Notice of General Meeting and Explanatory Statement
Brisbane, Feb 11, 2015 AEST (ABN Newswire) - Orocobre Limited (
ASX:ORE) (TSE:ORL) advise that notice is given that a General Meeting of Shareholders of Orocobre Limited (Company) will be held at Level 1, 349 Coronation Drive, Milton, Brisbane, Queensland, Australia 4064 on 16 March, 2015 commencing at 10:00 a.m. (Brisbane time).
The Explanatory Statement which accompanies and forms part of this Notice describes the matters to be considered.
Terms used in this Notice will, unless the context otherwise requires, have the same meaning given to them in the Glossary of Terms as contained in the Explanatory Statement.
ORDINARY BUSINESS:
1. Ratification of Share Placement
To consider and, if thought fit pass the following as an ordinary resolution:
That, for the purpose of Listing Rule 7.4, and for all other purposes, Shareholders ratify and approve the issue by the Company of 15,218,742 shares at an issue price of $2.55 per share to sophisticated and professional investors pursuant to a share placement as described in the Explanatory Statement.
Voting Exclusion
The Company will disregard any votes cast on Resolution 1 by:
- a person who participated in the issue; and
- any associate of those persons.
However, the Company need not disregard a vote on Resolution 1 if:
- it is cast by a person as proxy for a person who is entitled to vote, in accordance with the directions on the proxy form; or
- it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with a direction on the proxy form to vote as the proxy decides.
2. Approval of issue of shares to Mr James Calaway
To consider and, if thought fit, pass the following as an ordinary resolution:
That for the purposes of Chapter 10.11 of the ASX Listing Rules and for all other purpose shareholders approve the issue of 267,563 shares to Mr James Calaway.
Voting Exclusion
The Company will disregard any votes cast on Resolution 2 by:
- Mr Calaway; and
- any associate of Mr Calaway.
However, the Company need not disregard a vote on Resolution 2 if:
- it is cast by a person as proxy for a person who is entitled to vote, in accordance with the directions on the proxy form; or
- it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with a direction on the proxy form to vote as the proxy decides.
3. Approval of issue of shares to Mr Richard Seville
To consider and, if thought fit, pass the following as an ordinary resolution:
That for the purposes of Chapter 10.11 of the ASX Listing Rules and for all other purpose shareholders approve the issue of 100,000 Shares to Mr Richard Seville.
Voting Exclusion
The Company will disregard any votes cast on Resolution 3 by:
- Mr Seville; and
- any associate of Mr Seville.
However, the Company need not disregard a vote on Resolution 3 if:
- it is cast by a person as proxy for a person who is entitled to vote, in accordance with the directions on the proxy form; or
- it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with a direction on the proxy form to vote as the proxy decides.
4. Proposed Share Placement pursuant to underwriting of Share Purchase Plan
To consider and, if thought fit, pass the following as an ordinary resolution:
That for the purposes of ASX Listing Rule 7.1 and all other purposes, Shareholders approve the placement of up to 3,921,600 Shares to sophisticated and exempt investors as described in the Explanatory Statement.
Voting Exclusion
The Company will disregard any votes cast on Resolution 4 by:
- a person who may participate in the proposed issue and a person who might obtain a benefit, except a benefit solely in the capacity of a holder of ordinary shares, if the respective resolution is passed; and
- any associate of those persons.
However, the Company need not disregard a vote on Resolution 4 if:
- it is cast by a person as proxy for a person who is entitled to vote, in accordance with the directions on the proxy form; or
- it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with a direction on the proxy form to vote as the proxy decides.
By Order of the Board
Neil Kaplan
Company Secretary
11 February 2015
To view the explanatory statement, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ORE-842027.pdf
About Orocobre Limited
Orocobre Limited is listed on the Australian Securities Exchange and Toronto Stock Exchange (
ASX:ORE) (TSE:ORL) (OTCMKTS:OROCF), and is building a substantial Argentine based industrial chemicals company through its portfolio of lithium, potash and boron assets. In partnership with Toyota Tsusho Corporation (TTC) and JEMSE, Orocobre has built and is now operating the world's first commercial, brine-based lithium operation constructed in approximately 20 years.
In 2018 Orocobre announced the Stage 2 Expansion of its flagship Olaroz Lithium Facility in Argentina. The Stage 2 Expansion will add 25,000 tpa of lithium carbonate production capacity, taking full production and capacity to 42,500 tpa of lithium carbonate for sale to industrial, technical and battery markets, positioning Orocobre as one of the world's largest and lowest cost lithium chemicals producers.
Additionally, Orocobre and Toyota Tsusho Corporation have commenced construction of the 10,000 tpa lithium hydroxide plant in Naraha, Japan. The construction of the Naraha Lithium Hydroxide Plant will further cement Orocobre's position as a global lithium chemicals producer operating at the bottom quartile of the lithium cost curve. This new hydroxide plant will be the first of its kind in Japan and will provide Orocobre product diversification suitable for different battery technologies and the potential for significant margin growth on our primary lithium carbonate being converted to battery grade lithium hydroxide.
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