Notice of Annual General Meeting
The Company announces that its Annual General Meeting
will be held on Thursday 13 June 2024, at the offices of Travers
Smith LLP, 10 Snow Hill, London EC1A 2AL, England at 2.00 pm (BST).
The Company has published the formal notice of the meeting (the
“Notice”) on its website which can be accessed using the following
link https://bit.ly/3QEicj1. Proxy voting forms
are being posted to all shareholders providing details of how to
access the Notice and instructions for voting. A copy of the Notice
together with proxy voting forms is being posted to all
shareholders who are required to receive or have formally requested
to receive these documents.
The Notice contains a letter from the Chairman
of the Company, Mr Michael Lynch-Bell, which is set out below in
Appendix 1.
The person who arranged for the release of this
announcement on behalf of the Company was Clive Line, Director.
Enquiries
SERABI GOLD plcMichael
Hodgson t
+44 (0)20 7246 6830Chief
Executive m
+44 (0)7799 473621
Clive
Line t
+44 (0)20 7246 6830Finance
Director m
+44 (0)7710 151692
Andrew Khov
m
+1 647 885 4874Vice President, Investor Relations & Business
Development e
contact@serabigold.com
www.serabigold.com
BEAUMONT CORNISH LimitedNominated
Adviser & Financial AdviserRoland Cornish / Michael
Cornish t
+44 (0)20 7628 3396PEEL HUNT LLPJoint UK
BrokerRoss
Allister t
+44 (0)20 7418 9000
TAMESIS PARTNERS LLPJoint UK
BrokerCharlie Bendon/ Richard
Greenfield t
+44 (0)20 3882 2868
CAMARCOFinancial PR -
EuropeGordon Poole / Emily
Hall t
+44 (0)20 3757 4980
HARBOR ACCESS Financial PR – North
AmericaJonathan Patterson / Lisa
Micali t
+1 475 477 9404
Copies of this announcement are available from
the Company's website at www.serabigold.com.
Neither the Toronto Stock Exchange, nor any
other securities regulatory authority, has approved or disapproved
of the contents of this announcement.
See
www.serabigold.com for more information
and follow us on twitter @Serabi_Gold
Appendix 1
The letter from the Chairman of the Company
included in the Notice is reproduced below (without material
adjustment or amendment):
“Dear Shareholder
This document provides the formal notice (the
"Notice") of the 2024 Annual General Meeting of the Company to be
held at the offices of Travers Smith LLP, 10 Snow Hill, London EC1A
2AL England on 13 June 2024 at 2.00 p.m. (London time) (the "AGM").
The purpose of the AGM is to seek Shareholders' approval of the
resolutions.
Action to be taken by
Shareholders
A form of proxy for use by Shareholders
accompanies this document. To be valid, forms of proxy must be
completed and returned so as to be received at either the offices
of the Company's UK Registrar, Computershare Investor Services Plc,
The Pavilions, Bridgwater Road, Bristol, BS99 6ZZ or the offices
ofthe Company's Canadian Registrar, Computershare Investor Services
Inc., 100 University Avenue, 8th Floor, Toronto, Ontario M5J 2Y1 by
not later than 2.00 p.m. (London time) (9.00 a.m. Eastern time) on
11 June 2024. Alternatively, Shareholders can appoint a proxy
electronically by going to either www.investorcentre.co.uk/eproxy
(for UK appointments) or www.investorvote.com (for Canadian
appointments) or, if they hold their shares in CREST, Shareholders
can appoint a proxy using the CREST electronic proxy appointment
service, in each case by not later than not later than 2.00 p.m.
(London time) (9.00 a.m. Eastern time) on 11 June 2024 in
accordance with the instructions set out in the "Proxy
Instructions" section below and the form of proxy.
Completion and return of a form of proxy will
not prevent Shareholders from attending and voting in person at the
AGM should they so wish.
Beneficial Shareholders (as defined in the
"Voting by Beneficial Shareholders" section below on page 10)
should note that only registered Shareholders or their duly
authorised proxy holders are entitled to vote at the AGM. Each
Beneficial Shareholder should ensure that their voting instructions
are communicated to the appropriate person well in advance of the
AGM.
Electronic Communications
The Company actively encourages all shareholders
to register for the electronic communications service. UK
Shareholders can elect for electronic communications and manage
their shareholdings online at www.investorcentre.co.uk. Canadian
shareholders can enrol to receive future securityholder
communications electronically by visiting
www.investorcentre.com.
Background
As I noted in our Annual Report, 2023 was a year
in which the Group achieved some key milestones and 2024 has
started well. We are on track with our plans for the current year
which will build the platform for further future growth.
Key to this remains the development of Coringa
and the installation of the crushing plant and ore-sorter which is
a significant element in the growth of the Group’s gold production
for 2025 and thereafter. The ore-sorter cleared Brazilian customs
during April and I am now pleased to report that it has arrived at
site and work on the necessary civil works for its installation and
commissioning later this year are underway. At the same time the
crushing plant is also being prepared for installation.
Since the publication of our Annual Report at
the end of April there has been little further movement in the
licencing process. The latest version of the Indigenous Impact
Study (“ECI”) has been submitted to the government agency for
indigenous communities (“FUNAI”) as we continue the steps required
in the consultation process with those indigenous communities.
