Polartechnics EGM to proceed despite Opara's request to postpone
Thursday, 11 August, 2005
A Polartechnics (ASX:PLT) extraordinary general meeting (EGM) requisitioned by the company's former interim chairman Richard Opara will be held in Sydney this Friday, despite the company receiving a letter from him on August 8 proposing to postpone the meeting.
In June, Opara served a requisition on Polartechnics to convene an EGM, proposing that Polartechnics CEO Victor Skladnev and Robert Hunter be removed as directors and Opara and Leonard Firestone be appointed instead.
Polartechnics has received legal advice to the effect that the EGM cannot be postponed on Opara's proposal and that the statement in Opara's letter that said "Dr Len Firestone and I withdraw our board nominations" is not an effective withdrawal of the requisitioned resolutions.
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