Business Context and Reporting Period
This Form 8-K reports on the 2010 Annual Meeting of Stockholders held by Southern Copper Corporation on April 29, 2010. The filing details the voting results for the election of directors and the ratification of independent accountants.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance voting outcomes.
Material Changes and Voting Results
Out of 850,000,000 outstanding voting securities, 838,466,995 shares (approximately 98.64%) were present in person or by proxy.
Proposal 1: Election of Directors
All fourteen nominees were elected to serve until the 2011 annual meeting. Key voting statistics include:
- Total Broker Non-Votes: 78,724,802 shares across all nominees.
- Highest Support: Luis Miguel Palomino Bonilla received 755,642,726 votes for.
- Lowest Support: Oscar González Rocha received 711,896,991 votes for.
Proposal 2: Ratification of Independent Accountants
Stockholders ratified the selection of Galaz, Yamazaki, Ruiz Urquiza S.C. (a member firm of Deloitte Touche Tohmatsu) as the independent accountants for calendar year 2010.
- Votes For: 837,574,033
- Votes Against: 714,240
- Abstentions: 178,720
- Broker Non-Votes: 0
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Important Facts for Investors to Verify
- Confirmation that all 14 director nominees were successfully elected.
- The high level of shareholder participation (98.64% of eligible shares).
- The significant number of broker non-votes (78,724,802) regarding the director election, which did not affect the outcome but indicates shares held in street name where brokers lacked discretionary authority.
- The overwhelming approval of the independent auditor selection.