Emu NL (ASX:EMU) said the Australian government's takeovers panel has made final orders requiring the company to hold a new general meeting to re-vote on resolutions from its previous shareholder meeting in May according to a Friday filing with the Australian bourse.
The Panel directed that all resolutions from the previous meeting, except the resolution to remove a director, be reconsidered.
The company must also include any additional director removal resolutions validly submitted under the Corporations Act before the new meeting is called.
The Panel also ordered Emu to permit electronic voting, issue personalised proxy forms without voting guidance, and appoint an independent scrutineer from a Panel-approved list.
The notice of meeting and proxy form must be submitted to the Panel by July 18 and issued to shareholders by July 25, while the new meeting must take place within 30 days of the notice.
Shares issued since the May meeting, including any new shares, will be ineligible to vote, and the company is not allowed to postpone or cancel the meeting without Panel consent.
Shares of the company rose 12% on market close.
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