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ASX Announcement ASX Code: MAR 25 May 2016
SHAREHOLDER APPROVAL - CONVERTIBLE NOTES
On 15 March 2016 Malachite Resources Limited (ASX Code: MAR) ("Malachite" or the "Company") advised that it had reached agreement with all of its Convertible Noteholders to extend the term of the existing Notes to 1 July 2017.
Noteholders also agreed to the capitalisation and deferment of interest subject to the proviso that the Company may, at its discretion, elect to pay interest rather than capitalise the interest if adequate working capital is available for this purpose.
The ASX has subsequently advised that the Company should obtain shareholder approval under Listing Rule 10.11 for these variations to the terms of the existing Convertible Notes issued to Directors and under Listing Rule 7.1 for the existing Convertible Notes issued to unrelated parties.
The Company will be proceeding with a shareholder meeting to satisfy this requirement. A Notice of Meeting and Explanatory Memorandum will be despatched to all shareholders.
For further information, please contact Malachite Resources Limited on (02) 9251 0032 or by email at [email protected] or visit the company's website at www.malachite.com.au
Malachite Resources Limited ABN 86 075 613 268
Suite 2, Level 10, 8-10 Loftus Street, Sydney NSW 2000 P O Box R1295, Royal Exchange NSW 1225
Tel: (02) 9251 0032 Fax: (02) 9475 0439
www.malachite.com.au