Mag Silver shareholders re-elect seven directors
posted on
Jun 25, 2014 11:36PM
A project so robust that we can mess up and still make a lot of money
Mag Silver shareholders re-elect seven directors
2014-06-25 16:34 ET - News Release
Mr. George Paspalas reports
MAG SILVER REPORTS VOTING RESULTS FROM THE AGSM
At the annual general and special meeting (AGSM) held on June 24, 2014, Mag Silver Corp.'s shareholders approved by majority to decrease the size of the board to seven, elect all seven directors standing for re-election, reappoint Deloitte LLP as the company's auditor and approve the company's equity compensation plans.
The board of directors wishes to extend its gratitude to Dr. Peter Megaw, Eric Carlson and Frank Hallam, all of whom did not stand for re-election as directors for the ensuing year. Each of these directors has been instrumental in Mag's successes to date, and, in particular, in the initial recognition of the value of property positions assembled at Juanicipio and elsewhere by the company. Jonathan Rubenstein, chairman of Mag, said: "These individuals have been an integral part of the early and continued growth of the company, and our shareholders have benefited greatly from their expertise, perseverance and commitment. The board thanks them for their dedicated years of service, and wishes each of them continued success in their future endeavours." The company will maintain its close relationship with Dr. Megaw, who will continue to lead its exploration efforts, and Mr. Hallam will remain accessible to the Mag Silver finance committee.
Detailed results of the votes held by ballot at the AGSM are set out in the attached table.
Total votes Votes % Nominee cast Votes for % for withheld withheld George N. Paspalas 35,831,724 35,659,529 99.52 172,195 0.48 Daniel T. MacInnis 35,831,724 35,561,749 99.25 269,975 0.75 Jonathan A. Rubenstein 35,831,724 35,538,010 99.18 293,714 0.82 Richard M. Colterjohn 35,831,724 35,716,871 99.68 114,853 0.32 Derek C. White 35,831,724 31,866,236 88.93 3,965,488 11.07 Richard P. Clark 35,831,724 29,940,359 83.56 5,891,365 16.44 Peter D. Barnes 35,831,724 35,643,406 99.47 188,318 0.53 Seconded amended and restated stock option plan 45,577,917 32,481,187 71.27 13,096,730 28.73 Share unit plan 45,577,917 35,326,346 77.51 10,251,571 22.49 Directors' deferred share unit plan 45,577,917 35,340,665 77.54 10,237,252 22.46
George Paspalas, chief executive officer and president of Mag Silver, extends his thanks to the shareholders of the company for their show of support.