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Novy Neft Limited Announces Result Of Annual General Meeting
Hamilton, Bermuda: 01 March 2006 - The Directorsof Novy Neft Limited ("the Company") wish to advise that at the Adjourned Annual General Meeting ("AGM") held on 13 February 2006, the member attending by proxy voted in favour of all resolutions proposed which included the resolution that was required to be proposed pursuant to the Company's Bye-laws, that the Company continue as an investment company until the next AGM.
Votes cast were as follows:-
For (all resolutions) - 215,000 / Against - 0 / Abstain - 0
The AGM was scheduled to be held on 6 February 2006 however, it was adjourned to 13 February 2006 due to insufficient members attending.
The Board is currently reviewing final proposals with its advisers relating to the repayment of all the Company's assets to Shareholders (the "Termination Proposals") and an announcement is expected imminently.
For further information on Novy Neft Limited please contact:
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Megan Woloshyn Butterfield Securities (Bermuda) Limited Tel: (441) 298 4764 Fax: (441) 295 6759 Email: meganwoloshyn@bntb.bm |
Christopher Fitzwilliam-Lay Charlemagne Capital (UK) Limited Tel: (44 20) 7518 2100 Fax: (44 20) 7518 2199 Email: chris.fitzwilliamlay@charlemagnecapital.com |