Centerra Gold Inc.

Centerra Gold Inc.

May 08, 2014 16:16 ET

Centerra Gold Announces Election of Directors

TORONTO, ONTARIO--(Marketwired - May 8, 2014) - Centerra Gold Inc. (TSX:CG) announced that the eleven nominees listed in the management information circular for the 2014 Annual and Special Meeting of Shareholders (the "Meeting") held earlier today were elected as directors of Centerra Gold. The vote was conducted by a show of hands. The detailed results of the votes received by proxy are set out below:

Nominee Votes For % Votes For Votes Withheld % Votes Withheld
Ian Atkinson 203,234,774 99.29 1,450,085 0.71
Richard W. Connor 203,340,864 99.34 1,343,422 0.66
Raphael A. Girard 198,506,726 96.98 6,177,560 3.02
Stephen A. Lang 95,481,645 46.65 109,202,641 53.35
Emil Orozbaev 204,601,458 99.96 82,828 0.04
Michael Parrett 204,679,819 99.99 4,467 0.01
Sheryl K. Pressler 185,823,625 90.79 18,860,661 9.21
Terry V. Rogers 126,509,712 61.81 78,174,574 38.19
Kalinur Sadyrov 203,155,994 99.25 1,528,292 0.75
Kylychbek Shakirov 203,391,427 99.37 1,292,859 0.63
Bruce V. Walter 125,574,374 61.35 79,109,912 38.65

Centerra notes that Kyrgyzaltyn JSC, the Company's largest shareholder, withheld its votes from the election of Messrs. Stephen A. Lang (the Chair of the Board), Terry V. Rogers (the independent Lead Director) and Bruce V. Walter (the Vice-Chair of the Board), each of whom has and continues to play an integral role in the Company's on-going negotiations with the Government of the Kyrgyz Republic. Excluding the votes withheld by Kyrgyzaltyn JSC, the percentage of votes withheld from the election of Messrs. Lang, Rogers and Walter represent 24.98%, 0.61% and 1.34%, respectively.

In light of the number of votes withheld from the election of Mr. Lang as a director of Centerra, and notwithstanding the fact that the Company does not have a majority voting policy, Mr. Lang sought the advice of the Nominating and Corporate Governance Committee, who are unanimously of the view that it is in the best interests of the Company for Mr. Lang to remain a director and the Chair of the Board of Centerra. The Board of Directors (with Mr. Lang abstaining) has endorsed the conclusion of the Nominating and Corporate Governance Committee.

Final voting results on all matters voted on at the Meeting will be filed on SEDAR at

About Centerra

Centerra is a gold mining company focused on operating, developing, exploring and acquiring gold properties primarily in Asia, the former Soviet Union and other markets worldwide. Centerra is a leading North American-based gold producer and is the largest Western-based gold producer in Central Asia. Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG. The Company is headquartered in Toronto, Ontario, Canada.

Additional information on Centerra is available on the Company's web site at and at SEDAR at

Contact Information