Minera IRL Sets New Date for Postponed Holder Meeting

By Alex MacDonald

LONDON--South American precious metals miner Minera IRL Ltd.(MIRL.LN) Monday reset the date for its delayed extraordinary shareholders' meeting to Dec 16 in Toronto.

The meeting, which was requestioned by certain shareholders seeking to revamp the company's board, was to be held on Nov 26 but was adjourned after the company became aware of irregularities in the way the shareholder vote was being conducted, Minera said.

The Canada-based company has been mired in a tussle with Diego 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 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 without success.

Mr. Benavides, along with a group of other Minera investors, have instead called for an extraordinary meeting at the parent company to revamp the latter's board and install Mr. Benavides as a board member.

-Write to Alex MacDonald at [e-mail]

(END) Dow Jones Newswires

December 07, 2015 05:03 ET (10:03 GMT)

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