Speciality Metals International : Updated Constitution - ASX Release

ABN: 77 115 009 106 (ASX: SEI)

26 November 2020

Company Announcements Office

ASX Limited

Exchange Centre

20 Bridge Street

SYDNEY NSW 2000

Updated Constitution

In accordance with ASX Listing Rule 15.4, please find attached a copy of the updated Constitution for Speciality Metals International Limited that was approved by shareholders at the 2020 Annual General Meeting that was held earlier today.

Authorised for release to the ASX by:
	Further Enquiries:
Suzanne Irwin	Peter Taylor
Company Secretary	Investor Relations
Speciality Metals International Limited	0412 036 231
	[e-mail]

About the Company

Speciality Metals International Limited is an ASX-listed company transforming its world-class tungsten assets at Mt Carbine in North Queensland; leveraging advanced technology, historical stockpiles and unexploited resource with the aim of being the pre-eminent tungsten producer in Australia. The Company also holds gold exploration licences in New South Wales. The Company aims to create shareholder value through the exploration and development of its current portfolio whilst continuing to evaluate corporate and exploration opportunities within the new economy and critical minerals sector.

Constitution

Speciality Metals International Limited ACN 115 009 106

Adopted by special resolution on 17 June 2019 and updated on 26 November 2020

Table of contents

1	Definitions and interpretation..................................................................................	1
	1.1	Definitions .......................................................................................................................	1
	1.2	Interpretation...................................................................................................................	2
	1.3	Electronic signatures ......................................................................................................	2
2	Shares and variation of rights .................................................................................	3
	2.1	Nature of Company.........................................................................................................	3
	2.2	Issue of shares ...............................................................................................................	3
	2.3	Number of shareholders .................................................................................................	3
	2.4	Price on issue .................................................................................................................	3
	2.5	Issue of classes of shares ..............................................................................................	3
	2.6	Non-variation of rights.....................................................................................................	3
	2.7	Variation of rights ............................................................................................................	3
	2.8	Redeemable preference shares .....................................................................................	4
	2.9	Holder's right to participate in profits and property	.........................................................4
	2.10	Holder's other rights........................................................................................................	4
	2.11	Voting..............................................................................................................................	4
	2.12	Redemption of redeemable preference shares ..............................................................	4
	2.13	Restricted Securities.......................................................................................................	4
3	Brokerage and commission.....................................................................................	5
4	Shares held on trust or jointly .................................................................................	5
	4.1	Non-recognition of interests............................................................................................	5
	4.2	Joint holders of shares....................................................................................................	5
5	Certificates................................................................................................................	5
6	Lien	............................................................................................................................	6
	6.1	Lien on share ..................................................................................................................	6
	6.2	Lien on loans under employee incentive schemes	.........................................................6
	6.3	Lien on distributions........................................................................................................	6
	6.4	Exemption from clause 6.1 or 6.2 ...................................................................................	6
	6.5	Extinguishment of lien.....................................................................................................	6
	6.6	Company's rights to recover payments ..........................................................................	7
	6.7	Reimbursement is a debt due.........................................................................................	7
	6.8	Sale under lien ................................................................................................................	7
	6.9	Limitations on sale under lien .........................................................................................	7
	6.10	Transfer on sale under lien .............................................................................................	7
	6.11	Irregularity or invalidity ....................................................................................................	7
	6.12	Proceeds of sale .............................................................................................................	7
7	Calls on shares.........................................................................................................	8
	7.1	Payments due on fixed dates .........................................................................................	8
	7.2	Calls ................................................................................................................................	8
	7.3	Notification of call............................................................................................................	8
	7.4	Non-receipt of notice.......................................................................................................	8
	7.5	Revocation of call ...........................................................................................................	8
	7.6	Deemed time of call ........................................................................................................	8
	7.7	Liability of joint holders ...................................................................................................	8
	7.8	Interest on outstanding sums .........................................................................................	8
	7.9	Differentiation between holders ......................................................................................	8
	7.10	Pre-payment of calls .......................................................................................................	8
	7.11	Suspension of privileges.................................................................................................	9
	7.12	Recovery of amounts due...............................................................................................	9
8	Alteration of capital ..................................................................................................	9
	8.1	Power..............................................................................................................................	9
	8.2	Reduction of capital ........................................................................................................	9
Approved by shareholders on 26 November 2020	Constitution of Speciality Metals International Limited

			Page ii
9	Transfer of securities ...............................................................................................	9
	9.1	Participation in computerised or electronic systems ......................................................	9
	9.2	Form of transfers .........................................................................................................	10
	9.3	Registration procedure ................................................................................................	10
	9.4	Transfers and certificates ............................................................................................	10
	9.5	Directors' powers to apply a Holding Lock and decline to register..............................	10
	9.6	Non-interference with registration................................................................................	11
	9.7	Instruments of transfer retained...................................................................................	11
10	Closure of register..................................................................................................	11
11	Transmission of shares .........................................................................................	11
	11.1	Recognised interests ...................................................................................................	11
	11.2	Transmission ...............................................................................................................	12
	11.3	Personal representatives and joint holders .................................................................	12
12	Forfeiture of shares................................................................................................	12
	12.1	Procedure for forfeiture................................................................................................	12
	12.2	Application to dividends ...............................................................................................	12
	12.3	Rights of sale ...............................................................................................................	13
	12.4	Surrender instead of forfeiture .....................................................................................	13
	12.5	Cessation as a member...............................................................................................	13
	12.6	Evidence of forfeiture...................................................................................................	13
	12.7	Manner of forfeiture .....................................................................................................	13
	12.8	Residue on sale ...........................................................................................................	13
	12.9	Certificates ...................................................................................................................	13
	12.10	Application to further calls............................................................................................	13
13	General meetings ...................................................................................................	14
	13.1	Annual General Meetings ............................................................................................	14
	13.2	Power to convene ........................................................................................................	14
	13.3	Power to postpone.......................................................................................................	14
	13.4	Business at postponed meeting ..................................................................................	14
	13.5	Notice...........................................................................................................................	14
	13.6	Notice period and content............................................................................................	14
	13.7	Circular resolution ........................................................................................................	14
	13.8	Omissions ....................................................................................................................	14
14	Proceedings at general meetings..........................................................................	14
	14.1	Use of technology ........................................................................................................	14
	14.2	Quorum ........................................................................................................................	15
	14.3	Effect of no quorum .....................................................................................................	15
	14.4	Chairperson .................................................................................................................	15
	14.5	Vacancy in chairperson ...............................................................................................	15
	14.6	Adjournment ................................................................................................................	15
	14.7	Notice where a meeting is adjourned for 30 days .......................................................	15
	14.8	Form of notice for adjourned meeting..........................................................................	15
	14.9	Voting on show of hands .............................................................................................	15
	14.10	Poll ...............................................................................................................................	16
	14.11	Chairperson's vote .......................................................................................................	16
	14.12	Proxy holders and representatives voting rights .........................................................	16
	14.13	Votes of joint holders ...................................................................................................	16
	14.14	Incapacity.....................................................................................................................	16
	14.15	Disentitlement to vote ..................................................................................................	17
	14.16	Objection to voter.........................................................................................................	17
	14.17	Decisions .....................................................................................................................	17
	14.18	Admission to general meetings ...................................................................................	17
	14.19	Auditor's right to be heard............................................................................................	17
15	Proxy	.......................................................................................................................	17
	15.1	Appointment of proxy ...................................................................................................	17
	15.2	Form of proxy...............................................................................................................	18

Constitution of Speciality Metals International Limited