First Majestic Announces Voting Results from Annual General Meeting
First Majestic Announces Voting Results from
Annual General Meeting
Vancouver, British Columbia--(Newsfile Corp. - May 24, 2024) - First Majestic Silver Corp. (NYSE: AG)
(TSX: FR) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the voting results for
its Annual General Meeting of Shareholders held on Thursday, May 23, 2024 in Vancouver, British
Columbia (the "2024 AGM").
Each of the matters that were voted upon at the 2024 AGM are described
in detail in the Company's Management Information Circular dated April 11, 2024 (the "Circular"), which
is available at
www.firstmajesticagm.com
.
A total of 120,646,090 common shares of First Majestic were represented at the 2024 AGM, being 42%
of the Company's issued and outstanding common shares as at the record date.
Shareholders voted in
favour of all matters brought before the 2024 AGM, and the specific voting results were as follows:
NUMBER OF DIRECTORS
Resolution
Votes For
% For
Votes Against
% Against
Set the number of directors of the Company at five *
117,766,659
97.63%
2,859,429
2.37%
ELECTION OF DIRECTORS
Director Nominee
Votes For
% For
Votes Withheld
% Withheld
Keith Neumeyer
74,127,341
96.96%
2,325,884
3.04%
Marjorie Co
71,625,946
93.69%
4,827,280
6.31%
Thomas F. Fudge, Jr.
43,842,992
57.35%
32,610,233
42.65%
Raymond L. Polman
71,946,577
94.11%
4,506,648
5.89%
Colette Rustad
70,376,389
92.05%
6,076,836
7.95%
* Jean des Rivières resigned as a director prior to the 2024 AGM and therefore did not stand for re-election, resulting in the election of five directors
to the Company's Board of Directors (as opposed to six directors, as was set out in the Circular).
APPOINTMENT OF AUDITOR
Resolution
Votes For
% For
Votes Withheld
% Withheld
Appoint Deloitte LLP, Independent Registered Public
Accounting Firm, as auditor for the Company to hold office
until the next Annual General
107,917,707
89.46%
12,708,379
10.54%
SAY-ON-PAY
(non-binding advisory vote)
Resolution
Votes For
% For
Votes Against
% Against
Advisory resolution to approve the Company's approach to
executive compensation
37,591,162
49.17%
38,862,057
50.83%
"We are pleased with the support received from our shareholders at the 2024 AGM,"
stated Thomas F.
Fudge, Jr., Chair of the Board.
"
Although our Say-on-Pay advisory resolution did not pass by a
majority vote, we are encouraged with the increased level of support that it received, which was almost
double compared to the support received for the Say-on-Pay vote at our 2023 AGM.
This
demonstrates that our shareholders have acknowledged the improvements that First Majestic has
made in both the disclosure of its executive compensation practices, and in the Company's approach
to executive compensation.
The Company remains committed in 2024 to continue engaging with our
shareholders and addressing their concerns as we strive to further increase support levels for our
executive compensation practices.
"
About First Majestic
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and
the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the
Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine as well as a portfolio of development
and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.
First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion
of its silver production for sale to the public.
Bars, ingots, coins and medallions are available for
purchase online at
www.firstmint.com
, at some of the lowest premiums available.
For further information, visit our website at
www.firstmajestic.com
.
You can contact us by e-mail at
, or by telephone at 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" under
applicable Canadian and United States securities laws (collectively, "forward-looking statements").
Forward-looking statements in this news release include, but are not limited to, statements with respect
to: (i) the Company's plans to continue engaging with its shareholders in 2024 with respect to the
Company's executive compensation practices.
Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative
variations) of such words and phrases, or state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.
Factors that could cause actual
results to differ materially from those anticipated in these forward-looking statements are discussed in
the section entitled
"Description of the Business - Risk Factors"
in the Company's most recent Annual
Information Form for the year ended December 31, 2023 filed with the Canadian securities regulatory
authorities under the Company's SEDAR+ profile at
www.sedarplus.ca
, and in the Company's Annual
Report on Form 40-F for the year ended December 31, 2023 filed with the United States Securities and
Exchange Commission on EDGAR at
www.sec.gov/edgar
.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended.
Accordingly, the reader is cautioned not to place
undue reliance on forward-looking statements.
Forward-looking statements contained herein are made
as of the date of this news release and the Company disclaims, other than as required by law, any
obligation to update any forward-looking statements whether as a result of new information, results,
future events, circumstances, or if management's estimates or opinions should change, or otherwise.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/210399