Luiri Gold Limited
TSX VENTURE : LGL
ASX : LGM

Luiri Gold Limited

October 25, 2010 07:43 ET

Luiri Gold-Cancellation of Special General Meeting

TORONTO, CANADA--(Marketwire - Oct. 25, 2010) - Luiri Gold Limited (TSX VENTURE:LGL)(ASX:LGM) is pleased to announce that Lachlan Star Limited (Lachlan Star) has withdrawn its request for a Special General Meeting that was to be held on October 26 at 2pm in Vancouver.

The meeting was called by Lachlan Star to seek to remove three directors, namely Mike Sperinck, Peter Tanham and Gordon Richards, and to pass an ordinary resolution reducing the number of directors to three.

As it was a Special General Meeting the resolutions required a two third majority to be passed (66%). 

The results provided below show that the resolutions were soundly defeated and thereby provide a clear endorsement of the three directors and current management. Voting results of the proxies at the close of acceptance on Friday October 22 are as follows: 

  For* Against
Removal of Mike Sperinck: 38.3m (49%) 39.8m (51%)
Removal of Peter Tanham: 37.9m (49%) 40.1m (51%)
Removal of Gordon Richards: 37.9m (49%) 40.1m (51%)
Reduce the number of directors to three: 38.1m (49%) 39.8m (51%)
* Note that Lachlan Star holds 31.9 million shares in Luiri Gold.

Luiri Gold will provide a market update on its Zambian tenure issue as soon as possible.

ON BEHALF OF THE BOARD OF DIRECTORS OF LUIRI GOLD LIMITED

Michael Sperinck, President, Managing Director and CEO

This press release contains forward-looking information which involves risks and uncertainties. Forward looking information represents management's current views and these may change significantly as new information comes to hand.

NEITHER THE TSX VENTURE EXCHANGE NOR THE ASX HAS REVIEWED THIS RELEASE AND NEITHER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Luiri Gold Limited
    Michael Sperinck
    President
    +61 401 694 322
    www.luirigold.com
    or
    Luiri Gold's North American Investor Relations
    First Canadian Capital Corp.
    Daniel Boase
    +1 416 742 5600 or Toll Free: 1 866 580 8891
    request@firstcanadiancapital.com