UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act File Number 811-04010
OCM Mutual Fund
2600 Kitty Hawk Road
Suite 119
Livermore, CA 94551
(Address of principal executive offices)
OCM Mutual Fund
Attn: Greg Orrell
2600 Kitty Hawk Road
Suite 119
Livermore, CA 94551
(Name and address of agent for service)
Registrant's telephone number, including area code: (925) 455-0802
Date of fiscal year end: November 30
Date of reporting period: July 1, 2014 through June 30, 2015
Item 1. Proxy Voting Record
Company Name | Company Symbol | CUSIP Number | Shareholder Meeting date | Describe The Matter Voted On | Proposed by Company or Shareholder | Did Orrell Capital vote? | How did Orrell Capital Vote? | Votes cast for or against Mgt |
SPDR GOLD TRUST | GLD | 78463V107 | 7/18/2014 | 1. Approve amendments to the trust indenture | Company | Yes | For | For |
that change the manner in which ordinary fees | ||||||||
and expenses of the trust are paid such that | ||||||||
in return for a payment to the sponsor of 0.40% | ||||||||
per year of the daily NAV of the trust, the | ||||||||
sponsor will be responsible for all other | ||||||||
ordinary fees and expenses of the trust; 2. To | ||||||||
approve the amendment to section 3.08 of the | ||||||||
trust indenture to permit the sponsor to | ||||||||
compensate affiliates for providing marketing | ||||||||
and other services to the trust. | ||||||||
AMARILLO GOLD | AGC CN | 02301T959 | 7/18/2014 | 1. Set number of directors at 5; 2. Elect | Company | Yes | For | For |
directors; 3. Appoint MNP LLP as auditors of | ||||||||
the company, authorize directors to fix their | ||||||||
remuneration; 4. Approve ordinary | ||||||||
resolution approving company's incentive | ||||||||
stock option Plan, which shall be limited to | ||||||||
10% of the issued shares of the company at | ||||||||
the time of any granting of options. | ||||||||
B2GOLD | BTO CN | 11777Q951 | 9/12/2014 | 1. Resolution approving the issuance of | Company | Yes | For | For |
shares of B2Gold Corp in connection with | ||||||||
the acquisition of all of the issued and | ||||||||
outstanding shares of Papillon Resources | ||||||||
limited under an Australian scheme of | ||||||||
arrangement. |
Company Name | Company Symbol | CUSIP Number | Shareholder Meeting date | Describe The Matter Voted On | Proposed by Company or Shareholder | Did Orrell Capital vote? | How did Orrell Capital Vote? | Votes cast for or against Mgt |
ROYAL GOLD | RGLD | 780287108 | 11/14/2014 | 1. Elect directors; 2. Ratify appointment of | Company | Yes | For | For |
Ernst & Young LLP as auditors for fiscal year | ||||||||
ending June 30, 2015; 3. Proposal to approve | ||||||||
the advisory resolution relating to executive | ||||||||
compensation. | ||||||||
NEWMONT MINING | NEM | 651639106 | 4/22/2015 | 1. Elect directors; 2. Approve appointment | Company | Yes | For | For |
of independent accounting firm; 3. Approve | ||||||||
named executive officer compensation. | ||||||||
ELDORADO GOLD | EGO | 284902103 | 4/30/2015 | 1. Elect directors; 2. Appoint KPMG, LLP as | Company | Yes | For | For |
auditors; 3. Authorize directors to set auditor's | ||||||||
pay. | ||||||||
GOLDCORP | GG | 380956409 | 4/30/2015 | 1. Elect directors; 2. Appoint Deloitte LLP as | Company | Yes | For | For |
auditors, directors to fix remuneration; | ||||||||
3. Res. Approving repeal of By-Law 3 and No. 4 to | ||||||||
be replaced by an amended by-law no. 4; 4. Res. | ||||||||
approving amendments to the restricted share | ||||||||
plan; 5. Non binding res. Re: executive compen- | ||||||||
