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InterOil: Board fully committed

Staff Reporter | 5:33 AM |
INTEROIL says its board of directors and management are fully committed to acting in the best interests of the company and delivering enhanced value for all InterOil shareholders.
The company yesterday issued the statement regarding the commencement of legal proceedings against the company by shareholder Phil Mulacek.
He wants a special meeting of shareholders called on June 10, immediately before InterOil’s annual and special general meeting on June 14.
Last Friday, members of InterOil’s board of directors – including the independent chairman Chris Finlayson – met with Mulacek.
Following the meeting, InterOil invited Mulacek and his representatives to discuss his proposals in order to reach an agreement on resolutions that would then be voted on at the AGM.
The company said it viewed the commencement of legal proceedings in order to call for a special meeting of shareholders separately from the AGM as “an unnecessary use of corporate resources and shareholder time, especially as special resolutions were already being considered as matters to be voted on at the AGM”.