Xanadu Mines Ltd to defer AGM due to COVID-19 pandemic

The Australian Securities and Investments Commission (ASIC) is cautioning entities against holding an AGM while current restrictions on large gatherings are in place.

Xanadu Mines Ltd (ASX:XAM) has decided to defer its Annual General Meeting (AGM) due to the restrictions arising from the COVID-19 containment efforts and in line with advice from the Australian Securities and Investments Commission (ASIC).

The AGM was due to take place on May 8.

ASIC has recently provided the advice that it will take a no action stance if a company postpones its AGM for two months, being until the end of July.

It is cautioning entities against holding an AGM while current restrictions on large gatherings are in place.

AGM to be held on June 11

Considering this advice, Xanadu has determined to defer its Annual General Meeting to July 30 at 11am (EST).

In addition, the revised closing date for the receipt of nominations from persons wishing to be considered for election as a director is Thursday June 11.

Shareholders will be advised of further details regarding the 2020 Annual General Meeting in a separate Notice of Meeting, which will be provided to shareholders in late June 2020.