PERTH, Australia, May 30, 2014 /CNW/ - Mirabela Nickel Limited (Subject to Deed of Company Arrangement) (Mirabela or the Company) (ASX: MBN) wishes to advise that on 29 May 2014, the Australian Securities and Investments Commission (ASIC) granted an extension of time to the Company to hold its annual general meeting for the 2013 financial year (AGM) from 30 May 2014 to 26 August 2014.
The Company applied to ASIC under section 250P of the Corporations Act 2001 (Commonwealth) to extend the period within which it is required to hold its AGM, for the following reasons:
- The annual report of the Company for the financial year ended 31 December 2013 was filed on 26 May 2014 resulting in insufficient time to convene the AGM on or before 30 May 2014.
- The Company remains subject to a deed of company arrangement (DOCA). If the DOCA is effectuated in its current form, the composition of the Company's shareholder register will be materially altered. If the DOCA is not effectuated, it is likely that the Company will be liquidated.
- Diverting resources to convening and preparing for an AGM at this time would impact on the Deed Administrators ability to comply with the terms of the DOCA.
SOURCE: Mirabela Nickel Limited (Administrators Appointed)
For further information: www.mirabela.com.au, Email: email@example.com