Besra Gold Inc. Announces Postponement of Special Meeting of Shareholders
Besra Gold Inc. (BESAF) has announced the postponement of its special shareholders' meeting from May 26, 2025, to June 23, 2025. The meeting was initially called to consider the removal of Dato Lim Khong Soon from the Board. In response, Quantum Metal Recovery Inc, controlled by Lim, has requested a separate shareholders' meeting to remove all directors except Lim and elect three new nominees.
The Board's decision to postpone the meeting aims to provide additional time for potential engagement with Quantum and to avoid a potential proxy contest. The record date for shareholder voting eligibility remains at 5:00 pm Melbourne time on May 5, 2025. Norton Rose Fulbright Canada LLP is serving as legal counsel to Besra for the Special Meeting.
Besra Gold Inc. (BESAF) ha annunciato il rinvio della sua assemblea speciale degli azionisti dal 26 maggio 2025 al 23 giugno 2025. L'assemblea era stata convocata inizialmente per discutere la rimozione di Dato Lim Khong Soon dal Consiglio di Amministrazione. In risposta, Quantum Metal Recovery Inc, controllata da Lim, ha richiesto una riunione separata degli azionisti per rimuovere tutti i direttori tranne Lim e nominare tre nuovi candidati.
La decisione del Consiglio di rinviare l'assemblea mira a concedere più tempo per un possibile dialogo con Quantum e a evitare una potenziale contesa per procura. La data di riferimento per l'idoneità al voto degli azionisti rimane fissata alle 17:00 ora di Melbourne del 5 maggio 2025. Norton Rose Fulbright Canada LLP è il consulente legale di Besra per l'Assemblea Speciale.
Besra Gold Inc. (BESAF) ha anunciado el aplazamiento de su junta especial de accionistas del 26 de mayo de 2025 al 23 de junio de 2025. La reunión fue convocada inicialmente para considerar la destitución de Dato Lim Khong Soon del Consejo de Administración. En respuesta, Quantum Metal Recovery Inc, controlada por Lim, ha solicitado una junta separada de accionistas para destituir a todos los directores excepto a Lim y elegir tres nuevos candidatos.
La decisión del Consejo de aplazar la reunión busca proporcionar tiempo adicional para un posible diálogo con Quantum y evitar una posible disputa por poder. La fecha de registro para la elegibilidad de voto de los accionistas sigue siendo a las 5:00 p.m., hora de Melbourne, el 5 de mayo de 2025. Norton Rose Fulbright Canada LLP actúa como asesor legal de Besra para la Junta Especial.
Besra Gold Inc. (BESAF)는 2025년 5월 26일로 예정되었던 임시 주주총회를 2025년 6월 23일로 연기했다고 발표했습니다. 이 회의는 원래 Dato Lim Khong Soon의 이사회 해임을 논의하기 위해 소집되었습니다. 이에 대해 Lim이 지배하는 Quantum Metal Recovery Inc는 Lim을 제외한 모든 이사를 해임하고 세 명의 새로운 후보를 선출하기 위한 별도의 주주총회 소집을 요청했습니다.
이사회의 회의 연기 결정은 Quantum과의 잠재적 협의를 위한 추가 시간을 제공하고 대리 투표 경쟁을 피하기 위한 것입니다. 주주 투표 자격 기준일은 2025년 5월 5일 멜버른 시간 오후 5시로 유지됩니다. Norton Rose Fulbright Canada LLP가 Besra의 임시 주주총회 법률 고문으로 활동하고 있습니다.
Besra Gold Inc. (BESAF) a annoncé le report de son assemblée générale extraordinaire des actionnaires, initialement prévue le 26 mai 2025, au 23 juin 2025. Cette réunion avait été convoquée pour envisager la révocation de Dato Lim Khong Soon du conseil d'administration. En réponse, Quantum Metal Recovery Inc, contrôlée par Lim, a demandé la tenue d'une assemblée générale distincte afin de révoquer tous les administrateurs sauf Lim et d'élire trois nouveaux candidats.
La décision du conseil de reporter la réunion vise à accorder un délai supplémentaire pour un éventuel dialogue avec Quantum et à éviter un conflit de procuration. La date de référence pour l'éligibilité au vote des actionnaires reste fixée au 5 mai 2025 à 17h00, heure de Melbourne. Norton Rose Fulbright Canada LLP agit en tant que conseil juridique de Besra pour cette assemblée extraordinaire.
