TORONTO, Sept 4 (Reuters) – Shareholders of Chariot Resources Ltd (CHD.TO) on Friday, reelected the incumbent board of directors, rejecting a slate nominated by Lundin Mining (LUN.TO) Chairman Lukas Lundin.
The shareholders also shot down a motion proposed by the dissident slate to adjourn the shareholder meeting.
Chariot had accused the Lundin nominees of attempting to seize control of Chariot without paying a control premium.
Speculation that Lundin Mining could try to acquire Chariot or its Mina Justa copper project in Peru has intensified since the proxy fight — led by Lukas Lundin and Lundin Mining Director Brian Edgar — was revealed last month.
Lundin Mining owns more than 18 percent of Chariot Resources.
Lundin Mining has stated that it does not plan to acquire Chariot Resources, or its key project in Peru. The company said it was not directly involved in the proxy fight led by its chairman to remove Chariot’s board.
However, Lundin Chief Executive Phil Wright had said the company would support the alternative slate of directors.
At the beginning of the shareholder meeting, the dissident slate moved to adjourn the meeting, alleging that yada yada continues here
Chariot Resources (CHD.to): Lukas’s bathtime
The Lundin dissident slate was today rejected and the current board keeps its jobs. Here’s Reuters: