Constitution
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Constitution
Coda Minerals Ltd (ACN 625 763 957)
(Incorporating amendments approved by shareholders at the Annual General Meeting on
30 September 2020)
Contents
Preliminary ................................................................................................................................................... 1
1.
2.
3.
4.
Definitions ................................................................................................................... 1
Interpretation............................................................................................................... 3
Application of Applicable Law ..................................................................................... 3
Enforcement ............................................................................................................... 4
Capital ........................................................................................................................................................... 4
5.
6.
7.
8.
9.
10.
Issue of securities ....................................................................................................... 4
Preference Shares Rights .......................................................................................... 5
Class rights ................................................................................................................. 6
Alterations of capital ................................................................................................... 7
Registered holder ....................................................................................................... 7
Certificates and statements ........................................................................................ 7
Calls .............................................................................................................................................................. 8
11.
12.
13.
14.
15.
Making of calls ............................................................................................................ 8
Notice of calls ............................................................................................................. 8
Payment of calls ......................................................................................................... 8
Prepayment of calls .................................................................................................... 9
Interest payable .......................................................................................................... 9
Forfeiture and liens ..................................................................................................................................... 9
16.
17.
18.
19.
20.
21.
22.
Forfeiture procedure ................................................................................................... 9
Effect of forfeiture ..................................................................................................... 10
Liens on Shares ........................................................................................................ 10
Company payments .................................................................................................. 11
Dealing with Shares .................................................................................................. 11
Proceeds of sale ....................................................................................................... 12
Sale procedure ......................................................................................................... 12
Transfer of Shares ..................................................................................................................................... 12
23.
24.
25.
Electronic Transfer Systems ..................................................................................... 12
Transfers ................................................................................................................... 13
Refusal to register transfers ..................................................................................... 13
Transmission of Shares ............................................................................................................................ 14
26.
27.
Transmission on death ............................................................................................. 14
Transmission Events ................................................................................................ 15
Proceedings of Shareholders .................................................................................................................. 15
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.
Calling meetings of Shareholders............................................................................. 15
Notice of meetings of Shareholders ......................................................................... 15
Business of meetings ............................................................................................... 15
Quorum ..................................................................................................................... 16
Chairperson of meetings of Shareholders ................................................................ 16
Conduct of meetings of Shareholders ...................................................................... 16
Attendance at meeting of Shareholders ................................................................... 17
Authority of Attending Shareholders ......................................................................... 18
Multiple appointments ............................................................................................... 18
Voting at meeting of Shareholders ........................................................................... 19
Voting by representatives ......................................................................................... 20
Restrictions on voting rights ..................................................................................... 21
Polls .......................................................................................................................... 21
Proxies ...................................................................................................................... 22
Receipt of appointments ........................................................................................... 22
Adjournments............................................................................................................ 22
Cancellations and postponements ........................................................................... 23
Meetings of a class of Shareholders ........................................................................ 23
Constitution – Coda Minerals Ltd
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Directors ..................................................................................................................................................... 23
46.
47.
48.
49.
50.
51.
Appointment of Directors .......................................................................................... 23
Retirement of Directors ............................................................................................. 24
Termination of office ................................................................................................. 24
Alternate directors..................................................................................................... 25
Remuneration and benefits of Directors ................................................................... 25
Interests of Directors ................................................................................................ 26
Officers ....................................................................................................................................................... 27
52.
53.
54.
Managing Director .................................................................................................... 27
Secretary .................................................................................................................. 28
Indemnity and insurance .......................................................................................... 28
Powers of the Board .................................................................................................................................. 29
55.
56.
57.
58.
General powers ........................................................................................................ 29
Execution of documents ........................................................................................... 29
Committees and delegates ....................................................................................... 29
Attorney or agent ...................................................................................................... 29
Proceedings of Directors .......................................................................................................................... 30
59.
60.
61.
62.
63.
Written resolutions of Directors ................................................................................ 30
Board Meetings......................................................................................................... 30
Chairperson of the Board ......................................................................................... 31
Board resolutions ...................................................................................................... 31
Valid proceedings ..................................................................................................... 32
Dividends and Profits................................................................................................................................ 32
64.
65.
66.
67.
68.
69.
Determination of dividends ....................................................................................... 32
Entitlements to dividends .......................................................................................... 32
Dividend plans .......................................................................................................... 33
Capitalisation of profits ............................................................................................. 33
Distributions of assets .............................................................................................. 34
Payments .................................................................................................................. 35
Notices ........................................................................................................................................................ 35
70.
71.
72.
73.
74.
Notices to Shareholders ........................................................................................... 35
Notice to Directors .................................................................................................... 36
Notice to the Company ............................................................................................. 36
Time of service ......................................................................................................... 37
Notice requirements ................................................................................................. 37
Winding up ................................................................................................................................................. 37
75.
