Polartechnics EGM nixes Opara resolutions
Monday, 15 August, 2005
An extraordinary general meeting of Polartechnics (ASX:PLT) shareholders, requisitioned by the company's former interim chairman Richard Opara, has voted against each of the resolutions he put forward.
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.
All four of Opara's resolutions were rejected in a show of hands and proxies, 34 million votes to 13 million votes.
Polartechnics received a letter from Opara on August 8 proposing to postpone the EGM but the company received legal advice to the effect that the EGM could not be postponed.
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