26 Butler Boulevard, Burbridge Business Park Adelaide Airport
South Australia 5950, Australia
Tel: +61 8 8375 8375 • Fax: +61 8 8375 8498
www.boartlongyear.com
31 May 2017
Boart Longyear Recapitalisation: Withdrawal of Director Candidate and Amendment of Resolutions to be considered at Annual General MeetingBoart Longyear Limited (ASX:BLY) (Boart Longyear or the Company) advises that Richard Wallman, who was nominated by Centerbridge for election to the Board of Directors at the Company's upcoming Annual General Meeting (AGM) has withdrawn his candidacy.
Mr. Wallman has advised the Company that he has withdrawn his candidacy because of his current commitments to other listed company boards. His intent is to reduce certain of those commitments in the coming months and subsequently offer himself for appointment to Boart Longyear's Board of Directors.
Accordingly, the Company advises that:
Resolution 16 (Election of proposed Director - Centerbridge Nominee) in the notice of AGM dated 12 May 2017 (the Notice), being the proposed resolution for the appointment of Mr Wallman as a Director, is withdrawn; and
The terms of Resolutions 6 to 15 (inclusive) and Resolution 17 in the Notice are amended to remove references to Resolution 16, such that those resolutions will not be conditional on the passage of Resolution 16.
Early shareholder voting has been supportive of Mr. Wallman's candidacy, with more than 91% of the 15+ million proxies received as at 29 May 2017 cast in favour of his election. The withdrawal of Resolution 16 and the amendments to the other Resolutions will not impact the timing of the AGM, which remains scheduled for 13 June 2017 at the Melbourne Convention and Exhibition Centre.
The Independent Expert, KPMG Financial Advisory Services (Australia) Pty Ltd, has confirmed that these changes do not affect its conclusion that the Recapitalisation is fair and reasonable to non- associated shareholders.
Investor Relations: Media: Nate Stubbs Michael WeirDirector, Investor Relations Citadel-MAGNUS
Australia: +61 8 8375 8300 Australia: +61 8 6160 4903
USA: +1 801 952 8343 Mobile: +61 402 347 032
ir@boartlongyear.com mweir@citadelmagnus.com
Boart Longyear Limited published this content on 31 May 2017 and is solely responsible for the information contained herein.
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