(Alliance News) - Aura Energy Ltd on Tuesday said it has received a notice from a shareholder to call a general meeting in order to propose three motions, including the immediate removal of the company's chair.
Pre-Emptive Trading Pty Ltd, which holds a 5.9% stake in the Aura, served the Australia-based minerals firm the requisition notice.
If the meeting does take place, shareholders will vote on whether to immediately oust Chair Peter Reeve, cancel his 17.5 million performance shares, and appoint John Bennett a non-executive director.
Aura said: "The company is seeking legal advice in relation to the Requisition Notice and will update the market in due course."
Shares in Aura were trading 8.4% lower at 0.44 pence each in London on Tuesday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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Aura Egy (AURA)