Resolutions Passed at SEMAFO's Shareholders Meeting on May 14, 2012
MONTREAL, QUEBEC -- (Marketwire) -- 05/15/12 -- SEMAFO Inc. (TSX: SMF)(OMX: SMF) announced the resolutions passed at the Annual General and Special Meeting of Shareholders held on May 14, 2012, as proposed in the Management Proxy Circular made public on March 28, 2012.
Mr. Pierre Claver Damiba chose not stand for re-election. Mr. Tertius Zongo was elected new member of SEMAFO's Board of Directors to join the re-elected members Messieurs Jean Lamarre (Executive Chairman), Benoit La Salle, FCA, Terrence F. Bowles, John LeBoutillier, CM (Lead Director), Gilles Masson, CA and Lawrence McBrearty.
The meeting also re-elected PriceWaterhouseCoopers LLP, Chartered Accountants, as auditors.
The meeting approved the proposed amendment of the articles, allowing the directors to appoint one or more additional directors to hold office for a term expiring not later than the close of the next annual shareholders meeting, provided that the total number of directors so appointed may not exceed one third of the number of directors elected at the previous annual shareholders meeting.
Further, the meeting approved new by-laws amending inter alia: the time period for notice for shareholders meetings, the requisition of special general meetings by shareholders, the required quorum to hold shareholders meetings, the period for the record date to determine whether shareholders are entitled to receive notice or vote at meetings, participation in the meeting by means of communication equipment, provisions dealing with conflicts of interest of directors, provisions providing for the indemnification of directors and officers and provisions regarding borrowing powers.
For a description of all resolutions passed at the meeting, please refer to SEMAFO's Voting Results Report on the website maintained by the Canadian Securities regulators, www.sedar.com.
About SEMAFO
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation currently operates three gold mines: the Mana Mine in Burkina Faso, the Samira Hill Mine in Niger and the Kiniero Mine in Guinea. SEMAFO is committed to evolve in a conscientious manner to become a major player in its geographical area of interest. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.
Contacts:
SEMAFO
Sofia St Laurent
Communications & Investor Relations
Tel local & overseas: +1 (514) 744 4408
Toll-Free:1-888-744-4408
sofia.stlaurent@semafo.com
Maria Bang
Brunswick Group Stockholm
+46 (8) 410 32 189
mbang@brunswickgroup.com
