Baralaba Coal may bounce back as Bunji Corporation
THE company formerly known as Baralaba Coal - and before that Cockatoo Coal and Black Energy Ltd - could soon be known as Bunji Corporation Limited if the choice is approved by shareholders at a meeting in Brisbane on Wednesday.
The company, which owns the Baralaba North coal mine but has struggled to stay solvent in the past few years, is legally known as A.C.N. 112 682 158 Limited after going into administration last July and later entering a deed of company arrangement.
Shareholders will also be asked to vote on a proposal to recapitalise the company by raising up to $700,000, as well as the election of three new directors who will receive stock: Peter Wood, Shaun Hardcastle and Nicholas Young.
The vote to change the company's name will require the approval of 75 per cent of shareholder votes cast in order to be passed.