Notice of AGM – withdrawal of resolutions

Notice of AGM – withdrawal of resolutions

Environmental Clean Technologies Limited (ASX: ECT) (ECT or Company) refers to the Notice of Annual General Meeting dated 6 November 2019 (Notice) and specifically, resolutions 5, 6 and 7 of the Notice.

These resolutions are withdrawn due to the changes in executive roles as outlined in the Company’s ASX announcement on 4 December 2019.

Chairman, Glenn Fozard commented, “Given Jim Blackburn’s departure from the executive and subsequent shift in responsibilities for the remaining executives, we felt that, despite the allocation of shares acting as compensation for the reduced cash remuneration of the executive (announcement 11 September 2019) which commenced in October 2019, these agenda items are not an accurate reflection of the current direction of the Company.”

Additionally, with Jim Blackburn continuing as a non-executive director, the fact that he does not hold any shares in the Company is important in the pursuit of alignment with ASX corporate governance principles and recommendations.

As at the date of this announcement, approximately 662 million votes have been cast for these resolutions with voting as follows:

ResolutionForAgainstDiscretionary
(5) Issue 17 million shares fully paid ordinary shares to Glenn Fozard84.8%13.5%1.7%
(6) Issue 17 million shares fully paid ordinary shares to James Blackburn83.3%14.7%2.0%
(7) Issue 17 million shares fully paid ordinary shares to Ashley Moore83.3%14.7%2.0%

The Notice of Annual General Meeting was released via the ASX on 13 November 2019 and has been distributed to shareholders. The Annual General Meeting is to be held at 10:00 am (AEDT) on Friday, 13 December 2019 at the offices of RSM Bird Cameron, Level 21, 55 Collins Street, Melbourne, Victoria.

The withdrawal of Resolutions 5, 6 and 7 will not affect the validity of a proxy form attached to the Notice of Annual General Meeting.

For further information, contact:

Glenn Fozard – Chairman           info@ectltd.com.au