(Alliance News) - Aura Energy Ltd on Monday said it received yet another notice from a shareholder to call a general meeting, but a bid to remove the company's chair was not valid.
Pre-Emptive Trading Ltd, which holds a 5.9% stake in the Aura, served the Australia-based minerals firm a requisition notice. The notice was identical to one that Pre-Emptive issued in October, Aura said, which proposed a motion to oust Aura Chair Peter Reeve.
After receiving legal advice, the company said that the only valid motion in the Pre-Emptive notice was a bid to add John Bennett to the Aura board as a non-executive director.
Aura said: "Accordingly, the company will dispatch to all shareholders a notice for the requisition meeting."
In October, Pre-Emptive withdrew its initial general meeting request, without giving a reason, Aura noted.
Aura shares were 4.6% lower at 0.31 pence each in London on Monday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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Aura Egy (AURA)