Shareholder Activism makes a difference at New Talisman Gold Mines

Date Released:  September 29th 2021

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The NZ Shareholders Association (NZSA) is satisfied with the outcome of today’s shareholder votes in relation to New Talisman Gold Mines (NZX: NTL).

NZSA has supported retail shareholders to ensure that their concerns are heard by the NTL Board and to advocate for governance improvement – as we do for any listed company.

For New Talisman Gold Mines, NZSA supported the election of John Upperton, a concerned shareholder of NTL, to the Board, as well as opposing recent board appointee Kelly Wyse. 

Additionally, two non-binding resolutions were tabled at the meeting calling for the immediate resignation from the Board of both the current Chair, Charbel Nader and Matthew Hill, who is also the CEO of the company.  NZSA voted in favour of these resolutions.

The vote of shareholders at todays’ meeting supported the positions adopted by NZSA with regard to the resolutions.

“The outcome of today’s vote at New Talisman Gold Mines shows that the voices of retail investors remain important for any listed entity, and that concerns raised by shareholders should carry weight with New Zealand’s corporate leadership”, says Oliver Mander, NZSA Chief Executive.  “We’re looking forward to a change in approach by NTL, in terms of both its current strategy and its relationship with shareholders”.

“While the results of the resolutions calling for the removal of Charbel Nader and Matthew Hill from the Board are non-binding, NZSA would ask both individuals to consider the wishes of shareholders.”

To support shareholder advocacy, NZSA offers a free proxy service that allows retail shareholder votes to be counted.  Contact teresa@nzshareholders.co.nz for further information on this service and the registration process.

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