Surges, the announcement -
"POSTPONEMENT OF ANNUAL GENERAL MEETING
Monday, 12 November 2012: Environmental Clean Technologies (ASX:ESI) (ECT or the
Company) is engaged in confidential and as yet incomplete negotiations with a number of parties
regarding funding of, and participation in ECT’s Coldry Commercial Demonstration Plant (CDP)
project. Whilst the Company will make an announcement to the ASX as soon as these negotiations
come to a firm conclusion, these matters may not be finalised prior to the currently proposed date
of the ECT 2012 Annual General Meeting (AGM) of Friday, 16 November 2012.
The Board considers it important that shareholders have the opportunity to receive and review the
announcement on these potentially significant developments prior the Company’s AGM and have
postponed the date of the meeting accordingly.
In accordance with article 11.2 of its Constitution, ECT will postpone its Annual General Meeting
(“AGM”) from 11:00am on16 November 2012 to 11:00 am on Thursday, 29 November 2012.
The business of the AGM will be as set out in the Notice of Meeting and Proxy Form already sent
to shareholders and the venue remains the same. Proxies already cast in relation to the AGM
remain valid unless withdrawn prior to that meeting." ends...
I can see why other holders would be excited by the prospect of what could be potentially company making news and I hope they are right. Just be a little cautious because it could still go either way. There is nothing new in the announcement that we haven't heard before and nothing to confirm whether the news will be positive or negative.
All it says IMO is that the Co is still in negotiations for funding, just as it has been since Monash was first announced as a CSI. It doesn't appear as though anything has changed except that funding has been further delayed, so we just have to wait and hope IMO. "Potentially significant developments" can go either way, as can "negotiations come to a firm conclusion".
I am tipping good news but not as confident as some here. It is certainly last minute and the directors will have earned their pay rises if they have pulled a rabbit at the last minute!
good luck holders
B Rubes
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agm postponed till 29th of nov , page-90
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