Attached is a letter to Shareholders from the Chairman Mr
The Chairman's letter, Amended Notice of Meeting and Amended Proxy Form will be forwarded to Shareholders on Thursday
The documents may be viewed on the Company's website at www.intrepidmines.com.
19 May 2014Dear fellow shareholder
The vote by shareholders at the Extraordinary General Meeting (EGM) on
As a result of the EGM vote, a number of technical amendments were required to the Notice of Meeting for the Annual General Meeting. In addition following a meeting of the newly constituted Board, it was agreed to change several of the recommendations included in the Notice of Meeting. The changes to the Notice and the new recommendations were set out in an announcement to the market on
To ensure that Shareholders are fully informed prior to the meeting, your Board decided that rather than provide you with a lengthy amending document, the whole Notice of Meeting and Proxy Form would be amended and reissued to reflect the changes outlined in the 14 May announcement. I take this opportunity to summarise the changes to the Notice of Meeting and the recommendations.
Return of Capital Resolution
The clear indication from the vote at the EGM was that the majority of Shareholders want to see the Company returning cash to them as quickly as possible. Without question the quickest way to achieve this end is to proceed with the return of capital resolution included in the Notice of Meeting. In this way Shareholders will receive the Australian dollar equivalent of
Intentions of the Board if the Return of
For the Return of Capital Resolution to pass, 75% of the votes cast at the meeting must support it. In the event that the Return of
Changes to Annual General Meeting Resolutions
A number of the resolutions to be put to the Annual General Meeting of the Company on
Resolutions 9 to 11 are amended as follows:
Resolution 9: Re-election of Mr
Gregory Mazuras a Director "That Mr Gregory Mazurwho retires in accordance with Regulation 53.1AA and Regulation 54 of the Company's Constitution and being eligible offers himself for re-election is re-elected as a Director." Resolution 10: Re-election of Mr Lim Yu Neng Paulas a Director "That Mr Lim Yu Neng Paulwho retires in accordance with Regulation 53.1AA and Regulation 54 of the Company's Constitution and being eligible offers himself for re-election is re-elected as a Director." Resolution 11: Re-election of Mr Clifford Sandersonas a Director "That Mr Clifford Sandersonwho retires in accordance with Regulation 53.1AA and Regulation 54 of the Company's Constitution and being eligible offers himself for re-election is re-elected as a Director."
The following resolutions have been withdrawn and will not be considered at the meeting
Resolution 4: Re-election of Mr
Colin Jacksonas a Director Resolution 6: Re-election of Mr Laurence Curtisas a Director Resolution 7: Re-election of Mr Robert MacDonaldas a Director
Summary of Directors' Recommendations
The Board's recommendations for each of the resolutions to be put to the Annual General Meeting on
All Directors recommend shareholders vote FOR the following resolutions:
-- Resolution 1 - Return of
Capitalto Shareholders -- Resolution 3 - Re-election of Mr Ian McMaster AMto the Board -- Resolution 5 - Re-election of Mr Alan Robertsto the Board -- Resolution 8 - Re-election of Mr Scott Loweto the Board -- Resolution 9 - Re-election of Mr Gregory Mazur-- Resolution 10 - Re-election of Mr Lim Yu Neng Paul-- Resolution 11 - Re-election of Mr Clifford Sanderson
All Directors recommend shareholders vote AGAINST the following resolution:
-- Resolution 12 - Spill Motion
A new Proxy Form reflecting the changes above is also provided in the attached package and Shareholders are encouraged to complete and lodge their proxies with the Share Registry Computershare by
If you have already submitted your Proxy Form you may change your vote by completing and submitting the enclosed Amended Proxy Form. If you have already submitted your Proxy Form and do not submit an Amended Proxy Form your original vote will remain valid.
In my earlier letter to you, I noted that at this Annual General Meeting, Shareholders will vote to determine the future direction of the Company. This remains as true today as before the EGM. I urge all Shareholders to take the opportunity to express your view by attending the AGM or by sending your proxy vote.
Ian McMaster AM, Chairman
FOR FURTHER INFORMATION PLEASE CONTACT: Inquiries regarding this report and Company business may be directed to:
Scott LoweChief Executive Officer, Brisbane, Australia+61 7 3007 8000 firstname.lastname@example.org Intrepid Mines Limited Greg Taylor Toronto, Canada+905 337 7673 or Mobile: +416 605 5120 email@example.com Source: Intrepid Mines Limited