Winding up ................................................................................................................ 37
Small holdings ........................................................................................................................................... 38
76.
77.
78.
Existing small holdings ............................................................................................. 38
New small holdings ................................................................................................... 38
Exercise of power of sale ......................................................................................... 39
Takeover approval provisions ................................................................................................................. 40
79.
80.
Refusal to register transfers ..................................................................................... 40
Approval procedure .................................................................................................. 40
Constitution – Coda Minerals Ltd
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Constitution
Coda Minerals Ltd (ACN 625 763 957)
Preliminary
1.
Definitions
In this Constitution:
Applicable Law means the Corporations Act, the Listing Rules and the Settlement Rules.
ASX means ASX Limited ACN 008 624 691.
Attending Shareholder means, in relation to a meeting of Shareholders, the Shareholder
present at the place of the meeting, in person or by proxy, by attorney or, where the Shareholder
is a body corporate, by Corporate Representative.
Board means the Directors of the Company from time to time.
Business Day has the meaning given in the Listing Rules if the Company is included in the
official list of ASX at the time, and otherwise means a day except a Saturday, Sunday or public
holiday in the state or territory in which the Company is taken to be registered for the purposes
of the Corporations Act.
Corporate Representative means a person authorised in accordance with the Corporations Act
(or a corresponding previous law) by a Shareholder which is a body corporate to act as its
representative at a meeting of Shareholders.
Corporations Act means the Corporations Act 2001 (Commonwealth).
CS Facility means a licensed CS facility (as defined in the Corporations Act) which applies to
the Company or its Shares.
CSF Operator means the licensed operator of the relevant CS Facility.
Director means a person who is, for the time being, a director of the Company including, where
appropriate, an alternate director of the Company.
Dispose, in relation to a Restricted Security, has the meaning given to that term under the Listing
Rules.
Executive Director means a Director who is an employee (whether full-time or part-time) of the
Company or of any related body corporate of the Company.
Holding Lock has the meaning given to that term under the Settlement Rules.
Jointly Held means, in relation to a Share, a Share which the Register records 2 or more
persons as the holders of that Share.
Legal Costs of a person means legal costs calculated on a solicitor-and-client basis incurred by
that person in defending or resisting any proceedings (whether criminal, civil, administrative or
judicial), appearing before or responding to actions taken by any court, tribunal, government
authority or agency, other body or commission, a liquidator, an administrator, a trustee in
bankruptcy or other authorised official, where that proceeding, appearance or response relates
to a Liability of that person.
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Liability of a person means any liability including negligence (except a liability for legal costs)
incurred by that person in or arising out of the discharge of duties as an officer of the Company
or in or arising out of the conduct of the business of the Company, including as result of
appointment or nomination by the Company or a subsidiary as a trustee or as a director, officer
or employee of another body corporate.
Listing Rules means the listing rules of ASX and any other rules of ASX which are applicable
while the Company is admitted to the official list of ASX.
Non-Executive Directors means all Directors other than Executive Directors.
Notice means a notice given pursuant to, or for the purposes of, this Constitution or the
Applicable Law.
Personal Representative means the legal personal representative, executor or administrator
of the estate of a deceased person.
Register means the register of Shareholders kept pursuant to the Applicable Law and, where
appropriate, includes any subregister and branch register.
Relevant Officer means a person who is, or has been, a Director or Secretary.
Restricted Securities has the meaning given in the Listing Rules and includes Shares defined
as such in any Restriction Deed.
Restriction Deed means a restriction deed in a form set out in the Listing Rules or otherwise
approved by ASX and includes any agreement or deed which the Company and any Shareholder
agrees is a restriction deed.
Secretary means a person appointed as, or to perform the duties of, secretary of the Company
for the time being.
Settlement Rules means the operating rules of the relevant CS Facility.
Share means a share in the capital of the Company.
Shareholder means:
(a)
in respect of a meeting of holders of Shares or a meeting of holders of a class of
Shares, a person whose name is entered in the Register as the holder of a Share or
a Share of that class (as the case may be) at the time specified in the notice of that
meeting (or if no time is specified, at the time appointed for that meeting to
commence); and
(b)
otherwise, a person whose name is entered in the Register as the holder of a Share,
and registered holder has a corresponding meaning.
Transmission Event means:
(a)
if a Shareholder is an individual, the death or bankruptcy of that Shareholder or that
Shareholder becoming of unsound mind or becoming a person whose property is
liable to be dealt with pursuant to a law about mental health; or
(b)
if a Shareholder is a body corporate, the deregistration of that Shareholder pursuant
to the laws of the jurisdiction of its registration or the succession by another body
corporate to the assets and liabilities of the Shareholder.
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2.
Interpretation
Headings are for convenience only and do not affect interpretation. Unless the context indicates
a contrary intention, in this Constitution:
3.
