Yowie Group Limited (ASX: YOW) has announced the postponement and change of venue for its Extraordinary General Meeting (EGM), originally scheduled following a notice from Keybridge Capital Limited. The EGM, now set for July 14, 2025, at the company’s Melbourne headquarters, was called by Keybridge to consider resolutions including changes to the constitution and the removal of Yowie directors in favor of Keybridge nominees. Yowie’s board is advising shareholders to take no action at this time.
The board’s decision to postpone is driven by several factors. Firstly, both Yowie and Keybridge have applications before the Takeovers Panel concerning the validity of the meeting request and voting eligibility, particularly in light of Yowie’s ongoing takeover offer for Keybridge. The board believes these matters must be resolved before the meeting proceeds. Secondly, concerns have been raised regarding the notice of meeting itself, specifically relating to a constitutional clause and its potential impact on resolutions. Yowie argues that shareholders have not been adequately informed about the consequences of altering this clause.
Adding further complexity, Yowie has been notified that a Keybridge shareholder holding over 5% of the company issued a notice seeking the removal of Keybridge directors, and a separate meeting has been called for this purpose. This internal strife within Keybridge adds uncertainty to the broader situation. The postponement also shifts the proxy lodgment cutoff to July 12, 2025, aligning with revised voting entitlement dates. Yowie emphasizes its commitment to educating children about the environment and ecology through its products.