In the past week I met with representatives of
the Instituto Kabu, an association of the Kayapó Mebêngôrokre
Indigenous community from the Baú and Menkragnoti Indigenous Lands,
situated in the state of Para. It was a good conversation allowing
us to further our understanding of the issues faced by the
indigenous communities and assist in identifying solutions that can
help meet their needs.
Whilst we have challenges ahead and the next six
months will be pivotal in our plans, we have a dedicated and
experienced team to steer us through this. I look forward to
reporting further progress on 13 June.
The matters being considered at the 2024 Annual
General Meeting, as set out in the Notice, are items that are
routinely considered at such meetings.
I am very much looking forward to meeting with
shareholders at the AGM and having the opportunity to discuss with
them my hopes and expectations for Serabi for the coming years.
Canadian Designated Foreign Issuer
Status
The Company is a "designated foreign issuer" for
the purposes of Canadian Securities Administrators’ National
Instrument 71-102 - Continuous Disclosure and Other Exemptions
Relating to Foreign Issuer ("NI 71-102") and, as such, the Company
is not subject to the same ongoing reporting requirements as most
other reporting issuers in Canada. Generally, the Company complies
with Canadian ongoing reporting requirements by complying with the
regulatory requirements of AIM, which is a "foreign regulatory
authority" (as defined in NI 71-102), and filing any documents
required to be filed with or furnished to AIM with the securities
regulatory authorities in Canada.
Recommendation and importance of
vote
The Directors consider that the resolutions set
out in the Notice being put to the AGM are in the best interests of
the Company and its Shareholders and are most likely to promote the
success of the Company for the benefit of the Shareholders as a
whole.
Accordingly, the Directors unanimously recommend
that Shareholders vote in favour of the proposed resolutions as
they intend to do in respect of their own holdings, where relevant,
amounting to an aggregate of 143,398 Ordinary Shares, representing
approximately 0.2% of the Company's Ordinary Shares in issue at the
date of this document.
Yours faithfully
(Signed) "Michael D Lynch-Bell"Michael D
Lynch-BellNon-executive Chairman”
Assay ResultsAssay results reported within this
release are those provided by the Company's own on-site laboratory
facilities at Palito and have not yet been independently verified.
Serabi closely monitors the performance of its own facility against
results from independent laboratory analysis for quality control
purpose. As a matter of normal practice, the Company sends
duplicate samples derived from a variety of the Company's
activities to accredited laboratory facilities for independent
verification. Since mid-2019, over 10,000 exploration drill core
samples have been assayed at both the Palito laboratory and
certified external laboratory, in most cases the ALS laboratory in
Belo Horizonte, Brazil. When comparing significant assays with
grades exceeding 1 g/t gold, comparison between Palito versus
external results record an average over-estimation by the Palito
laboratory of 6.7% over this period. Based on the results of this
work, the Company's management are satisfied that the Company's own
facility shows sufficiently good correlation with independent
laboratory facilities for exploration drill samples. The Company
would expect that in the preparation of any future independent
Reserve/Resource statement undertaken in compliance with a
recognised standard, the independent authors of such a statement
would not use Palito assay results without sufficient duplicates
from an appropriately certificated laboratory.
Forward-looking statementsCertain statements in
this announcement are, or may be deemed to be, forward looking
statements. Forward looking statements are identified by their use
of terms and phrases such as ‘‘believe’’, ‘‘could’’, “should”
‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘will’’
or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking
statements are not based on historical facts but rather on the
Directors’ current expectations and assumptions regarding the
Company’s future growth, results of operations, performance, future
capital and other expenditures (including the amount, nature and
sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect
the Directors’ current beliefs and assumptions and are based on
information currently available to the Directors. A number of
factors could cause actual results to differ materially from the
results discussed in the forward-looking statements including risks
associated with vulnerability to general economic and business
conditions, competition, environmental and other regulatory
changes, actions by governmental authorities, the availability of
capital markets, reliance on key personnel, uninsured and
underinsured losses and other factors, many of which are beyond the
control of the Company. Although any forward-looking statements
contained in this announcement are based upon what the Directors
believe to be reasonable assumptions, the Company cannot assure
investors that actual results will be consistent with such forward
looking statements.
Qualified Persons StatementThe scientific and
technical information contained within this announcement has been
reviewed and approved by Michael Hodgson, a Director of the
Company. Mr Hodgson is an Economic Geologist by training with over
30 years' experience in the mining industry. He holds a BSc (Hons)
Geology, University of London, a MSc Mining Geology, University of
Leicester and is a Fellow of the Institute of Materials, Minerals
and Mining and a Chartered Engineer of the Engineering Council of
UK, recognizing him as both a Qualified Person for the purposes of
Canadian National Instrument 43-101 and by the AIM Guidance Note on
Mining and Oil & Gas Companies dated June 2009.
NoticeBeaumont Cornish Limited, which is
authorised and regulated in the United Kingdom by the Financial
Conduct Authority, is acting as nominated adviser to the Company in
relation to the matters referred herein. Beaumont Cornish Limited
is acting exclusively for the Company and for no one else in
relation to the matters described in this announcement and is not
advising any other person and accordingly will not be responsible
to anyone other than the Company for providing the protections
afforded to clients of Beaumont Cornish Limited, or for providing
advice in relation to the contents of this announcement or any
matter referred to in it.
Neither the Toronto Stock Exchange, nor any other securities
regulatory authority, has approved or disapproved of the contents
of this news release
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