Business
Oremex Silver announces new shareholders meeting date and item of special business
TORONTO, June 4, 2012 /CNW/ - Oremex Silver Inc. ("Oremex" or the "Company") (TSX Ventur...
About this update from Monarca Minerals Inc.
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, June 4, 2012 /CNW/ - Oremex Silver Inc. (\"Oremex\" or the \"Company\") (TSX Venture: OAG) (OTCQX: ORAGF) (Frankfurt: OSI) announces that the Company's board of directors has set Friday, June\n 29, 2012 at 10:00 am EST as the rescheduled date and time for its\n annual and special meeting of shareholders (the \"Meeting\") to be held\n at the offices of Wildeboer Dellelce LLP located at Suite 800, 365 Bay\n Street, Toronto, Ontario.\n\n\nIn addition, the Company announces that it has put forth an additional\n item of special business for consideration by shareholders at the\n Meeting. As a result of the historically high stated capital amount\n attributable to the common shares of the Company, the Company would, as\n at the date hereof, be precluded from effecting a dividend-in-kind\n payment to holders of its common shares in accordance with certain\n statutory restrictions. As such, at the Meeting, shareholders will be\n asked to vote on a special resolution authorizing the Company to reduce\n the stated capital of the common shares of the Company to $10 million,\n or such other amount as may be determined by the board of directors of\n the Company, for the reasons as further described in the amended notice\n of meeting and supplement to management proxy circular dated June 4,\n 2012 (the \"Supplemental Circular\"). In addition, the Board of Directors\n may determine not to proceed with the reduction in stated capital or\n the payment of the dividend-in-kind, even though the shareholders have\n approved the resolution to reduce the stated capital of the Company.\n\n\nThe record date for the meeting continues to be May 1, 2012. The\n deadline for the deposit of proxies with respect to the rescheduled\n Meeting has been extended to 10:00 am EST on Wednesday, June 27, 2012.\n Any proxy deposited with respect to the original Meeting date will\n continue to be valid at the rescheduled Meeting, unless revoked by the\n shareholder.\n\n\nShareholders are encouraged to read the Supplemental Circular, to be\n delivered to shareholders within the next few days, and to deposit a\n proxy with respect to the new special matter described in the\n Supplemental Circular. A copy of the Supplemental Circular is available\n under the corporate profile of Oremex on the System for Electronic\n Document Analysis and Retrieval (SED...