Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (42574)	9/4/2009 3:49:15 PM
From: LoneClone	Read Replies (1) \| Respond to of 193482

UPDATE 1-Chariot shareholders reelect incumbent board Fri Sep 4, 2009 11:17am EDT reuters.com * Shareholders reject dissident slate * Shareholders reject motion to adjourn meeting TORONTO, Sept 4 (Reuters) - Shareholders of Chariot Resources Ltd (CHD.TO) on Friday, reelected the incumbent board of directors, rejecting a slate nominated by Lundin Mining (LUN.TO) Chairman Lukas Lundin. The shareholders also shot down a motion proposed by the dissident slate to adjourn the shareholder meeting. Chariot had accused the Lundin nominees of attempting to seize control of Chariot without paying a control premium. Speculation that Lundin Mining could try to acquire Chariot or its Mina Justa copper project in Peru has intensified since the proxy fight -- led by Lukas Lundin and Lundin Mining Director Brian Edgar -- was revealed last month. Lundin Mining owns more than 18 percent of Chariot Resources. Lundin Mining has stated that it does not plan to acquire Chariot Resources, or its key project in Peru. The company said it was not directly involved in the proxy fight led by its chairman to remove Chariot's board. However, Lundin Chief Executive Phil Wright had said the company would support the alternative slate of directors. At the beginning of the shareholder meeting, the dissident slate moved to adjourn the meeting, alleging that they had not been given the opportunity to review all the proxies. "We move to adjourn the meeting until such time that we had had a chance to review all the proxies provided," said a representative of the dissident slate. However, shareholders controlling 106 million shares voted to reject the motion to adjourn, overruling the 95 million shares votes in favor of the adjournment. The dissident slate protested the results of the shareholder vote and have requested for the opportunity to examine all the proxies provided. Chariot Chief Executive Ulli Rath said the dissident slate will have the opportunity to review all the proxies submitted. (Reporting by Euan Rocha; Editing by Frank McGurty)