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Results of AGM 22 November 2007

23rd Nov 2007 07:00

OILEX LTD23 November 2007The Manager

Centralised Company Announcement Office

Australian Stock Exchange Limited

10th Floor, 20 Bond StreetSYDNEY NSW 2000Dear Sir,

RE: RESULTS OF ANNUAL GENERAL MEETING - 22 NOVEMBER 2007

We have pleasure in advising that all resolutions put to the Annual General Meeting of Shareholders, held at 5.00pm on Thursday 22 November 2007 were passed unanimously on a show of hands as detailed below:

As Ordinary Resolutions

1. Re-election of Mr. Raymond Barnes as a Director

2. Adoption of Remuneration Report

3. Issue of Options to a Director - Dr. Bruce McCarthy

4. Issue of Options to a Director - Mr. Raymond Barnes

5. Issue of Options to a Director - Mr. Max Cozijn

6. Issue of Options to a Director - Mr. Laxmi Bhandari

Proxy Votes

There were a total of 51 valid proxies received. These proxy votes wererecorded as follows: IN FAVOUR OF FOR AGAINST ABSTAIN TOTAL THE CHAIRMAN (CAN'T VOTE) Resolution 1 95,614 33,507,706 3,000 2,004,443 35,610,763 Resolution 2 95,614 34,113,077 17,000 1,385,072 35,610,763 Resolution 3 95,614 31,482,531 2,938,872 1,093,746 35,610,763 Resolution 4 95,614 31,951,792 2,938,872 624,485 35,610,763 Resolution 5 95,614 31,860,663 2,903,872 750,614 35,610,763 Resolution 6 95,614 26,860,663 2,903,872 5,750,614 35,610,763

For and on behalf of the Board

M.D.J. CozijnChairman

cc: Directors - BMcC/RB/GIJ/LLB

ABN 50 078 652 632

Level 3, 50 Kings Park Road West Perth WA 6005 Australia, PO Box 588 West Perth

WA 6872 Australia Telephone: (+61 8) 9226 5577 Facsimile: (+61 8) 9226 2108

Email: [email protected] Web: www.oilex.com.au

OILEX LTD

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