Newport Announces Election of Directors

2019-12-06 / @newswire

 

Trading Symbol: NWX (TSX-V)

VANCOUVER, Dec. 6, 2019 /CNW/ - Newport Exploration Ltd ("Newport" or "the Company") is pleased to announce that the nominees listed in the management information circular for the 2019 Annual General Meeting ("AGM") of Shareholders were elected as directors of Newport.  A total of 55,801,210 common shares or 53.43 per cent of Newport's issued and outstanding common shares were voted in connection with the AGM.  The detailed results are set out in the table.

Newport Exploration Ltd. (CNW Group/Newport Exploration Ltd.)

Nominee

Votes For

% For

Votes Withheld

% Withheld

Ian Rozier

54,303,050

97.32

1,498,160

2.68

Barbara Dunfield

54,303,050

97.32

1,498,160

2.68

Merfyn Roberts

55,670,050

99.76

131,160

0.24

James Robertson

54,330,550

97.36

1,470,660

2.64

  

These AGM results indicate strong support for the management and Board of Directors of the Company and for the current management strategy of allocating capital to shareholders through dividends; to date, the Company has paid out more than 85% of all royalty receipts.  As previously reported (Company News Release dated 3rd December, 2019), the Company is in the process of reviewing its dividend policy going forward.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this news release.

SOURCE Newport Exploration Ltd.

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