Notice of General Meeting - Advanced Manufacturing
Perth, Jan 12, 2015 AEST (ABN Newswire) - Valence Industries (
ASX:VXL) Dear Shareholder, I am taking this opportunity to elaborate on the reasons for holding this particular Shareholder Meeting. At the recent Annual General Meeting we belatedly withdrew several motions pertaining to planned incentives for Board and Executives on the good advice of several of our shareholders, following which, we undertook a constructive review and developed outcomes.
This year, Valence is embarking on a challenging program to establish a new company of world class standing in the field of Advanced Manufacturing. This is the year for launching a substantially refurbished processing plant, building a second "hi tech" and much larger plant and selling output of much more than commodity style graphite into markets demanding sophisticated products for their sophisticated needs.
Additionally we will be seeking to establish new and expanded mine sites to provide the raw material for our Advanced Manufacturing enterprise. This will necessitate further approvals in the fields of water conservation and environment as we pursue our goal of expanding our mining reserves.
To achieve these goals we need to develop an excellent team and practise excellent teamwork, strong leadership and diligence at all levels. With that in mind, we will establish incentives to both encourage and reward specific achievements based directly on sensibly stringent budgets, in clearly defined areas of endeavour.
I am highlighting this point to ensure a clear understanding that the incentives referred to in the attached agenda are not just for directors looking after themselves.
The motions we ask you to consider as shareholders, while a legal necessity in considering allocation to any director, we are asking you to approve and support the spirit and intent of incentivisation, as such, and to understand that we sincerely and with wisdom will recognise the value of our team not specifically listed in the motions.
Please read the Explanation Notes accordingly:
http://media.abnnewswire.net/media/en/docs/ASX-VXL-838297.pdf
Graham Spurling
Chairman
About Valence Industries Ltd
Valence Industries Limited (ASX:VXL) is an industrial manufacturing company producing high grade flake graphite products for distribution and sale to global markets. Valence Industries owns established processing facilities and infrastructure to manufacture a wide range of graphite product lines for multiple applications and multiple industries. Valence Industries produces and sells its graphite products from its Uley Graphite facilities in regional South Australia for delivery to diversified markets for graphite in the Asia Pacific, Europe and North America. Visit Valence Industries
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