Centamin shareholders vote against reappointment of Schultz

Centamin shareholders voted against the reappointment of board member Trevor Schultz at today's Annual General Meeting.

The Company said it has considered the reasons for the votes against the resolution to re-elect Mr Schultz and believes that these relate primarily to his appointment to the remuneration committee in September 2016 - 23% of shareholders also voted against approving the remuneration report.

An explanation of this appointment, and the resulting non-compliance with the Code due to Trevor Schultz being considered by the Code to be non-independent, was provided in the 2016 Annual Report.

However, the Company recognises that this explanation has not been accepted by a number of proxy advisory groups and shareholders.

At 1:52pm: (LON:CEY) Centamin PLC share price was +2.35p at 179.05p