(a)
a word importing the singular includes the plural (and vice versa);
(b)
a word indicating a gender includes every other gender;
(c)
if a word or phrase is given a defined meaning, any other part of speech or
grammatical form of that word or phrase has a corresponding meaning;
(d)
the word "includes" in any form is not a word of limitation;
(e)
a reference to a partly paid Share is a reference to a Share on which there is an
amount unpaid;
(f)
a reference to a call or an amount called in respect of a Share includes an amount
that, by the terms of issue of a Share or otherwise, is payable at one or more fixed
times;
(g)
a reference to something being "written" or "in writing" includes that thing being
represented or reproduced in any mode in a visible form;
(h)
a notice or document required by this Constitution to be signed may be authenticated
by any other manner permitted by the Corporations Act or any other law;
(i)
a reference to a statute includes its delegated legislation and a reference to a statute
or delegated legislation or a provision of either includes consolidations, amendments,
re-enactments and replacements; and
(j)
a reference to "managing director" includes a Director who is also the chief executive
officer of the Company.
Application of Applicable Law
(a)
Unless the context indicates a contrary intention, in this Constitution:
(i)
a reference to the Applicable Law is to the Applicable Law in force in
relation to the Company after taking into account any waiver, modification
or exemption which is in force either generally or in relation to the
Company;
(ii)
a word or phrase given a meaning in the Applicable Law has the same
meaning in this Constitution where it relates to the same matters as the
matters for which it is defined in the Applicable Law, unless that word or
phrase is otherwise defined in this Constitution; and
(iii)
a reference to the Listing Rules or the Settlement Rules includes any
amendment or replacement of those rules from time to time.
(b)
The replaceable rules in the Corporations Act do not apply to the Company.
(c)
In this Constitution, a reference to the Listing Rules, the Settlement Rules or ASX
only applies while the Company is included in the official list of ASX.
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(d)
4.
If the Company is included in the official list of ASX, then:
(i)
notwithstanding anything contained in this Constitution, if the Listing Rules
prohibit an act being done, the act must not be done;
(ii)
nothing contained in this Constitution prevents an act being done that the
Listing Rules require to be done;
(iii)
if the Listing Rules require an act to be done or not to be done, authority
is given for that act to be done or not to be done (as the case may be);
(iv)
if the Listing Rules require this Constitution to contain a provision and it
does not contain such a provision, this Constitution is taken to contain that
provision;
(v)
if the Listing Rules require this Constitution not to contain a provision and
it contains that provision, this Constitution is taken not to contain that
provision; and
(vi)
if any provision of this Constitution is or becomes inconsistent with the
Listing Rules, this Constitution is taken not to contain that provision to the
extent of the inconsistency.
Enforcement
(a)
Each Shareholder submits to the non-exclusive jurisdiction of the courts of Western
Australia, the Federal Court of Australia and the courts competent to determine
appeals from those courts with respect to any proceedings that may be brought at
any time relating to this Constitution.
(b)
If at any time any provision of this Constitution is or becomes illegal, invalid or
unenforceable in any respect pursuant to the law of any jurisdiction, then that does
not affect or impair:
(i)
the legality, validity or enforceability in that jurisdiction of any other
provision of this Constitution; or
(ii)
the legality, validity or enforceability pursuant to the law of any other
jurisdiction of that or any other provision of this Constitution.
Capital
5.
Issue of securities
(a)
Subject to the Applicable Law and any rights and restrictions attached to a class of
Shares or other securities, the Company may by resolution of the Board issue
Shares, options to acquire Shares, and other securities with rights of conversion to
Shares on any terms, to any person, at any time and for any consideration, as the
Board resolves.
(b)
The Company may issue preference Shares (including those which may be, or at the
option of either or both the Company and the holder are, liable to be redeemed) and
may convert any issued Shares into preference Shares, if the rights of the holders of
the preference Shares are as set out in Article 6 or are approved in accordance with
the Applicable Law.
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6.
