Sydney, Nov 6, 2008 AEST (ABN Newswire) - On the eve of a crucial vote to give Indophil Resources (ASX:IRN) the authority and flexibility to consider selling its interest in the world-class Tampakan Copper-Gold Project, the Board of the Australian-listed company has called on shareholders to rally behind the Board and vote 'FOR' the resolution.
On Wednesday, 12 November, a General Meeting will be held in Melbourne to consider the resolution.
While the Board of Indophil remains confident of securing greater than 50% of the votes cast on the resolution, it has today expressed concern at the heightened campaign being waged by Swiss-based giant Xstrata to scuttle the process in what Indophil's Chairman Brian Phillips branded a campaign of self-interest.
"The Board of Indophil is determined to act in the best interests of all shareholders, not just Xstrata (LON:XTA) which has evidently set itself on a course to test the resolve of our shareholders in what appears to be yet another attempt to prevent anyone aside from Xstrata acquiring Indophil's interest in the Tampakan Project. We call on all shareholders to ensure they lodge their proxies and vote 'FOR' this crucial resolution," he said.
Xstrata (LON:XTA) this week launched a direct mail campaign to Indophil shareholders, underpinned by a phone campaign, appealing to them as "fellow Indophil shareholders" to vote against the resolution.
'Make no mistake - Xstrata is not interested in the welfare of other Indophil shareholders. Xstrata's campaign is one of self interest, and Indophil shareholders should not be misled by Xstrata's campaign," Mr Phillips said.
Ignore Xstrata's attempt to secure your support.
Your vote is important. Make it count. Don't abstain.
Vote 'FOR' the resolution
The official Notice of Meeting, Explanatory Memorandum and Proxy Form were mailed to all shareholders a few weeks ago.
You will have received this week a pre-populated Proxy Form from Xstrata urging you to vote 'against' the resolution. Ignore it. If you have mistakenly lodged the Xstrata proxy, then on request we will arrange a replacement proxy.
If you have not yet lodged your official proxy in support of the resolution, please do so TODAY.
If you have questions, email 'indophil@indophil.com' or if you cannot find your paperwork, email 'web.queries@computershare.com.au' for a replacement Proxy Form. Proxies must be received no later than 10am AEST on Monday 10 November.
If you have phoned the so-called "Indophil Shareholder Helpline" referred to in Xstrata's direct mail campaign, believing this to be Indophil endorsed, this has not been authorised by Indophil. Do not be misled.
Contact
Gavan Collery,
Manager Corporate Affairs
Indophil Resources NL
Phone: +61 419 372210
Email: gavan.collery@indophil.com
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