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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Minera | LSE:MIRL | London | Ordinary Share | JE00B1HNYF12 | ORD NPV |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
By Alex MacDonald
LONDON--South American precious metals miner Minera IRL Ltd.(MIRL.LN) said Friday that a shareholder meeting aimed at ousting the renegade president of its Peruvian unit Minera IRL S.A. has been postponed after certain shareholders complained that the meeting didn't comply with Peruvian corporate law.
The meeting, which also aimed to revoke the duties of the unit's board directors, was supposed to take place on December 3 but has now been postponed to an unspecified date.
Minera IRL S.A. said Thursday that the meeting "cannot be held, due to a request by shareholders, to fully comply with legal procedures in accordance with the General Corporate Laws of Peru."
Specifically Diego Benavides, president of Minera IRL S.A., failed to publish the announcement of the subsidiary extraordinary meeting in the El Peruano newspaper at least 15 days before the date of the meeting, and also failed to nominate a time, according to the parent company.
The unit said Thursday it's awaiting a new date for the parent's postponed shareholder meeting, which was requested by Mr. Benavides and a group of shareholders to revamp the parent company's board. That meeting was supposed to take place on November 26 but was also postponed due to irregularities.
The Canada-based company has been mired in a tussle with Benavides, its former interim chief executive, for control of its two Peruvian operating subsidiaries. The tussle prevented Minera from publishing its interim results earlier this year and ultimately led to a suspension of its London shares in September.
Minera, which is 19% owned by Anglo-Australian mining giant Rio Tinto PLC (RIO), has put in motion legal processes to oust Mr. Benavides from his position as manager of the two subsidiaries, but without success.
-Write to Alex MacDonald at alex.macdonald@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
December 04, 2015 03:46 ET (08:46 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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