sation. | ||||||||
YAMANA GOLD | AUY | 98462Y100 | 4/30/2015 | 1. Elect directors; 2. Appoint Deloitte LLP as | Company | Yes | For | For |
auditors; 3A. Resolution proposing changes to | ||||||||
banking and signing authorities and updates to the | ||||||||
advance notice requirements; 3B. Res. Proposing | ||||||||
a forum selection provision requiring certain | ||||||||
disputes to be litigated in Ontario. |
Company Name | Company Symbol | CUSIP Number | Shareholder Meeting date | Describe The Matter Voted On | Proposed by Company or Shareholder | Did Orrell Capital vote? | How did Orrell Capital Vote? | Votes cast for or against Mgt |
AGNICO EAGLE | AEM | 008474108 | 5/12/2015 | 1. Elect directors; 2. Appoint Ernst & Young as | Company | Yes | For | For |
auditors, directors to fix remuneration; 3. Res. | ||||||||
approving amendment to company's incentive | ||||||||
share purchase plan; 4. Res. Approving | ||||||||
amendment to stock option plan; 5. Non-binding | ||||||||
res. Re: executive compensation. | ||||||||
RANDGOLD | GOLD | 752344309 | 5/4/2015 | 1. Receive audited financial statement; | Company | Yes | For | For |
2. Declare a final dividend of $0.60 per share | ||||||||
year ended 12/31/2014; 3. Approve director's | ||||||||
remuneration report for year 12/31/2014; | ||||||||
4. Approve director's remuneration policy; | ||||||||
5-14. Elect directors; 15. Re-appoint BDO, LLP as | ||||||||
auditors; 16. Authorize directors to set | ||||||||
remuneration for the auditors; 17. Authority to | ||||||||
allot shares and grant rights to subscribe for, or | ||||||||
convert any security into shares; 18. Awards of | ||||||||
ordinary shares to non-executive directors; | ||||||||
19. Award of ordinary shares to senior independent | ||||||||
director; 20. Award ordinary shares to the | ||||||||
Chairman; 21. Authority to disapply preemption | ||||||||
rights; 22. Authority for the company to purchase | ||||||||
its own ordinary shares. | ||||||||
AURICO GOLD | AUQ | 05155C105 | 5/7/2015 | 1. Elect directors; 2. Appoint KMPG LLP as | Company | Yes | For 1, 2 | For 1,2 |
auditors, directors to fix remuneration; | Against 3,4 | Against 3,4 | ||||||
3. Resolution approving amendments to the | ||||||||
company's 2014 ESPP., the unallocated shares |
Company Name | Company Symbol | CUSIP Number | Shareholder Meeting date | Describe The Matter Voted On | Proposed by Company or Shareholder | Did Orrell Capital vote? | How did Orrell Capital Vote? | Votes cast for or against Mgt |
AURICO GOLD (cont) | under the 2014 ESPP be re-approved by the | |||||||
shareholders; 2014 ESPP may be amended | ||||||||
in order to satisfy requirements or requests | ||||||||
by any regulatory authority without further | ||||||||
approval of shareholders of company; | ||||||||
4. Resolution re: executive compensation. | ||||||||
KINROSS GOLD | KGC | 496902404 | 5/6/2015 | 1. Elect directors; 2. Appoint KPMG, LLC as | Company | Yes | For | For |
auditors, directors to fix remuneration; 3. If | ||||||||
appropriate, pass resolution re: executive compen- | ||||||||
sation; 4. Reconfirm shareholder right's plan; | ||||||||
5. Approve amendments to the Articles of the | ||||||||
Company; 6. Approve if deemed appropriate | ||||||||
amendments to the By-Laws of the Company. | ||||||||
WESDOME GOLD | WDO CN | 95083R951 | 5/6/2015 | 1. Elect directors; 2. Appoint Grant Thornton LLP | Company | Yes | For | For |
as auditors, audit committee to fix remuneration. | ||||||||
