VANCOUVER, May 22, 2014 /CNW/ - Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) (the "Company" or "Nevsun") is pleased to
announce the results of voting at its annual and special meeting of
shareholders which was held on May 22, 2014, in Vancouver, British
Columbia (the "Meeting"). A total of 72.77% of outstanding shares were
voted at the Meeting which showed a high participation of shareholders
and evidenced strong support for the election of its nominees as
directors, for Nevsun's approach to executive compensation and for
continuation of its shareholder rights plan.
Election of Directors
The six nominees for director listed in Nevsun's management proxy
circular were elected as set out in the following table:
R. Stuart Angus
Ian R. Ashby
Clifford T. Davis
Robert J. Gayton
Gary E. German
Gerard E. Munera
Say on Pay Advisory Vote
Nevsun's approach to executive compensation (say on pay) was accepted by
a 97.78% majority of the votes cast at the Meeting and shows its
shareholders are confident in Nevsun's approach to executive
compensation. The primary objective of the Company's compensation
program, including the executive compensation program, is to attract
and retain qualified employees that fit in with the Nevsun corporate
culture in order to achieve its corporate objectives and increase
shareholder value and to promote greater alignment of interests between
its executive officers and shareholders.
Shareholder Rights Plan
The shareholder rights plan of the Company (the "Rights Plan") was
approved, ratified and confirmed by a 69.53% majority of the votes
cast. The purpose of the Rights Plan is to encourage the fair
treatment of shareholders in connection with any take-over bid for the
Company, assuring adequate time to shareholders and the board of
directors of the Company to assess a take-over bid and consider any
alternatives to promote fairness and maximize shareholder value.
Appointment of Auditors
KPMG LLP was appointed as auditors of the Company and the directors of
the Company were authorized to fix the remuneration of the auditors by
a 96.81% majority of the votes cast.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is a Vancouver-based mining company with an
operating mine in Eritrea. Nevsun's 60%-owned Bisha Mine commenced
commercial copper concentrate production in December 2013 and ranks as
one of the highest grade open pit copper mines in the world. Nevsun has
a strong balance sheet and future cash flows to grow shareholder value
through exploration at Bisha and acquisition of additional mining
NEVSUN RESOURCES LTD.
"Cliff T. Davis"
Cliff T. Davis
President & Chief Executive Officer
SOURCE: Nevsun Resources Ltd.
For further information:
Tel: 604 684 6730
Toll free: 1 866 684 6730