The commencement of proceedings follows Fat Tail and its associates’ failed attempt to appoint certain nominees to the board of directors of the Company at the Company’s 2023 annual general meeting (AGM) and seemingly relate to previous allegations made by Fat Tail and its associates in the lead up to the AGM regarding the northern area of the Company’s Manono Project
filed an originating process on Friday 15 December 2023 commencing proceedings in the Supreme Court of Western Australia against the Company and two of its directors, Mr Nigel Ferguson and Mr John Clarke. The proceedings brought by Fat Tail allege the Company has engaged in oppressive conduct against shareholders and that Mr Ferguson and Mr Clarke have engaged in misleading or deceptive conduct.
Fat Tail seeks orders that Mr Ferguson and Mr Clarke be removed as directors of the Company and not be eligible for re-election for 24 months or such other period ordered.
AVZ Price at posting:
78.0¢ Sentiment: Hold Disclosure: Held