Director nominee Jean-Edgar de Trentinian received the fewest "for" votes of the eight management nominees. Given the shareholder-approved motion to set the number of directors at seven, Mr. de Trentinian was not elected to the Board.
Shareholders re-appointed Grant Thornton LLP, Chartered Accountants, to serve as the Company's auditors for the ensuing year and authorized the directors to fix the auditor's compensation.
Stock Option Plan and Grant of Stock Options
The adoption by the Company of a fixed stock option plan, as described in the Information Circular disseminated in connection with the meeting, was approved by shareholders. The grant by the Company of additional stock options was not approved.
Monument Mining Limited is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia, with production cash costs among the lowest in the industry. Its experienced management team is committed to growth and is advancing several exploration and development projects in Malaysia, including the 100% owned, development stage, Mengapur Polymetallic Project. The Company employs 330 people in Malaysia and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities.
About The Laurel Hill Advisory Group, LLC
The Laurel Hill Advisory Group, LLC is an independent Corporate Advisory firm offering Shareholder Communication services specializing in Proxy Solicitation, Asset Recovery programs and Risk Mitigation consulting. With offices in Toronto, Vancouver and New York Laurel Hill has the reach and expertise to help capitalize on cross border transactional activities to a growing portfolio of Fortune 500 companies on both sides of the border including Micro Cap and Small Cap issuers as well.
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