Steppe Gold Ltd. (STPGF) held its annual general and special meeting on June 16, 2025, where shareholders voted on key matters. Six out of seven nominated directors were successfully elected to the Board with strong approval rates above 96%, except for Byambatseren Tsogbadrakh who received only 9.15% votes in favor. Due to receiving more votes withheld than in favor, Tsogbadrakh must submit resignation per the company's majority voting policy. Kingston Ross Pasnak LLP was reappointed as auditors with 99.81% approval. Notably, shareholders rejected the company's proposed long-term incentive plan with a significant 90.85% voting against it.
Steppe Gold Ltd. (STPGF) ha tenuto la sua assemblea generale e straordinaria annuale il 16 giugno 2025, durante la quale gli azionisti hanno votato su questioni importanti. Sei dei sette direttori nominati sono stati eletti con successo nel Consiglio di Amministrazione, ottenendo un forte consenso superiore al 96%, ad eccezione di Byambatseren Tsogbadrakh che ha ricevuto solo il 9,15% dei voti favorevoli. Poich茅 Tsogbadrakh ha ricevuto pi霉 voti contrari che favorevoli, dovr脿 presentare le dimissioni secondo la politica di voto maggioritario della societ脿. Kingston Ross Pasnak LLP 猫 stato riconfermato come revisore contabile con il 99,81% di approvazione. Degno di nota 猫 il fatto che gli azionisti hanno respinto il piano di incentivazione a lungo termine proposto dall'azienda con un significativo 90,85% di voti contrari.
Steppe Gold Ltd. (STPGF) celebr贸 su junta general y extraordinaria anual el 16 de junio de 2025, donde los accionistas votaron sobre asuntos clave. Seis de los siete directores nominados fueron elegidos con 茅xito para la Junta con una fuerte aprobaci贸n superior al 96%, excepto Byambatseren Tsogbadrakh, quien recibi贸 solo el 9,15% de los votos a favor. Debido a que recibi贸 m谩s votos en contra que a favor, Tsogbadrakh debe presentar su renuncia seg煤n la pol铆tica de votaci贸n mayoritaria de la compa帽铆a. Kingston Ross Pasnak LLP fue reelegido como auditor con un 99,81% de aprobaci贸n. Cabe destacar que los accionistas rechazaron el plan de incentivos a largo plazo propuesto por la empresa con un significativo 90,85% de votos en contra.
Steppe Gold Ltd. (STPGF) a tenu son assembl茅e g茅n茅rale annuelle et extraordinaire le 16 juin 2025, lors de laquelle les actionnaires ont vot茅 sur des questions cl茅s. Six des sept administrateurs propos茅s ont 茅t茅 茅lus avec succ猫s au conseil d'administration, obtenant des taux d'approbation sup茅rieurs 脿 96 %, 脿 l'exception de Byambatseren Tsogbadrakh, qui n'a recueilli que 9,15 % des voix en sa faveur. 脡tant donn茅 qu'il a re莽u plus de votes retenus que de votes favorables, Tsogbadrakh doit d茅missionner conform茅ment 脿 la politique de vote majoritaire de la soci茅t茅. Kingston Ross Pasnak LLP a 茅t茅 r茅茅lu en tant qu'auditeur avec une approbation de 99,81 %. Il est 脿 noter que les actionnaires ont rejet茅 le plan d'incitation 脿 long terme propos茅 par la soci茅t茅 avec un important taux de 90,85 % de votes contre.
Steppe Gold Ltd. (STPGF) hielt am 16. Juni 2025 seine j盲hrliche Haupt- und Sonderversammlung ab, bei der die Aktion盲re 眉ber wichtige Angelegenheiten abstimmten. Sechs von sieben nominierten Direktoren wurden mit starken Zustimmungsraten von 眉ber 96 % erfolgreich in den Vorstand gew盲hlt, mit Ausnahme von Byambatseren Tsogbadrakh, der nur 9,15 % der Stimmen erhielt. Da Tsogbadrakh mehr Enthaltungen als Zustimmungen erhielt, muss er gem盲脽 der Mehrheitsabstimmungspolitik des Unternehmens seinen R眉cktritt einreichen. Kingston Ross Pasnak LLP wurde mit 99,81 % Zustimmung als Wirtschaftspr眉fer wiederbestellt. Bemerkenswert ist, dass die Aktion盲re den vorgeschlagenen langfristigen Anreizplan des Unternehmens mit einer deutlichen Ablehnung von 90,85 % zur眉ckwiesen.
