Response to Cornerstone Intention to Requisition a General Meeting
The Board of SolGold plc (LSE & TSX: SOLG) notes the announcement today by Cornerstone Capital Resources Inc. (“Cornerstone”) of its intention to requisition a General Meeting of SolGold shareholders under Section 303 of the United Kingdom’s Companies Act 2006.
SolGold refutes in their entirety the allegations made by Cornerstone in relation to SolGold withholding material non-public information, Corporate Governance and the terms of the Net Smelter Returns Financing Agreement with Franco-Nevada Corporation announced on 11 May 2020.
Cornerstone is the registered holder of 157,100,000 ordinary shares of SolGold, representing 7.58% of the Company’s issued and outstanding share capital on an undiluted basis.
Cornerstone’s stated intention to requisition the General Meeting is the replacement of the Board of Directors of SolGold, listed below:
Mr Brian Moller
Chairman
Mr Nicholas Mather
Chief Executive Officer
Mr Jason Ward
Executive Director
Dr Robert Weinberg
Non-executive Director
Mr James Clare
Non-executive Director
Mr Liam Twigger
Non-executive Director
At this time, SolGold can confirm it has not received any such requisition from Cornerstone but will update the market in due course, as required, if and when a valid requisition is received.
SolGold also notes that Cornerstone has not proposed any replacement Directors as part of its stated intention to requisition a General Meeting.
By order of the Board,
Karl Schlobohm
Company Secretary
