19 Oct 2016 16:00
EL ORO LTD.
(a non-cellular registered closed-ended investment company with liability limited by shares incorporated in Guernsey with registration number 49778)
NOTICE OF ANNUAL GENERAL MEETING AND PROPOSED AMENDMENT TO ARTICLES OF INCORPORATION
NOTICE IS HEREBY GIVEN that the Company's SEVENTH ANNUAL GENERAL MEETING and the ONE HUNDRED AND TWELFTH ANNUAL GENERAL MEETING OF THE EL ORO GROUP will be held on 17 November 2016 at 41 Cheval Place, London SW7 1EW at 12 noon for the following purposes:
Ordinary resolutions:
1. To receive the Directors' report and the consolidated financial statements for the year ended 30 June 2016.
2. To re-appoint PricewaterhouseCoopers CI LLP as Auditor of the Company, to hold office until the conclusion of the next General Meeting at which financial statements are laid before the Company and to authorise the Directors to fix their remuneration.
3. To authorise the payment of a final dividend of 2.405 pence per Ordinary Share for the year-ended 30 June 2016.
4. To authorise the Company generally and unconditionally to make market purchases within the meaning of Section 315 of the Companies (Guernsey) Law 2008, the authority for market acquisitions set forth in Article 4.7 of the Company's Articles of Incorporation to be approved and restated on the basis that Ordinary Shares in the capital of the Company ("Shares") may be purchased upon or subject to the following conditions:
a) the maximum number of Shares hereby authorised to be purchased is 6,111,558;
b) the maximum price at which Shares may be purchased shall be 5% above the average of the middle market quotations for the Shares as taken from the Channel Islands Stock Exchange Daily Official List for the five business days preceding the date of purchase and the minimum price shall be 5 pence per share, in both cases exclusive of expenses; and
c) the authority to purchase conferred by this Resolution shall expire on the date falling eighteen months after the date of this resolution or, if earlier, at the conclusion of the next Annual General Meeting of the Company after the passing of this Resolution, save that the Company may before such expiry enter into a contract of purchase under which such contract may be completed or executed wholly or partly after the expiration of this authority.
Special resolution:
5. To amend the Company's Articles of Incorporation to provide that the Company be placed into voluntary liquidation within six months after the end of the 2018 AGM (to be held in no earlier than 1 November 2018), unless the Members pass a special resolution at the 2018 AGM (or at an earlier requisitioned general meeting) for the continuation of the Company.
A copy of this notice and the accompanying circular to shareholders is available on the Company's website: www.eloro.com.
For further information, please contact:
El Oro Ltd www.eloro.com 020 7581 2782
Robin Woodbine Parish, Chairman
Una Ni Dhonaill
Aztec Financial Services (Guernsey) Limited 01481 748831
Chris Copperwaite
Registered address: East Wing, Trafalgar Court, Les Banques, St Peter Port, GY1 3PP
End of announcement