9 Oct 2012 18:06
9 October 2012
3Legs Resources Plc
("3Legs Resources" or the "Company")
Requisition of General Meeting
The board of directors of 3Legs Resources confirms that it has received a notice from Lynchwood Nominees Limited, being a member of the Company holding 10.27% of the Company's issued share capital (the ultimate beneficial interest in which shares the board understands resides with William Jeffcock), requisitioning a meeting of the Company's shareholders (the "Requisition") pursuant to section 67(2) of the Isle of Man Companies Act 2006. The Requisition proposes a number of ordinary resolutions (the "Resolutions") which include, inter alia, the removal of the majority of the board of directors (being all of the directors except for Robert Jeffcock, Barry Rourke and Clive Needham) and the appointment of certain new directors to the board being Brett Lance Miller and Rhys Cathan Davies (who the board understands are both representatives of Damille Investments Limited, a closed end investment fund and activist investor) and Richard John Hills of Guernsey.
On the basis that this Requisition is not withdrawn, the Company intends to post, in due course, a notice to all shareholders convening a general meeting. Shareholders should take no action at this point; rather they should await receipt of the notice from the company convening the general meeting and full details of the resolutions being proposed. A further announcement will be made in due course.
-Ends-
For further information contact:
Jefferies Hoare Govett | Tel: | +44 207 029 8000 |
Simon Hardy | ||
Jamie Buckland |