Ann: Extension of Time to Hold AGM, page-3

Avanco Resources Limited advises that the Australian Securities and Investments
Commission (ASIC) has granted an extension of time for the Company to hold its
Annual General Meeting (AGM).
Under Section 250P of the Corporations Act 2001 ASIC has extended the period within
which the Company must hold its AGM from 31 May 2015 to 30 June 2015.
Avanco made an application to extend the period within which to holds it AGM given
the Company is currently negotiating a number of proposals including those from
related parties of the Company. It is required that, if the Company prefers to follow a
related party proposal, the agreement requiresshareholder approval under ASX Listing
Rule 10.1. Further, the resolution, which will require shareholder approval under ASX
Listing Rule 10.1, will also require an independent expert’s report on any proposed
transaction.
In the event the Company elects to enter into an agreement with a related party there
is a risk that the Company will not be able to complete and bring together the required
information under ASX Listing Rule 10.1 to include a resolution (and explanatory
disclosure) to approve the transaction by 31 May 2015. This would result in the
Company having to hold a subsequent shareholder meeting soon after the AGM at a
considerable additional expense to shareholders and the Company.