Last checked at 19 Oct 2017 15:00
Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining
Stratex International Plc
("Stratex" or the "Company")
ISS Recommends Shareholders Vote Against the Requisition
Stratex, the AIM-quoted gold and exploration company, wishes to report that Institutional Shareholder Services Inc. (ISS), the leading corporate governance and proxy advisory firm, has today published a proxy advisory report for the general meeting of the Company convened for the 1 November 2017.
The recommendation from ISS is that Stratex shareholders VOTE AGAINST all the resolutions to be put forward at the general meeting. These resolutions propose the replacement of both the current Stratex Chairman and Chief Executive Officer with David Hall and Paul Foord, and termination of the Crusader Resources merger.
Stratex CEO Marcus Engelbrecht, said:
"We are pleased that ISS has supported the Board decision in recommending that Stratex shareholders vote against all resolutions proposed by the requisition party. This level of endorsement demonstrates the lack of foundation behind the requisitioning shareholders' resolutions and the strength of the proposed Crusader Resources acquisition."
As previously announced by the Company on 4 October 2017, the Circular containing the notice convening the General Meeting and explaining the reasons for the Board's recommendation has been posted to Shareholders. A copy of the Circular is also available on the Company's website at http://www.stratexinternational.com/media-centre/.
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For further information please visit www.stratexinternational.com, @StratexPLC on Twitter, email info@stratexplc.com, or contact:
Stratex International Plc | Tel: +44 (0)20 7830 9650 |
Marcus Engelbrecht / Claire Bay
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Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
Samantha Harrison / Daniel Bush
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Hannam & Partners | Tel: +44 (0)20 7907 8500 |
Neil Passmore/ Andrew Chubb
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Camarco | Tel: +44 (0)20 3757 4980 |
Gordon Poole / Nick Hennis / Monique Perks | |
Notes to Editors:
Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company owns 15% of a copper-gold project at feasibility stage and an exciting exploration project in Senegal. The Company also has significant interests in Goldstone Resources Ltd, Thani Stratex Resources Ltd and Tembo Gold Corp. for their exploration projects in Ghana, Djibouti and Egypt, and Tanzania respectively.