Blackgold seeks more time to hold AGM

BLACKGOLD Natural Resources sought a further two-month extension to hold its annual general meeting (AGM) for the financial year ended Dec 31, 2016.

It said that an application has been made to the Singapore Exchange (SGX) for extension from the current deadline of June 30, 2017 to Aug 31, 2017.

It explained that the qualified person's report and the annual report for the financial year ended Dec 31, 2016 will not be ready in time to allow for sufficient notice to shareholders prior to the AGM date.

The listed group has in April applied with the SGX for a two-month extension to June 30, 2017 to hold its AGM.

It cited then an earlier announcement on April 7, 2017 relating to the Indonesian government's guidelines in relation to the selling price of electricity to the state-owned electricity company, PT PLN (Persero).

The establishment of these guidelines changes critical assumptions in relation to the coal reserves estimation and has necessitated more time for completion of the qualified person's report for the financial year ended Dec 31, 2016, it said.