20 Nov 2015 07:00
El Oro Ltd
20 November 2015
El Oro Ltd. ("the Company") Registration No: 49778
At the Extraordinary General Meeting of the Company, held on 19 November 2015, all resolutions were approved and agreed:
Special resolutions:
1. THAT, the Company be authorised to sell to a purpose trust (the "Purpose Trust") ordinary shares of no par value each in the capital of the Company ("Ordinary Shares") held by Members to which the provisions of Article 35.1 apply, and for the purposes of section 314 of The Companies (Guernsey) Law, 2008 (as amended), the terms of an agreement between the Company and the Purpose Trust for the purchase by the Company of up to 590,190 Ordinary Shares as set out in the draft contract annexed to this resolution (the "Acquisition Agreement") be and are hereby authorised and that the Company be authorised to enter into the Acquisition Agreement and purchase the Ordinary Shares on or after 1 March 2016. The authority conferred by this resolution shall expire on 30 September 2016.
2. THAT, Article 35.1.1 of the Company's Articles be amended to read "for a period of twelve years no cheque or warrant sent by the Company through the post in a pre-paid letter addressed to the Member or to the person so entitled to the share at his address in the Register or otherwise the last known address given by the Member or the person entitled by transmission to which cheques and warrants are to be sent has been cashed and no communication has been received by the Company from the Member or the person so entitled, provided that in such period of 12 years, the Company has paid out at least three dividends whether interim or final (and for the purposes of this Article 35.1.1, references to the "Company" shall include references to "El Oro and Exploration Company Limited" (a company incorporated in the United Kingdom with company number 80408), and shall include references to such company whilst it was a public limited company, and references to "Member" shall include references to registered holders of shares issued by such company); or".
For further information, please contact:
C Robin Woodbine Parish: Chairman
El Oro Ltd www.eloro.com 020 7581 2782
Robin Woodbine Parish, Chairman
Steven McKeane
Company Secretary
Dexion Capital (Guernsey) Limited 01481 732815
Christopher Copperwaite
Registered address: 1 Le Truchot, St Peter Port, Guernsey GY1 1WD
End of announcement