(Alliance News) - Thor Mining PLC on Thursday said it withdrew resolutions 3 and 8 from its annual general meeting after receiving proxies.
Shares in Thor closed down 15% at 0.24 pence in London.
Resolution 3 was for the re-appointment of Alastair Middleton, who has opted not to seek re-election and is therefore stepping down immediately.
"The Thor directors would like to thank him for his work on behalf of the company and to wish him well for the future," said Thor, which holds a 40% stake in the Bonya joint venture located in Northern Territory of Australia.
Resolution 8 would have authorised directors to issue 10% of issued shares in Thor under ASX Listing Rule 7.1A. This rule permits Australia-listed companies to issue another 10% of issued capital by way of placements in a 12 month period provided they obtain shareholder approval at an AGM.
Thor said the resolution withdrawal followed receipt of proxies before the meeting took place.
At the AGM, all resolutions except resolution 2, to re-appoint David Thomas as a director, were passed. Thomas has stood down as director after 81.3 million votes were cast in favour of his re-appointment, while 153.6 million were against.
Approved resolutions allow the company to complete its placing, as announced in October, of 141.7 million shares.
By Anna Farley; annafarley@alliancenews.com
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Thor Energy (THR)