Lynden Energy (V.LVL) loses 6% on altering corporate articles

Gaalen Engen Gaalen Engen,
0 Comments| March 14, 2014

Lynden Energy (TSX-V:LVL, StockForum), a Vancouver-based oil and natural gas firm engaged in the acquisition, exploration, and development of high value resources, announced today that the company had altered its articles to include advance notice provisions regarding the nomination of individuals for election as board members.


According to the new release, “These provisions are designed to: (i) facilitate orderly and efficient shareholder meetings at which directors are to be elected; (ii) ensure that all shareholders, including those participating in a shareholders' meeting by proxy rather than in person, receive adequate notice of all director nominations and sufficient information with respect to all nominees; and (iii) allow shareholders to register an informed vote.”


The alteration was approved by shareholders at the company's AGM and accepted for filing by the TSX Venture Exchange March 6, 2014.


Lynden Energy was in the news recently when the company reported six month financial results two weeks ago.


Shares were down 6.98% on the news to $0.80 per share.


Currently there are 129.3m outstanding shares with a market cap of $103.4 million.


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