Ann: Kidman moves to change KBL Mining Board, page-4

I saw the KBL announcement earlier today of the adjournment of the AGM. I thought it may be related to KDR voting against some of the resolutions and it would seem that it has been confirmed as the case.

I think this paragraph is the most telling assuming that if it is true.

Kidman is taking the above action to protect its interest as both a shareholder of KBL and as the secured debt holder. It is concerned that KBL's financial position has deteriorated drastically. Further, as Kidman has totally rejected the only proposed restructure of its secured debt put to it by KBL, it is concerned there is no current viable proposal for the repayment of its debt or to fund the expansion of the mining operations at Mineral Hill (as flagged by KBL in its recent releases).

I would have thought that if KBL had the voting numbers to pass their resolutions then they wouldn't have moved the AGM date.  No doubt the extra time is needed to canvas all existing shareholders before the AGM.