Result of Meeting

RNS Number : 9618Y

Aura Energy Limited

07 January 2020

 

7 January 2020

AURA energy limited

rESULTS OF GENERAL mEETING

Aura Energy Limited (AEE) advises that the resolution put to the Extraordinary General Meeting on 6 January 2020 resulted in the election of Mr JL Bennett as a Director to the Board of Aura Energy Limited ("Aura" or "Company").

The Aura Board, as constituted prior to the election of Mr Bennett, is extremely concerned at this development given the ongoing legal action against Pre Emptive Trading Pyt Ltd, an entity controlled by Mr Bennett and his family that are now the subject of a writ with the Supreme Court of Victoria where the company is seeking damgaes.

The vote today was passed by a slim margin of approximately 33.4 million shares representing approximately 2% of the issued share capital of the Company. The Board notes that the motion would have been defeated by over 200 million shares had it not been for the voting of a single shareholder.

With only 26% of the Company shares voted in favour of the resolution, the Board does not consider this result to be a clear indication of the wishes of the majority of the Company's shareholders.

The Aura Board today resolved, given the unprecedented situation of having ongoing litigation against a subsequently- elected Director, to assess, with the appropriate legal advice, the degree to which Mr Bennett can be included in the Company's activities and the degree to which information can be released to him. At this stage the Board believes that this will be very limited until the litigation has been resolved.

The Board would like to thank those shareholders who voted against this resolution and to assure all shareholders that Directors remain focussed on continuing to work in their best interests, including the realisation of the recognised value of its substantial asset base.

For further information please contact:

Aura Energy Limited Peter Reeve (Executive Chairman) SP Angel Corporate Finance LLP (Nominated Advisor and Joint Broker) Ewan Leggat Caroline Rowe WH Ireland Limited (Joint Broker) Adrian Hadden James Sinclair-Ford Yellow Jersey PR Limited Felicity Winkles Joe Burgess

Telephone: [phone] [e-mail] Telephone: [phone] Telephone: [phone] Telephone: [phone]

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

GENERAL MEETING

Monday, 06 January 2020

Voting Results

The following information is provided in accordance with section 251AA(2) of the Corporations Act 2001 (Cth).

Resolution details

Instructions given to validly appointed proxies (as at proxy close)

Number of votes cast on the poll (where applicable)

Resolution Result

Resolution

Resolution Type

For

Against

Proxy's Discretion

Abstain

For

Against

Abstain*

Carried / Not Carried

1 Appointment of Mr John Bennett as a Director

Ordinary

389,141,426

327,176,046

15,516,545

681,205

389,141,426

355,715,087

681,205

Carried

53.17%

44.71%

2.12%

52.24%

47.76%

 

END

 

 

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