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Enter Symbol
or Name
USA
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Petrodorado Energy Ltd
Symbol PDQ
Shares Issued 482,547,066
Close 2012-08-29 C$ 0.185
Market Cap C$ 89,271,207
Recent Sedar Documents

Petrodorado shareholders re-elect three directors

2012-08-29 20:29 ET - News Release

Subject: Press Release FSC / Press Release Petrodorado Announces Results From Annual General and Special Meeting of Shareholders NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES Calgary, Alberta CANADA, August 29, 2012 /FSC/ - Petrodorado Energy Ltd. ("Petrodorado" or the "Company")(PDQ - TSX Venture),announces that all of the items of business put forward for consideration at the annual general and special meeting of shareholders held on August 28, 2012 (the "AGM") have passed by the requisite percentage of votes cast by shareholders. The items of business are as more particularly described in the management information circular dated July 31, 2012 (the "Circular") sent to shareholders in connection with the AGM. At the AGM, the shareholders of the Company approved the fixing of the number of directors of the Company at four (4) and elected three (3) individuals as directors of the Company to hold office until the next annual meeting of shareholders, unless vacated earlier in accordance with the articles or bylaws of the Company or applicable laws. The one vacancy will be filled by the board of directors prior to the next annual meeting of shareholders. The three individuals elected as directors were Krishna Vathyam, President and Chief Executive Officer of the Company, Gregg Vernon and Douglas Urch. All three individuals are returning directors. Mr. Robert Cross did not stand for re-election and is therefore no longer a director of the Company. The Company thanks Mr. Cross for all of his guidance and support over the years and wishes him the best in his future endeavours. Mr. Cross will continue to provide consulting services to the Company on an ongoing basis. Also at the AGM, the shareholders approved the retention of KPMG as auditors of the Company and re-approved the existing stock option plan. Further, the shareholders ratified and approved the adoption of a shareholder rights plan dated July 12, 2012. Details of the shareholder rights plan can be found in the Circular as well as a press release of the Company dated July 12, 2012. Lastly, the shareholders approved a repricing of certain outstanding incentive stock options as more particularly set forth in the Circular, as amended by a board of director's resolution and press release dated August 21, 2012. About Petrodorado Energy Ltd. Petrodorado is primarily engaged in petroleum and natural gas exploration and development activities in Colombia, Peru and Paraguay. Its head office is located in Calgary, Alberta, Canada and Petrodorado's common shares are traded on the TSXV under the trading symbol "PDQ" and its warrants expiring on December 3, 2012 are traded on the TSXV under the trading symbol "PDQ.WT". For further information, please contact: Krishna Vathyam, President and CEO Chris Reid, VP of Finance and CFO (403) 930-7544 Email: info@petrodorado.com Website: http://www.petrodorado.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view this press release as a webpage, please click on the following link: http://www.fscwire.com/pr/petrodoradoaug292012.htm Source: Petrodorado Energy Ltd. (TSX-V: PDQ) http://www.petrodorado.com Maximum News Dissemination by FSCwire. http://www.fscwire.com .

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