As a shareholder of Birimian you will received a notice of meeting document for the forthcoming EGM to be held on 22nd March 2017 relating to the removal of two directors being Hugh Bresser and I .
The EGM Has been requisitioned by a group of minority shareholders who at the time of the requisition held approximately 6.5% of the companysvoting shares .
Those minority shareholders have since been very active contacting shareholders and soliciting votes . I have been contacted by a number of shareholders with concerns around misleading and inaccurate claims being made by those minority shareholders and their representatives and the extreme risks their proposed actions carry for your company .
Accordingly , i am writing to you to distil the issues .
I , and the other board members , recommend that you support the current board and vote AGAINST all the proposed resolutions , for the following reasons .
PERFORMANCE . over the past 12 months , the current board has transformed your company by acquiring and advancing the world class Bougouni lithium asset leading to share price growth in excess of 400 % and substantially outperforming its ASX Listed lithium peers .
CLEAR PLAN . The current board has a clear plan that is executing to commercialise your companys assets and further increase shareholder value .
Excellent progress is being made that could bring the Bougouni lithium project into production within the next 18 months ( exceptionally rapid for the sector ) and a deal has been entered with a gold major that could deliver ongoing cashflow streams for our gold assets in the very near term .
TRUSTED IN COUNTRY . the single biggest risk to your company's ongoing success is mismanaging the relationships already established with our host country , Mali
These relationships have been cultivated over several years , and can only be maintained by continuity of management and board , with an orederly transition to the future leadership of your company at the right time .
In essence , i urge you to act now to avoid the extreme risks inherent in the changes proposed by keeping the same team that has delivered strong shareholder returns and that has long and strongly established networks within our host nation .
We seek the privilege to complete the task of commercialising the assets of your company and enhancing shareholder value in the process . As such , i , and the other board members , recommend that you vote AGAINST all the proposed resolutions .
If you have already voted you are entitled to submit a replacement vote which will supersede your original vote .
I have attached a pre completed proxy form . Simply sign and either fax , return the form by post , or login with your control number by 11 am Perth time on 20 March 2017 .
Yours faithfully
WW
CHAIRMAN
Birimian ltd
Sent on 10 March . RTS PO BOX 1066 ,Gwelup , WA 6018. sent to 2034