ANGLOGOLD | AU | 035128206 | 5/6/2015 | 1. Re-appoint Ernst & Young as auditors; 2. A-C | Company | Yes | For | For |
Election of directors; 3. A-C Re-elect directors; | ||||||||
4. B-F Elect Audit & Risk Committee members; | ||||||||
5. General authority to directors to allot and | ||||||||
issue ordinary shares; 6A. Amend Anglogold's | ||||||||
share incentive scheme and increase the limit | ||||||||
of ordinary shares; 6B. Amend share incentive | ||||||||
scheme limit of ordinary shares; 7. Non binding | ||||||||
advisory endorsement re: remuneration policy; | ||||||||
8. Approval of non-executive directors remuneration | ||||||||
for their services; 9. Special resolution no. 2 | ||||||||
general authority to directors to issue shares for | ||||||||
cash; 10. Special res. No. 3 General authority to | ||||||||
acquire company's own shares; Res. 4 approval | ||||||||
for the company to grant financial assistance |
Company Name | Company Symbol | CUSIP Number | Shareholder Meeting date | Describe The Matter Voted On | Proposed by Company or Shareholder | Did Orrell Capital vote? | How did Orrell Capital Vote? | Votes cast for or against Mgt |
ANGLOGOLD (cont) | re: sections 44 and 45 of the company's Act; | |||||||
12. Res. No. 5. Amendment to the company's | ||||||||
memorandum of incorporation (MOI). | ||||||||
FRANCO-NEVADA | FNV | 351858105 | 5/6/2015 | 1. Elect directors; 2. Appoint Pricewaterhouse- | Company | Yes | For | For |
coopers LLP as auditors, directors to fix remuner- | ||||||||
ation; 3. Approval of amendment to by-laws | ||||||||
requiring advance notice of director nominees | ||||||||
from shareholders; 4. Approval of amendment to | ||||||||
by-laws to increase the Quorum required for a | ||||||||
shareholder meeting; 5. Acceptance re: executive | ||||||||
compensation. | ||||||||
DUNDEE PRECIOUS | DPM CN | 265269951 | 5/7/2015 | 1. Elect directors; 2. Appoint Pricewaterhouse- | Company | Yes | For | For |
METALS | coopers LLC as auditors, directors to fix | |||||||
remuneration; 3. If appropriate, pass a non- | ||||||||
binding resolution accepting corporation's | ||||||||
approach to executive compensation. | ||||||||
SILVER STANDARD | SSRI | 82823L106 | 5/13/2015 | 1. Set number of directors at eight; 2. Elect | Company | Yes | For | For |
directors; 3. Appoint Pricewaterhousecoopers LLP | ||||||||
as auditors, directors to fix remuneration; | ||||||||
4. Resolution re: Shareholder Rights Plan, | ||||||||
reconfirmed and ratified. | ||||||||
SILVER WHEATON | SLW CN | 828336958 | 5/21/2015 | A. Elect directors; B. Appoint Deloitte LLP as | Company | Yes | For | For |
auditors, directors to fix remuneration; | ||||||||
C. Non binding resolution re: executive compensation. |
Company Name | Company Symbol | CUSIP Number | Shareholder Meeting date | Describe The Matter Voted On | Proposed by Company or Shareholder | Did Orrell Capital vote? | How did Orrell Capital Vote? | Votes cast for or against Mgt |
SIBANYE GOLD | SBGL | 825724206 | 5/12/2015 | Received past deadline | No | |||
ARGONAUT GOLD | AR CN | 04016A952 | 5/5/2015 | 1. Elect directors; 2. Appoint Pricewaterhouse- | Company 1,2,3 | Yes | For 1,2,3,4,5 | For 1,2,3,4,5 |
coopers LLP as auditors, directors to fix | Shareholder | Against | Against | |||||
remuneration; 3. Adopt shareholder Rights Plan; | 4,5,6,7,8 | 6,7,8 | 6,7,8 | |||||
4. Shareholder proposal re: "say on pay" re: | ||||||||
executive compensation; 5. Shareholder | ||||||||
proposal Re: minimum share ownership for | ||||||||
CEO; 6. Shareholder proposal re: disclosure of | ||||||||
KPIS to assess performance -based portion of CEO | ||||||||
