Request for Requisition of Meeting
Perth, May 20, 2014 AEST (ABN Newswire) - Bauxite Resources Limited (
ASX:BAU) (BXRDF:OTCMKTS) ("BRL" or the "Company") advises that it has received a notice dated 19 May 2014 ("Notice") from Scarborough Equities Pty Ltd ("Scarborough") requisitioning a meeting of shareholders of the Company under section 249D of the Corporations Act 2001(Cth) ("Act") to consider, and if thought fit, to pass a resolution to elect Christopher Bruce Ryan as a director of the Company.
The Notice was enclosed with a letter from Scarborough's Chairman, Mr Farooq Khan. Scarborough, which is a wholly owned subsidiary of Bentley Capital Limited, holds 5.004% of the issued shares in the Company.
The BRL Board considered an earlier request from Scarborough for the appointment of Mr Ryan to the Board and, after canvassing the views of major shareholders, determined that they did not support the nomination and accordingly were not prepared to appoint Mr Ryan to the Board.
The Notice specifically seeks to have the following resolution put:
"That, for the purposes of clause 13.3 of the constitution of the Company and for all other purposes, Christopher Bruce Ryan be elected a Director of the Company"
Unless this Notice is withdrawn prior to the meeting, the Company will now take the necessary steps to convene a general meeting in order to put the proposed resolution to shareholders in compliance with the Act.
About Bauxite Resources Limited
Bauxite Resources (ASX:BAU) (OTCMKTS:BXRDF) was established with a substantial tenement holding in Western Australia to develop new bauxite supply for the global alumina/aluminium industry. The Company listed on the Australian Securities Exchange (ASX) in October 2007.
The Darling Range in the south-west of Western Australia (WA) is the world's largest bauxite mining and alumina refining region producing around 20% of the world's alumina. This area has mined bauxite and refined alumina since the 1960s. These industries are leaders in sustainable resource development and represent the fifth largest sector of WA's resource industry.
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