28 Jul 2010 07:00
28 July 2010
Great Eastern Energy Corporation Limited
("Great Eastern" or the "Company")
Annual General Meeting
Great Eastern Energy Corporation Limited, a company involved in the exploration, development and production of Coal Bed Methane in India is pleased to announce that it is seeking shareholders' approval on 20 August 2010, for the following:
1. Approval of annual accounts for the year ended March 31, 2010 prepared in accordance with Indian Generally Accepted Accounting Principles ("IGAAP").
2. Reappointment of Mr. Paul Sebastian Zuckerman and Mr. Yogendra Kr. Modi as Directors of the Company, who retire by rotation and offers themselves for reappointment as Directors.
3. Appointment of Statutory Auditors.
4. Appointment of Mr. Ashok Jha as Director of the Company. Mr. Jha was appointed as an additional Director of the Company w.e.f. March 10, 2010 and as per the provisions of Indian Companies Act, 1956, he can hold the office upto the ensuing annual general meeting. Mr. Jha has given his consent to be appointed as Director of the Company.
5. To approve the remuneration of Mr. Prashant Modi, President & Chief Operating Officer, w.e.f. August 1, 2010 for a further period of 5 years.
6. To approve the remuneration of Mr. Paul Sebastian Zuckerman, Non-Executive Director, for a further period of 5 years w.e.f. November 7, 2010.
The Company has issued a notice on evening of 27 July 2010 to shareholders convening an Annual General Meeting ("AGM") to be held on 20 August 2010 at its Registered Office M-10, ADDA Industrial Estate, Asansol - 713 305, West Bengal, India to seek shareholders' approval for above mentioned six proposals.
Copy of the notice sent to shareholders for convening the AGM is available on the Company's website. The said notice has also been forwarded to the depository, Deutsche Bank Trust Company Americas on behalf of GDR holders. Holders of GDRs in the Company who have not received a copy of the notice may obtain a copy from the Company's Financial Advisor and Broker, Arden Partners.
For Further Information:
Great Eastern Energy
YK Modi Chairman & CEO +44 (0)20 7337 1516
Prashant Modi President & COO
Arden Partners
Richard Day +44 (0)20 7614 5900
Adrian Trimmings
RBC Capital Markets
Martin Eales +44 (0)20 7653 4000
Brett Jacobs
Pelham Bell Pottinger
Philip Dennis +44 (0)20 7861 3919
Elena Dobson +44 (0)20 7861 3147