Permex Petroleum increases shareholder meeting quorum to 33 1/3% of issued shares

Permex Petroleum Corp

Board approved amendment to Articles of Incorporation on September 26, 2023, effective immediately.
Quorum requirement raised from one shareholder to holders of 33 1/3% of issued voting shares.
Change may make it more difficult to hold shareholder meetings with low attendance.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Permex Petroleum Corp: Increased shareholder quorum requirement from one shareholder to 33 1/3% of issued shares entitled to vote (effective 2023-09-26).

Change: charter amendment
Effective: 2023-09-26

Exact text from the filing

On September 26, 2023, the board of directors of Permex Petroleum Corporation (the “Company”) approved an amendment to the Company’s Articles of Incorporation, effective immediately, to increase the quorum requirement for the transaction of business at a meeting of the Company’s shareholders from one shareholder to the holders of thirty-three and one-third percent (33 and 1/3%) of the Company’s issued shares entitled to vote at such meeting.

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Source: SEC EDGAR

accession 0001493152-23-034758

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