World number-four gold miner Gold Fields on Tuesday held its annual general meeting, which saw shareholders holding more than 70% of the group’s 492,033-million shares represented.
Gold Fields shareholders voted on 10 ordinary resolutions and two special resolutions.
Nine of the 10 ordinary resolutions were passed and one out of two of the special resolutions were passed.
All five of the group’s directors that were up for re-election were successfully re-elected. The directors are Gold Fields chairperson Chris Thompson, Ghana’s Kofi Ansah, Gordon Parker, Tokyo Sexwale and Dr Patric Ryan.
The two resolutions that were not passed required a 75% majority, as per JSE Securities Exchange listing requirements.
The one ordinary resolution that was not passed asked Gold Fields shareholders to give the group’s directors the authority to issue shares for cash.
The special resolution that was not passed asked Gold Fields shareholders to indemnify every director, manager, secretary and officer of Gold Fields out of the funds of the company against all liabilities incurred by him or her.
Gold Fields shareholders also authorised the increase in directors’ fees, with Thompson getting an annual retainer of R1-million rand for 2005, as well as a R1,167-million retainer for the period from March 1 2004 to December 31 2004.
Each member of Gold Fields’ board, excluding Thompson, was voted an annual retainer of R100 000 rand, while chairpersons of the respective board committees were voted a retainer of R80 000 each. — I-Net Bridge