Metals Exploration PLC Notice of General Meeting (8250J)
September 14 2016 - 5:19AM
UK Regulatory
TIDMMTL
RNS Number : 8250J
Metals Exploration PLC
14 September 2016
14 September 2016
METALS EXPLORATION PLC
(the "Company")
Notice of General Meeting
As announced by the Company on 8 September 2016, the debt
restructuring discussions are ongoing with the HongKong Shanghai
Banking Corporation Limited and BNP Paribas. Your Board has decided
that it would be prudent to convene a General Meeting to seek
shareholder authority to allot shares on a non pre-emptive basis as
a contingency measure should it be necessary to raise additional
working capital prior to the Company's next Annual General
Meeting.
The General Meeting of the Company will take place at the
Company's registered office, 200 Strand, London WC2R 1DJ at 11.00
a.m. on 4 October 2016. Notice of the General Meeting and Forms of
Proxy will be posted to shareholders on 20 September 2016. The
resolutions to be proposed at the General Meeting will be as
follows:
Resolution 1 - Authority of Directors to allot shares
This is an ordinary resolution granting general authority to the
directors to allot new ordinary shares up to the threshold
described in the Resolution, namely, up to an aggregate nominal
amount of GBP1,904,436.47 (equal to approximately 10 per cent. of
the nominal value of the issued share capital of the Company as at
the date of this notice). If the authority is granted it would be
exercised only if the directors believe that to do so would be in
the best interests of the Shareholders as a whole. The authority
will expire at the conclusion of the next Annual General Meeting
held by the Company following the passing of this resolution.
Resolution 2 - Dis-application of pre-emption rights
This is a special resolution authorising the directors to allot
ordinary shares for cash up to the threshold described in
Resolution 1 on a non pre-emptive basis pursuant to the authority
conferred by Resolution 1 above. This will allow the Board to move
quickly as it deems appropriate without recourse to the
shareholders in the event that it considers it necessary to raise
additional working capital. This authority will expire at the
conclusion of the next Annual General Meeting held by the Company
following the passing of Resolution 1 above.
The Board believes the proposed resolutions to be in the best
interests of the Company and its members as a whole and we
unanimously recommend that shareholders vote in favour of all the
proposed resolutions.
For further information please visit or contact
www.metalsexploration.com
Ian R. Holzberger +63 (0) 9189 795 992
(Chairman) +61 (0) 418 886 165
Liam A. Ruddy +61 (0) 498 648 615
(Company Secretary) +44 (0) 7911 719 960
Nominated Adviser: STOCKDALE SECURITIES Ltd
Robert Finlay, Edward Thomas +44 (0) 207 601 6100
Public Relations: TAVISTOCK
Barnaby Hayward; Jos Simson +44 (0) 207 920 3150
Broker: SP ANGEL CORPORATE FINANCE LLP
Ewan Leggat +44 (0) 203 470 0470
This information is provided by RNS
The company news service from the London Stock Exchange
END
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