Positive
Six directors were elected with strong approval rates above 96%
Auditors reappointed with overwhelming 99.81% shareholder support
Negative
One director nominee Byambatseren Tsogbadrakh received only 9.15% votes in favor, requiring resignation
Shareholders strongly rejected the long-term incentive plan with 90.85% voting against
Ulaanbaatar, Mongolia--(Newsfile Corp. - June 16, 2025) - Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) ("Steppe Gold" or the "Company") announces today the results of its annual general and special meeting of shareholders (the "Meeting") held on June 16, 2025.
At the Meeting, Steppe Gold shareholders voted on the following matters, the full details of which are set out in the Company's management information circular dated May 13, 2025, issued in connection with the Meeting, which is available under the Company's profile on SEDAR+ at .
According to the proxies received and ballots cast, the following seven individuals nominated to serve on Steppe Gold's Board of Directors (the "Board"), were elected by shareholders as follows:
Nominee
Votes For
% Votes For
Votes Withheld
% of Votes Withheld
Batjargal Zamba
171,310,130
99.78%
369,143
0.22%
Jargalan Sereenen
171,340,130
99.80%
339,143
0.20%
Bataa Tumir-Ochir
165,839,855
96.60%
5,839,418
3.40%
Marina Lerner
166,729,855
97.12%
4,949,418
2.88%
Byambatseren Tsogbadrakh
15,704,475
9.15%
155,974,798
90.85%
Tserenbadam Dugeree
171,321,073
99.79%
358,200
0.21%
Dulguun Erdenebaatar
165,916,942
96.64%
5,762,331
3.36%
Pursuant to, and in accordance with, the terms of the Company's majority voting policy (the "Policy"), any nominee proposed for election as a director in an uncontested election who receives a greater number of votes withheld than number of votes in favour of the nominee, even though duly elected as a matter of corporate law, must promptly tender their resignation to the board of directors of the Company (the "Board"). At the Meeting, Ms. Tsogbadrakh received more votes withheld than votes in favour and therefore, in accordance with the Policy, Ms. Tsogbadrakh is required to submit her resignation to the Board for its consideration. Under the Policy, the Board will promptly accept the resignation unless it determines that there are extraordinary circumstances relating to the composition of the Board or the voting results that should delay the acceptance of the resignation or justify rejecting it. The Board will make its decision and reasons available to the public within 90 days of the Meeting.
According to the proxies received and ballots cast, Kingston Ross Pasnak LLP were re-appointed as Steppe Gold's auditors to hold office until the next annual meeting of the Company's shareholders and the Board was authorized to fix their renumeration, as an ordinary resolution of shareholders as follows:
Votes For
% Votes For
Votes Withheld
% of Votes Withheld
174,945,784
99.81%
337,941
0.19%
According to the proxies received and ballots cast, the shareholders did not pass the ordinary resolution approving the ratification and adoption of the Company's long-term incentive plan, with the voting results as follows:
Votes For
% Votes For
Votes Against
% of Votes Against
15,702,668
9.15%
155,976,605
90.85%
A full report of voting results from the Meeting is available under the Company's profile on SEDAR+ at .
About Steppe Gold Ltd.
Steppe Gold Ltd. is Mongolia's premier precious metals company.
For more information, please contact:
Bataa Tumur-Ochir, Chairman and Chief Executive Officer
Jeremy South, Senior Vice President and Chief Financial Officer
Shangri-La office, Suite 1201, Olympic Street 19A, Sukhbaatar District 1, Ulaanbaatar 14241, Mongolia Tel: +976 7732 1914
To view the source version of this press release, please visit
FAQ
What were the voting results for Steppe Gold's (STPGF) 2025 annual meeting?
Six directors were elected with >96% approval, one director received only 9.15% support, auditors were reappointed with 99.81% approval, and the long-term incentive plan was rejected with 90.85% voting against.
Why must Byambatseren Tsogbadrakh resign from Steppe Gold's board?
According to the company's majority voting policy, Tsogbadrakh must submit resignation after receiving more votes withheld (90.85%) than votes in favor (9.15%) at the 2025 annual meeting.
What happened to Steppe Gold's long-term incentive plan at the 2025 meeting?
Shareholders rejected the long-term incentive plan with 90.85% voting against it and only 9.15% voting in favor.
Who are Steppe Gold's auditors for 2025?
Kingston Ross Pasnak LLP was reappointed as auditors with 99.81% shareholder approval.
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