Global Lithium Resources Limited (ASX:GL1) Announces Director Resignations and AGM Updates
Director Resignations
Global Lithium Resources Limited (ASX:GL1) announced that Mr Ron Mitchell has resigned as Executive Chair, effective after the company’s annual general meeting on 13 February 2025. Additionally, Mr Matthew Allen has withdrawn his nomination for Director, with his appointment ceasing at the AGM. The company thanked Mr Mitchell and Mr Allen for their contributions and wished them well in their future endeavours.
Withdrawal of AGM Resolutions
Due to the resignations of Mr Mitchell and Mr Allen, Resolutions 2, 6, 7, and 8 have been withdrawn from consideration at the AGM. These resolutions included the election of Mr Allen as Director and the issuance of incentives and potential termination benefits to Mr Mitchell. The withdrawal does not affect the validity of proxy forms for the remaining business items.
Undirected Proxies
Dr Dianmin Chen, Non-Executive Director, will act as Chairman of the AGM in place of Mr Mitchell. Dr Chen will vote undirected proxies as follows: adoption of the Remuneration Report for resolution 1, appointment of Mr Liaoliang Zhu as Director for resolution 3, re-election of himself as Director for resolution 4, against the reduction of the maximum number of Directors to three for resolution 5, and election of Dr Xiaoxuan Sun as Director for resolution 9.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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