Business
Notice of EGM
Notice of EGM.
About this update from Petro Matad Limited
[{"type":"text","content":"\n RNS Number : 4233X Petro Matad Limited 06 December 2010 \n \n\n \nPetro Matad Limited (\"Petro Matad\" or the \"Company\")\nNotice of Extraordinary General Meeting (\"EGM\")\n \n \nThe Company announces that it has today posted a notice to shareholders giving notice that an EGM will be held at 4 p.m. local time (8 a.m. GMT) on 22 December 2010 at NIC Building, Amar Street 8, Sukhbaatar District, Ulaanbaatar, Mongolia (the \"Notice\").\n \nAt this meeting, Shareholders will be asked to pass resolutions to approve: (1) the appointment of Deloitte as the auditors of the Company; (2) that the Company be authorised to send, convey or supply all types of notices, documents or information to the shareholders of the Company by means of electronic communication; and (3) amendment be made to the Company's Articles of Association.\n \nThe Notice provides information concerning the background to, and the reasons for, the proposals and explains why your Directors recommend that you vote in favour of the Resolutions at the EGM. \n \nRESOLUTIONS TO BE PROPOSED AT THE EGM\nAppointment of Auditors (Resolution 1) \nWe are asking shareholders to approve the appointment of Deloitte as the auditors of the Company. PKF Chartered Accountants & Business Advisers of Perth, Western Australia (PKF Australia) have acted as the Company's auditors since 2007. The audit partners and staff of PKF Australia recently resigned from PKF Australia and joined the national audit practice of Deloitte in Australia and PKF Australia is in the process of being dissolved. \nThe Company's articles of association (the Articles) stipulate that auditors of the Company (other than the first auditors) shall be appointed by a resolution of shareholders. Resolution 1 will, if approved by the shareholders and subject to the Company obtaining the necessary regulatory consents in the Isle of Man, authorise the appointment of Deloitte as the auditors of the Company.\nElectronic Communications with Shareholders (Resolutions 2 and 3)\nThe Isle of Man Companies Act 2006 provides that any notice required to be given to a shareholder shall be served in the manner specified in the Articles. The Articles provide that the Company may give notices or documents to any member using electronic communication to an address for the ti...