Preference Shares Rights
If the Company at any time proposes to issue any preference Shares with the terms set out in
this Article 6, each preference Share confers on the holder:
(a)
the right to convert the preference Share into an ordinary Share if and on the basis
the Board resolves under the terms of issue;
(b)
the right to receive a dividend at the rate or of the amount (which may be fixed or
variable) and on the conditions (including conditions which may be changed or reset
at certain times or upon certain events) that the Board resolves under the terms of
issue unless, and to extent that, the Board resolves under the terms of issue that
there is no right to receive a dividend, and any such dividend:
(i)
is non-cumulative unless, and to the extent that, the Board resolves
otherwise under the terms of issue;
(ii)
will rank for payment in priority to ordinary Shares unless, and to the extent
that, the Board resolves otherwise under the terms of issue; and
(iii)
will rank for payment in relation to Shares in any other class of Shares as
the Board resolves under the terms of issue;
(c)
in addition to the rights (if any) to receive a dividend, the right to participate equally
with the ordinary Shares in the distribution of profits (or other amounts) available for
dividends if and on the basis the Board resolves under the terms of issue;
(d)
if, and to the extent that any dividend on the preference Share is cumulative, the right
in a winding up or on a reduction of capital, and on redemption in the case of a
redeemable preference Share, to payment of the amount of any dividends accrued
but unpaid on the preference Share at the date of winding up or reduction of capital
or, in the case of a redeemable preference share, the date of redemption, with the
same priority in relation to each other class of Shares as the priority that applies in
relation to the payment of the dividend;
(e)
if, and to the extent that any dividend on the preference Share is non-cumulative, and
if, and to the extent that, the Board resolves under the terms of issue, the right in a
winding up or on a reduction of capital, and on redemption in the case of a
redeemable preference Share, to payment of the amount of any dividends accrued
but unpaid on the preference Share for the period commencing on the dividend
payment date which has then most recently occurred and ending on the date of
winding up or reduction of capital or, in the case of a redeemable preference share,
the date of redemption, with the same priority in relation to each other class of Shares
as the priority that applies in relation to the payment of the dividend;
(f)
the right in a winding up or on a reduction of capital, and on redemption in the case
of a redeemable preference Share, to payment of any amount (which may include
the amount paid or agreed to be considered as paid on the preference Share) that
the Board resolves at the time of issue, and payment of such amount:
(g)
(i)
will rank for payment in priority to ordinary Shares unless, and to the extent
that, the Board resolves otherwise under the terms of issue; and
(ii)
will rank for payment in relation to any other class of Shares as the Board
resolves under the terms of issue;
the right to a bonus issue or capitalisation of profits in favour of preference
Shareholders only, if and to the extent the Board resolves under the terms of issue;
Constitution – Coda Minerals Ltd
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(h)
in addition to the rights pursuant to Articles 6(b), 6(c), 6(d), 6(e), 6(f) and 6(g), the
right to participate with the ordinary Shares in profits and assets of the Company,
including on a winding up, if and to the extent that the Board resolves under the terms
of issue;
(i)
the right to receive notices, reports and accounts and to attend and be heard at all
meetings of Shareholders on the same basis as the holders of ordinary Shares;
(j)
no right to vote at meetings of Shareholders except on the questions, proposals or
resolutions or during the periods of time or in the circumstances that the Board
resolves under the terms of issue, which, unless the Board resolves otherwise under
the terms of issue, are:
(k)
(i)
on any matter considered at a meeting if, at the date of the meeting, the
dividend on the preference Shares is in arrears;
(ii)
on a proposal to reduce the share capital of the Company;
(iii)
on a resolution to approve the terms of a buy-back agreement;
(iv)
on a proposal that affects rights attached to the preference Shares;
(v)
on a proposal to wind up the Company;
(vi)
on a proposal for the disposal of the whole of the property, business and
undertaking of the Company; and
(vii)
on any matter considered at a meeting held during the winding up of the
Company; and
if voting on any matter in respect of which the holder is entitled to vote is by poll the
right to cast the number of votes specified in, or determined in accordance with, the
terms of issue for the preference Share.
In the case of a redeemable preference Share, the Company must if required by the terms of
issue for that Share but subject to the Corporations Act, at the time and place for redemption
specified in, or determined in accordance with, those terms of issue, redeem that Share and,
subject to the giving or receiving of a valid redemption notice or other document (if any) required
by those terms of issue, pay to or at the direction of the registered holder the amount payable
on redemption of that Share.
7.
Class rights
(a)
Subject to the Corporations Act and the terms of issue of Shares in a particular class,
the Company may vary or cancel rights attached to Shares in that class:
(i)
by a special resolution passed at a meeting of the Shareholders holding
Shares in that class; or
(ii)
with the written consent of Shareholders who are entitled to at least 75%
of the votes that may be cast in respect of Shares in that class.
(b)
Article 45 applies to a meeting held pursuant to Article 7(a)(i).
(c)
The issue of any new Shares ranking equally, or any conversion of existing securities
to Shares ranking equally, with existing Shares is not a variation of the rights
conferred on the holders of the existing Shares, unless otherwise provided by the
terms of issue of the existing Shares or required by the Applicable Law.
Constitution – Coda Minerals Ltd
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(d)
8.
9.
10.
The issue of any new Shares ranking in priority, or any conversion of existing
securities to Shares ranking in priority, to an existing class of preference Shares is a
variation of the rights conferred on the holders of the existing preference Shares,
unless the issue or conversion is expressly permitted by the terms of the existing
preference Shares.
Alterations of capital
(a)
The Company may by resolution convert Shares from one class to another, subject
to the Corporations Act, this Constitution and the terms of issue of a class of Shares.
(b)
The Compan
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