Rugby Resources Ltd. Updates on Annual General Meeting Results

Rugby Resources Ltd. Shares AGM Outcomes

Rugby Resources Ltd. (TSX-V: RUG) has recently concluded its Annual General & Special Meeting (AGSM), where shareholders gathered to discuss and vote on crucial company matters. This year's meeting saw a robust turnout, with over 80 million common shares voted, representing 25.45% of the company's outstanding shares. The positive engagement shows a solid commitment from investors toward the company's future.

Voting Results Overview

The meeting was marked by a unanimous favoring of all resolutions proposed. This notable approval reflects the shareholders' confidence in the management team and the strategic direction of Rugby Resources. Key votes included the setting of the number of directors at five and the election of incumbent board members.

Election of Directors

During the AGSM, shareholders overwhelmingly supported the re-election of Bryce Roxburgh, Yale Simpson, Robert Reynolds, Cecil Bond, and Paul Joyce to the board. The voting percentages were highly favorable, with the majority of votes for each director exceeding 94%. This strong backing signals the shareholders' approval of the board's performance over the past year and their ongoing commitment to the company's governance.

Financial Oversight and Auditing

Another significant resolution was the appointment of PricewaterhouseCoopers LLP as the auditors for the upcoming fiscal year. The shareholders voted 100% in favor of this motion, emphasizing their desire for robust financial oversight and transparency.

Stock Option and Compensation Plans

In addition to the director elections, shareholders also discussed various compensation plans, including the approval of the Company’s restated stock option plan and the amended restricted share unit compensation plan. The approval rates for these plans were 95.08% and 99.98%, respectively, underlining the investors' support for effective compensation strategies that aim to align with long-term shareholder interests.

Leadership Changes

It was noted that Merfyn Roberts chose not to stand for re-election. However, he will continue to support the board as an advisor. The company expressed gratitude for his years of service and dedication. Such transitions are crucial as they allow for a fresh perspective while retaining valuable experience in the advisory role.

Concluding Remarks and Future Outlook

With all the resolutions passed and a supportive shareholder base, Rugby Resources is well-positioned to continue its strategic initiatives. The leadership remains committed to enhancing shareholder value, focusing on innovative projects and sustainable growth opportunities in the resource sector. As the company moves forward, stakeholders can look forward to continuous updates regarding its developments and operational strategies.

Contact Information

For further inquiries regarding the AGM or any other business matters related to Rugby Resources Ltd., please contact:

Rob Grey, VP Corporate Communications
Suite 1890 – 1075 West Georgia St., Vancouver, BC, Canada, V6E 3C9
Tel: 604-688-4941 | Fax: 604-688-9532
Toll free: 1-855-688-4941
Email: info@rugbyresourcesltd.com

Frequently Asked Questions

What was the main outcome of Rugby Resources Ltd.'s AGM?

The AGM resulted in the re-election of all current directors and the approval of several key resolutions including compensation plans.

Who were re-elected to the Board of Directors?

Bryce Roxburgh, Yale Simpson, Robert Reynolds, Cecil Bond, and Paul Joyce were re-elected at the meeting.

What percentage of shareholders participated in the voting?

Approximately 25.45% of the company's outstanding shares were voted, reflecting active engagement from shareholders.

What auditing firm was appointed during the AGM?

PricewaterhouseCoopers LLP was appointed as the auditors for the upcoming fiscal year, receiving 100% approval.

Is there any leadership change within the company?

Merfyn Roberts has stepped down from the board but will continue to provide guidance as an advisor.

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