Besra Gold Inc. (BESAF) hat die Verschiebung seiner außerordentlichen Hauptversammlung der Aktionäre vom 26. Mai 2025 auf den 23. Juni 2025 bekanntgegeben. Die Versammlung wurde ursprünglich einberufen, um die Abberufung von Dato Lim Khong Soon aus dem Vorstand zu prüfen. Als Reaktion darauf hat Quantum Metal Recovery Inc, das von Lim kontrolliert wird, eine separate Hauptversammlung beantragt, um alle Vorstandsmitglieder außer Lim abzuberufen und drei neue Kandidaten zu wählen.
Der Beschluss des Vorstands, die Versammlung zu verschieben, soll zusätzliche Zeit für mögliche Gespräche mit Quantum bieten und einen möglichen Stellvertreterkampf vermeiden. Das Stichtagsdatum für die Stimmberechtigung der Aktionäre bleibt der 5. Mai 2025 um 17:00 Uhr Melbourne-Zeit. Norton Rose Fulbright Canada LLP fungiert als Rechtsberater von Besra für die außerordentliche Hauptversammlung.
- None.
- Potential proxy contest and board instability threatening corporate governance
- Internal management conflict between current board and Dato Lim Khong Soon
- Additional expenses and company resources being diverted to resolve board disputes
Melbourne, Victoria, Australia--(Newsfile Corp. - May 5, 2025) - Besra Gold Inc (ASX: BEZ) (Besra or the Company) today announced that the Company's board of directors (the Board) has resolved to postpone the upcoming special meeting (the Special Meeting) of shareholders of Besra (Shareholders), which was scheduled to be held on 26 May 2025 (corresponding to 27 May 2025 in Australia). The Special Meeting will now take place on 23 June 2025 (corresponding to 24 June 2025 in Australia). The record date for determining Shareholders entitled to receive notice of and to vote at the Special Meeting will be 5:00 pm (Melbourne time) on 5 May 2025.
As previously announced, following the Company's announcement that the Special Meeting would be convened for Shareholders to consider the proposed removal of Dato Lim Khong Soon from the Board, Quantum Metal Recovery Inc (Quantum), a company controlled by Mr Lim, purported to requisition a meeting of Shareholders for the purpose of removing each of the Company's directors other than Mr Lim and electing three new director nominees proposed by Quantum (the Quantum Nominees). Since receiving the requisition, Besra has engaged with Quantum with a view to obtaining sufficient information regarding the Quantum Nominees to fully inform Shareholders about the important voting decision they face. Quantum has not advised whether it intends to disseminate a dissident proxy circular.
The Board has determined that the postponement of the Special Meeting is in the best interests of Besra and its Shareholders as it will provide additional time for, among other things, a determination by the Board as to whether further engagement with Quantum may enable the Company to avoid the distraction and expense of a proxy contest.
Advisors
Norton Rose Fulbright Canada LLP is acting as legal counsel to Besra in connection with the Special Meeting.
This announcement was authorised for release by the Board of Besra Gold Inc.
For further information, please contact:
Michael Higginson
Director and Company Secretary
Email: michael.higginson@besra.com
N. America
James Hamilton, Investor Relations
M: +1-416-471-4494
Forward-Looking Statements:
This news release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking statements"). In some cases, forward-looking statements are identifiable by the terminology used, such as "may," "expect," "believe," "plan," "anticipate," "intend," "could," "estimate," "continue," or similar expressions or the negative of such expressions. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances are considered forward-looking statements. Forward-looking statements in this news release include, among other things, references, expressed or implied, to the date of the Special Meeting and the matters to be considered by Shareholders at the Special Meeting.
Forward-looking statements are subject to known and unknown risks and uncertainties and other factors, some of which are beyond the control of Besra, which could cause actual events, results, expectations, achievements or performance to differ materially. These risks and uncertainties include, but are not limited to, the possibility that the Special Meeting will be further postponed or adjourned and other risks and uncertainties. The foregoing list of risks and uncertainties is not exhaustive.
Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the date made. The forward-looking statements contained in this news release represent the Company's expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable laws. All of the forward-looking statements contained in this news release are expressly qualified by the foregoing cautionary statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250882
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