The Board of Metgasco Limited (“the Company”) wish to advise that it has received a notice from M&A Advisory Pty Ltd under section 203D of the Corporations Act (Cth) (“Notice”) of their intention to move resolutions at a meeting of Metgasco Limited shareholders convened under section 249F of the Corporations Act to:
Resolution 1: Ordinary Resolution to Remove a Director
"THAT Alexander Lang be removed as a director of the Company with immediate effect."
Resolution 2: Ordinary Resolution to Remove a Director
"THAT Philip Amery be removed as a director of the Company with immediate effect."
M&A Advisory Pty Ltd currently has voting power of 69,512,846 shares or approximately 17.33%.
At this stage, M&A Advisory Pty Ltd have not lodged with the Company a notice under section 249F of the Corporations Act and have not confirmed its proposed director replacements nor its timing of calling a general meeting of Metgasco shareholders.
The Company is currently taking legal advice in relation to the validity of the Notice and the Company will keep shareholders advised of any material developments.
Alexander Lang, Executive Chairman
Phone: +61 02 9923 9100