compensation; 7. Shareholder proposal No. 4-- | ||||||||
The dilution safeguard proposal; 8. Shareholder | ||||||||
proposal No. 5 - Rechtsstaat standards for | ||||||||
international investments. | ||||||||
TAHOE RESOURCES | THO CN | 873868954 | 5/8/2015 | 1. Elect directors; 2. Appoint Deloitte LLP as | Company | Yes | For | For |
auditors. | ||||||||
IAMGOLD | IAG | 450913108 | 5/11/2015 | 1. Elect directors; 2. Appoint KPMG LLP as | Company | Yes | For | For |
auditors, directors to fix remuneration; | ||||||||
3. Resolved that shareholders accept the | ||||||||
approach to executive compensation. | ||||||||
SUTTER GOLD | SGM CN | 86944A956 | 6/2/2015 | 1. Set number of directors at five; 2. Elect | Company | Yes | For 1,2,3 | For 1,2,3 |
directors; 3. Appoint Devisser Gray LLP as | Against 4 | Against 4 | ||||||
auditor, directors to fix remuneration; 4. Confirm | ||||||||
company's stock option plan. | ||||||||
ALAMOS GOLD | AGI | 011527108 | 6/3/2015 | 1. Set number of directors at six; 2. Appoint | Company | Yes | For | For |
Ernst & Young as auditors, directors to fix | ||||||||
remuneration; 4. No changes to the stock option | ||||||||
plan, Company has the ability to grant option | ||||||||
until June 3, 2018. |
Company Name | Company Symbol | CUSIP Number | Shareholder Meeting date | Describe The Matter Voted On | Proposed by Company or Shareholder | Did Orrell Capital vote? | How did Orrell Capital Vote? | Votes cast for or against Mgt |
ALACER GOLD | ASR CN | 010679959 | 6/10/2015 | 1. Elect directors; 2. Appoint Pricewaterhouse- | Company | Yes | For | For |
coopers as auditors; 3. Advisory resolution on | ||||||||
the corporation's approach to executive | ||||||||
compensation. | ||||||||
B2GOLD | BTO CN | 11777Q951 | 6/10/2015 | 1. Set number of directors at 8; 2. Elect | Company | Yes | For 1,2,3,4 | For 1,2,3,4 |
directors; 3. Appoint Pricewaterhousecoopers | Against 5 | Against 5 | ||||||
LLP as auditors, directors to fix remuneration; | ||||||||
4. Approve option plan; 5. Approve RSU Plan | ||||||||
resolution. | ||||||||
ENDEAVOUR | EDV CN | G3040R950 | 6/18/2015 | 1. Elect directors; 2. Appoint Deloitte LLP as | Company | Yes | For | For |
auditors, directors to fix remuneration; | ||||||||
3. Approve amended and restated stock option | ||||||||
plan. | ||||||||
KLONDEX MINES | KDX CN | 498696595 | 6/17/2015 | 1. Set number of directors at 8; 2. Elect | Company | Yes | For | For |
directors; 3. Appoint Pricewaterhousecoopers | ||||||||
LLP as auditors, directors to fix remuneration. | ||||||||
Aurico Gold | AUQ | 05155C105 | 6/24/2015 | 1. Approve special resolution agreement between | Company | Yes | For | For |
Aurico Gold and Alamos Gold; 2. Approve | ||||||||
ordinary resolution re: long term incentive plan | ||||||||
and employee share purchase plan of Aurico | ||||||||
Metals. | ||||||||
Alamos Gold | AGI | 011527108 | 6/24/2015 | 1. Approve a special resolution approving the | Company | Yes | For | For |
continuance of Alamos Gold under the Business | ||||||||
Corporations Act (British Columbia); 2. Resolution | ||||||||
approving the arrangement agreement between | ||||||||
Aurico Gold and Alamos Gold; 3. Res. Approving | ||||||||
long term incentive plan and employee purchase | ||||||||
plan of Aurico Metals. | ||||||||
MAG SILVER | MAG CN | 55903Q955 | 6/22/2015 | Did not receive proxy material, did not vote | No |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
OCM Mutual Fund
/s/ Gregory M. Orrell |
Gregory M. Orrell
President
July 24, 2015