Sunday, 30 September 2012

Dr. Jaydeep Biswas - Astra Resources EGM Passes All 17 Resolutions
Dr. Jaydeep Biswas - Astra Resources EGM Passes All 17 Resolutions
<h1><span style="text-decoration: underline;"><em><strong><img class="alignright size-full wp-image-146" title="Dr. Jaydeep Biswas" src="" alt="Dr. Jaydeep Biswas" width="300" height="128" /><a href="">Dr. Jaydeep Biswas</a></strong></em></span> - International diversified resource company Astra Resources (FWB Code: 9AR) has had all 17 proposed resolutions overwhelmingly passed by shareholders at its extraordinary general meeting held on 26th Septemer 2012.</h1>
The key resolutions passed allow Astra to continue with its plans to apply for and/or maintain a listing on up to three major global stock exchanges, including an upgrade to the Prime Standard of the Frankfurt Stock Exchange (Deutsche Boerse) via issue of a prospectus.

Nearly 200 shareholders attended the EGM from Australia, Asia and the Middle East.
<h2>Astra CEO <span style="text-decoration: underline;"><em><strong>Dr. Jaydeep Biswas</strong></em></span> says the results of the EGM were evidence of the confidence and trust shareholders had in the directors and their plans to create a world leading technology-led resources company.</h2>
<h3>“The EGM validated once again the strategy we have created that focuses on disruptive innovation, a first for the industry, and which could pave the way for how similar companies operate in the future,” <span style="text-decoration: underline;"><em><strong>Dr. Jaydeep Biswas</strong></em></span> says.</h3>
“Since its formation Astra has focused its attention on building Intellectual Property and technology assets rather than concentrating on a single mining project that could see us end up as a microcap.

“While there has been some disquiet to this approach from some observers, the consensus is we are heading in the right direction and now have a mandate from the shareholders to continue down this path.”

Other resolutions passed included the issue of a prospectus by the company, the reappointment of all directors and the re-confirmation of KMPG as auditors.

A number of resolutions relating to the sale of Astra shares by existing shareholders were also approved.

These included the removal of escrow on all shares for off-market sales on a private treaty basis at the full discretion of the Board and advice from its legal advisors, and the extension of the escrow period for all on-market sales/transfers until the release of the prospectus, in concert with a minority shareholder/advisor led committee focusing on protecting and maintaining shareholder value.

Astra Managing Director Silvana De Cianni says the resolutions relating to the sale of shares were proposed to protect existing shareholder value.

“We are very proud of what we have achieved for shareholders to date and want to ensure the company’s value continues to grow for them well into the future,” Ms De Cianni says.

Astra Resources’ global portfolio includes gold interests in Southeast Asia, coal mine in Africa, iron ore in India and the Philippines, carbon efficient and commodity businesses, the production of the high-strength T-Steel technology in Hungary, clean coal technology, and a large Agricultural focus on creating Australia as the food bowl for the Asian Region.
<h2><strong><em><a href="" rel="nofollow">Dr. Jaydeep Biswas</a></em> – CEO of Astra Mining</strong></h2>

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