TORONTO, ON and MARSEILLES, France, April 15, 2015 /CNW/ - Foraco International SA (TSX: FAR) (the "Company" or "Foraco") will be holding its ordinary general meeting of shareholders (the "Meeting") on May 5, 2015. In connection with the Meeting, the Company has mailed to shareholders, among other things, a Notice of Meeting, a form of Proxy and a Proxy Circular dated March 31, 2015 (collectively, the "Meeting Materials").
The Board of Directors of the Company will be proposing an amendment to the second resolution (as set out in the Meeting Materials) that is being presented to Shareholders at the Meeting.
The full text of the second resolution (as amended) which will be presented to Shareholders at the Meeting is as follows:
"The Annual General Meeting approves the consolidated financial statements for the fiscal year ended December 31, 2014 as presented by the Board of Directors and the Auditors, and established according to the International Financial Reporting Standards (IFRS) and in conformity with articles L. 225-100 and following articles of the French Commercial Code, which have resulted in a loss amounting to US$ 19,412,000."
The purpose of the amendment is to correct an error in the text of the second resolution as set out in the Meeting Materials which mistakenly referred to the gross profit (loss) of Foraco on a stand-alone basis (which was a profit of €3,593,813) rather than on a consolidated basis (which was a loss of US$19,412,000).
About Foraco International SA
Foraco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of Integrity, Innovation, and Involvement, Foraco has grown into the third largest global drilling enterprise, with a presence in 23 countries across five continents. For more information about Foraco, visit www.foraco.com.
"Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release."
SOURCE Foraco International SA
For further information: Brenda Patterson-Mack ([email protected]), Tel: (647) 351-5483