Environmental Clean Technologies Limited (ASX: ESI) (ECT or Company) advises the withdrawal of Resolution 4 from the 2017 Notice of Annual General Meeting.
The resolution pertains to the approval for additional 10% placement capacity of Securities.
The Board recognises the inconsistency with seeking approval of the resolution and the stated goal of the Company to avoid further equity dilution to finance working capital.
ECT Chairman Mr Glenn Fozard said, “Withdrawing this resolution is consistent with our strategic goal of developing operational cash flows to finance working capital.”
The withdrawal of Resolution 4 will not affect the validity of the proxy form attached to the 2017 Notice of Annual General Meeting or any proxy votes already submitted.
For further information, contact:
Glenn Fozard – Chairman email@example.com