29th Oct 2019 14:22
(Alliance News) - Aura Energy Ltd on Tuesday said a shareholder has withdrawn a meeting to oust directors, without giving a reason.
A week ago, Pre-Emptive Trading Pty Ltd, which holds a 5.9% stake in Aura, served the Australia-based minerals firm a requisition notice for a meeting to vote on the removal of Chair Peter Reeve and the appointment of John Bennett as a non-executive director.
The move would also have seen Reeve lose his 17.5 million performance shares.
On Friday last week, Aura then decided, after legal advice, the proposals to remove Reeve and cancel his performance shares were invalid. However, a meeting to appoint Bennett was to be held by no later than December 18.
However, Melbourne-based Aura said the last proposal has been withdrawn, adding it will keep shareholders informed.
Shares were 6.7% lower on Tuesday afternoon in London at a price of 0.35 pence each.
By George Collard; [email protected]
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