King Solomon Mines

29 July 2011

Results of meeting

Companies Announcement Office

Australian Stock Exchange Limited

King Solomon Mines Limited AGM

We advise that the resolutions, as set out below and put to the above meeting on 29 July 2011, which commenced at 11 am, were carried by a show of hands.

General Business

Resolution 1: That Mr. Christopher David Castle be re-elected as director of the Company.

Resolution 2:That PricewaterhouseCoopers be re-appointed as auditors of the Company to:

  •  hold office from the conclusion of this meeting to the conclusion of the next annual meeting; and
  • audit the financial statements of the Company for the year ending 31 March 2012,and that the Board of Directors of the Company be authorised to fix the auditor's remuneration.

Resolution 3(a): That pursuant to ASX Listing Rule 10.14 and for all other purposes, the Company approves the issue of 800,000 options to Managing Director Stephen McPhail on the terms summarised in the Explanatory Notes accompanying this notice of meeting, and subject to the exercise of those options and payment of the Exercise Price, the issue of that number of fully paid ordinary shares in the capital of the Company to him. Resolution 3(b): That pursuant to ASX Listing Rule 10.14 and for all other purposes, the Company approves the issue of 800,000 options to Executive Director Bruce Bell and on the terms summarised in the Explanatory Notes accompanying this notice of meeting, and subject to the exercise of those options and payment of the Exercise Price, the issue of that number of fully paid ordinary shares in the capital of the Company to him.

Resolution 3(c): That pursuant to ASX Listing Rule 10.14 and for all other purposes, the Company approves the issue of 800,000 options to Executive Director Fu La on the terms summarised in the Explanatory Notes accompanying this notice of meeting, and subject to the exercise of those options and payment of the Exercise Price, the issue of that number of fully paid ordinary shares in the capital of the Company to him.

Resolution 4: That for the purposes of Listing Rule 7.4 of the Australian Securities Exchange (“the ASX”) and for all other purposes, the issue by the Company of 20,427,446 fully paid ordinary shares in the capital of the Company at A$0.07 per share in the Company to raise A$1,429,921 by means of a private placement as announced to the ASX on 8 February 2011 and as set out in the attached Explanatory Notes, is hereby approved. 

Resolution 5: That pursuant to ASX Listing Rules 7.2 (exception 9) and for all other purposes, the Company’s Employee Share Option Plan Rules, as set out in the Explanatory Notes be approved.

In respect of each resolution on the notice of meeting, the total number of proxy votes exercisable by all proxies validly appointed were:
 

Resolution

For

Against

Abstain

Discretion

1

8,317,186

-

-

10,000

2

8,317,186

-

-

10,000

3(a)

2,407,186

-

5,890,000

10,000

3(b)

2,407,186

20,000

5,890,000

10,000

3(c)

2,407,186

20,000

5,890,000

10,000

4

8,297,186

-

20,000

10,000

5

2,407,186

20,000

5,890,000

10,000