AngloGold Ashanti plc held its Annual General Meeting (AGM) on May 28, 2024. This meeting, held at 9:00 am Mountain Daylight Time, saw the company presenting and voting on various resolutions critical to its governance and operations. The results, which have been published, provide significant insights into the company’s direction and shareholder sentiments.
Overview of Resolutions and Voting Results
Annual Report and Accounts
The first resolution involved the approval of the 2023 Annual Report and Accounts. This resolution saw overwhelming support, with 99.99% of votes in favor. A total of 310,840,109 votes were cast for, while only 32,290 votes were against. There were 1,174,419 abstentions and 6,446,280 broker non-votes.
Director’s Remuneration
Two separate resolutions addressed directors’ remuneration: the Director’s Remuneration Report and the Director’s Remuneration Policy. The Remuneration Report received 85.19% support, with 265,067,666 votes for and 46,080,673 votes against. The Remuneration Policy was slightly more popular, with 94.75% in favor, garnering 294,659,361 votes and facing 16,310,923 votes against.
Election of Directors
Several resolutions focused on the election of directors. Each proposed director was elected with a strong majority. Notable elections include:
- Dr. Kojo Busia: Elected with 99.32% of votes.
- Mr. Alan Ferguson: Secured 94.21% of votes.
- Mr. Albert Garner: Received 98.53% of votes.
- Mr. Ridwaan Gasant: Had a lower majority with 86.23% in favor.
- Mr. Scott Lawson: Elected with 99.76% of votes.
- Ms. Jinhee Magie: Received 99.97% support.
- Ms. Diana Sands: Garnered 99.96% of votes.
- Mr. Jochen Tilk: Secured 94.88% of votes.
- Mr. Alberto Calderon: Elected with 99.97% of votes.
- Ms. Gillian Doran: Received 99.95% of votes.
Appointment and Remuneration of Auditors
The reappointment of PricewaterhouseCoopers LLP as statutory auditors and the ratification of PricewaterhouseCoopers Inc. as independent registered public accountants were significant resolutions. Both saw high approval rates, with the reappointment receiving 99.93% of votes and the ratification securing 99.91% support.
Political Donations
One of the more contentious resolutions was the authorization for the company to make political donations up to £100,000. This resolution passed with 70.87% of votes in favor but faced considerable opposition, with 29.13% voting against it.
Detailed Voting Results
Below is a summary table of the voting results for each resolution:
| Resolution | Votes For | % | Votes Against | % | Abstentions | Broker Non-Votes |
|---|---|---|---|---|---|---|
| Receive 2023 Annual Report and Accounts | 310,840,109 | 99.99 | 32,290 | 0.01 | 1,174,419 | 6,446,280 |
| Approve Director’s Remuneration Report | 265,067,666 | 85.19 | 46,080,673 | 14.81 | 898,479 | 6,446,280 |
| Approve Director’s Remuneration Policy | 294,659,361 | 94.75 | 16,310,923 | 5.25 | 1,076,534 | 6,446,280 |
| Elect Dr. Kojo Busia as Director | 309,028,493 | 99.32 | 2,113,525 | 0.68 | 904,800 | 6,446,280 |
| Elect Mr. Alan Ferguson as Director | 293,157,131 | 94.21 | 18,007,245 | 5.79 | 882,442 | 6,446,280 |
| Elect Mr. Albert Garner as Director | 306,597,871 | 98.53 | 4,570,683 | 1.47 | 878,264 | 6,446,280 |
| Elect Mr. Ridwaan Gasant as Director | 268,324,021 | 86.23 | 42,840,911 | 13.77 | 881,886 | 6,446,280 |
| Elect Mr. Scott Lawson as Director | 310,426,865 | 99.76 | 733,822 | 0.24 | 886,131 | 6,446,280 |
| Elect Ms. Jinhee Magie as Director | 311,079,310 | 99.97 | 82,448 | 0.03 | 885,060 | 6,446,280 |
| Elect Ms. Diana Sands as Director | 311,026,764 | 99.96 | 137,913 | 0.04 | 882,141 | 6,446,280 |
| Elect Mr. Jochen Tilk as Director | 295,177,001 | 94.88 | 15,913,577 | 5.12 | 956,240 | 6,446,280 |
| Elect Mr. Alberto Calderon as Director | 311,064,649 | 99.97 | 95,881 | 0.03 | 886,288 | 6,446,280 |
| Elect Ms. Gillian Doran as Director | 310,995,167 | 99.95 | 160,521 | 0.05 | 891,130 | 6,446,280 |
| Re-appoint PricewaterhouseCoopers LLP as auditors | 317,417,789 | 99.93 | 219,726 | 0.07 | 855,583 | 0 |
| Authorize Audit and Risk Committee to determine audit fees | 310,955,543 | 99.93 | 213,929 | 0.07 | 877,346 | 6,446,280 |
| Ratify PwC Inc. as independent public accountants | 317,366,267 | 99.91 | 271,882 | 0.09 | 854,949 | 0 |
| Authorize political donations up to £100,000 | 220,504,551 | 70.87 | 90,628,965 | 29.13 | 913,302 | 6,446,280 |
Conclusion
The 2024 AGM of AngloGold Ashanti plc highlighted significant shareholder support for the company’s current strategies and leadership. With all resolutions passed, the company is well-positioned to pursue its strategic goals. The strong endorsement of director elections and remuneration policies indicates confidence in the management team. The approval of auditors and the authorization of political donations reflect a proactive approach to governance and regulatory compliance. As AngloGold Ashanti continues its operations, these AGM outcomes will play a pivotal role in shaping its future trajectory.