In This Article:
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.