| | | Datum: | Mo, 4 Jun 2012 11:27 pm |
![]() TORONTO, June 4, 2012 /CNW/ - Oremex Silver Inc. ("Oremex" or the "Company") (TSX Venture: OAG) (OTCQX: ORAGF) (Frankfurt: OSI) announces that the Company's board of directors has set Friday, June 29, 2012 at 10:00 am EST as the rescheduled date and time for its annual and special meeting of shareholders (the "Meeting") to be held at the offices of Wildeboer Dellelce LLP located at Suite 800, 365 Bay Street, Toronto, Ontario. In addition, the Company announces that it has put forth an additional item of special business for consideration by shareholders at the Meeting. As a result of the historically high stated capital amount attributable to the common shares of the Company, the Company would, as at the date hereof, be precluded from effecting a dividend-in-kind payment to holders of its common shares in accordance with certain statutory restrictions. As such, at the Meeting, shareholders will be asked to vote on a special resolution authorizing the Company to reduce the stated capital of the common shares of the Company to $10 million, or such other amount as may be determined by the board of directors of the Company, for the reasons as further described in the amended notice of meeting and supplement to management proxy circular dated June 4, 2012 (the "Supplemental Circular"). In addition, the Board of Directors may determine not to proceed with the reduction in stated capital or the payment of the dividend-in-kind, even though the shareholders have approved the resolution to reduce the stated capital of the Company. The record date for the meeting continues to be May 1, 2012. The deadline for the deposit of proxies with respect to the rescheduled Meeting has been extended to 10:00 am EST on Wednesday, June 27, 2012. Any proxy deposited with respect to the original Meeting date will continue to be valid at the rescheduled Meeting, unless revoked by the shareholder. Shareholders are encouraged to read the Supplemental Circular, to be delivered to shareholders within the next few days, and to deposit a proxy with respect to the new special matter described
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