Kalimantan Gold Board Changes and Advance Notice Policy Adopted
15 April 2013 - 4:00PM
Business Wire
Kalimantan Gold Corporation Limited (the "Company" or “KLG”) is
pleased to announce the appointment of Mrs Pudji Wahjuni Purbo as
an independent non-executive director of the Company. In addition
Mrs Purbo has been appointed to the audit committee of KLG.
“The Company is extremely fortunate to have attracted a new
director of such a high calibre. Mrs Purbo’s specialist legal
expertise and resource experience in Indonesia is a great asset to
the Company in the rapidly evolving Indonesian legal and regulatory
framework we face today,“ commented Mr Faldi Ismail, CEO, KLG.
Mrs Purbo was an associate at Makarim and Taira S. one of the
premier law firms in Indonesia where she was a partner from 2002
until 2012. Amongst her clients she represented major multinational
mining companies in Indonesia. Mrs Purbo was educated at Fordham
School of Law, Fordham University, New York, USA, 1999; and
Universitas Indonesia, Jakarta, Indonesia, 1984. She is a member of
PERADI (the Indonesian Association of Indonesian Lawyers).
As a specialist in natural resource law in Indonesia,
particularly energy, mining and oil & gas, Mrs Purbo also has
experience in project finance, merger, acquisitions, corporate and
commercial law. She is a member of Masyarakat Ketenagalistrikan
Indonesia (MKI, Indonesian Electrical Power Society) where she was
Chairperson of Legal & Regulatory Advocacy. She is now a member
of the Advisory Council and Board of Experts of MKI. She also
co-founded Forum Hukum Energi in 2005 a forum for discussions
between legal professionals and the government.
Mrs Purbo is now on a leave of absence from Makarim & Taira
S. to accompany her husband to his post as the Indonesian
Ambassador to Slovakia.
Francis Xavier De Souza leaves the Board having resigned as an
independent non-executive director to KLG. The Company sincerely
thanks Mr De Souza for his valued contributions whilst with KLG and
wishes him well with his future endeavours.
The Company is committed to: (a) facilitating an orderly and
efficient process for any annual general meeting of its members or,
where the need arises, any special general meeting of its members;
(b) ensuring that all of the Company’s shareholders receive
adequate notice of the director nominations and sufficient
information with respect to all nominees; and (c) allowing
shareholders to register an informed vote.
The Board has adopted an advance notice policy (the “Policy”)
that requires advance notice to KLG for nominations of directors
other than by management.
The purpose of the Policy is to provide shareholders, directors
and management of the Company with direction on the nomination of
directors. The Policy is the framework by which the Company seeks
to fix a deadline by which holders of record of common shares of
the Company must submit director nominations to the Company prior
to any annual general meeting or special general meeting, called
for the purpose of electing directors and whether or not called for
other purposes, and sets forth the information that a shareholder
must include in the notice to the Company for the notice to be in
proper written form.
Among other things, the Policy fixes a deadline by which holders
of record of common shares of the Company must submit director
nominations to the Company prior to any annual general or special
general meeting of shareholders and sets forth the information that
a shareholder must include in the notice to the Company for the
notice to be in proper written form.
In the case of an annual general meeting of shareholders, notice
to the Company must be made not less than 30 nor more than 65 days
prior to the date of the annual general meeting, provided that in
the event that the annual general meeting is to be held on a date
that is less than 50 days after the date on which the first public
announcement of the date of the annual general meeting was made,
notice may be made not later than the close of business on the
tenth day following such public announcement.
In the case of a special general meeting of shareholders (which
is not also an annual meeting), notice to the Company must be made
not later than the close of business on the 15th day following the
day on which the first public announcement of the date of the
special meeting was made.
The new Policy is intended to: (i) facilitate an orderly and
efficient annual general or special general meeting process; (ii)
ensure that all shareholders receive adequate notice of the
director nominations and sufficient information regarding all
director nominees; and (iii) allow shareholders to register an
informed vote after having been afforded reasonable time for
appropriate deliberation.
The policy is effective immediately and will be placed before
the Company’s shareholders for approval at the Company’s next
annual general meeting of shareholders expected to be held in June
2013.
-Ends-
For further information please contact:
Faldi IsmailDeputy Chairman and CEO, Kalimantan
GoldMobile: +61 (0) 423 206 324Email:
faldi.ismail@kalimantan.com
Gerald CheyneCorporate Development (UK)Telephone: +44 (0)
2077311806Mobile: +44 (0) 7717473168Email:
gerald.cheyne@kalimantan.com
VSA Capital LimitedNick Redfern/ Peter DamouniTelephone:
+44 20 3005 5005/ +44 20 3005
5007Email: pdamouni@vsacapital.com
KLG's Nominated AdviserRFC Ambrian LimitedStuart
LaingTelephone: +61 8 9480 2506Email:
stuart.laing@rfcambrian.com
About Kalimantan Gold
Kalimantan Gold Corporation Limited is a junior exploration
company listed on both the TSX Venture Exchange in Canada and on
AIM in London. The Company has two exploration projects in
Kalimantan, Indonesia: the Jelai epithermal gold project in East
Kalimantan and the KSK Contract of Work in Central Kalimantan with
potential for multiple porphyry copper and gold prospects. For
further information please visit www.kalimantan.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
(TSXV:KLG)
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