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Firefinch Shareholders Calls for Director Changes — ASX:FFX| ASX Mining News & Discussion
L
Lykeshares
2y
Official
$FFX
Firefinch Shareholders Calls for Director Changes
Firefinch Limited (ASX:FFX) has recently received a Notice under Section 249D of the Corporations Act and has provided an update to its shareholders regarding the matter. The Notice, which was received on July 18, 2023, was issued by a group of shareholders collectively known as the "Convening Shareholders." The Convening Shareholders, who hold approximately 6% of the Company's fully paid ordinary shares, have requested a general meeting to consider certain resolutions.
The Proposed Resolutions put forward by the Convening Shareholders are twofold:
The removal of Mr Brett Fraser, Mr Mark Hepburn, and Mr Bradley Gordon as directors of the Company with immediate effect.
The appointment of Mr Garry Peter Lougher and Mr Gareth John Edwards as directors of the Company with immediate effect.
In response to the Notice, Firefinch Limited will adhere to the requirements outlined in the Corporations Act and take the necessary steps to convene a general meeting. The Company will provide
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further details regarding the meeting, along with the Board's recommendations, in due course. The Board has expressed its unanimous view that the Proposed Resolutions are not in the best interests of the Company or its shareholders.
Furthermore, the Board intends to recommend that shareholders vote AGAINST the Proposed Resolutions and plans to vote their own shares accordingly. It should be noted that each of the directors mentioned in the Proposed Resolutions - Mr Brett Fraser, Mr Mark Hepburn, and Mr Bradley Gordon - are independent directors of Firefinch Limited and have demonstrated strong leadership since their appointment.
The Board emphasises that the aforementioned directors possess the necessary knowledge, skills, and experience to ensure the successful execution of the Company's strategy, particularly in delivering superior value and liquidity to Firefinch shareholders through the ongoing Process. The Board is concerned that implementing the Proposed Resolutions at this crucial stage in the Company's future may have a significant destabilising impact.
Firefinch Limited has also reminded the Convening Shareholders of their obligation to provide disclosure under Section 671B of the Corporations Act should they begin to hold a substantial stake in the Company.
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L
Lykeshares
133d
Official
Berkshire is hoarding so. much. cash.
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L
Lykeshares
133d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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Lykeshares
164d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
320 Views
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L
Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
306 Views
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L
Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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L
Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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