On January 24, 2020, Accelerate Resources Limited announced that on January 22, 2020 it received a notice under section 249D of the Corporations Act 2001 signed by GTT Global Opportunities Pty Ltd, Mounts Bay Investments Pty Ltd, Syracuse Capital Pty Ltd, Murdoch Capital Pty Ltd and Kcirtap Securities Pty Ltd, requisitioning a general meeting of the Company to consider resolutions for the election of Charles Thomas and David Sanders as Directors of the Board, and the removal of Managing Director Yaxi Zhan and Non-Executive Director Terry Topping from the Board. The Company added that this is the third such action by the same group of shareholders which is disruptive and costly to the Company. Such behavior will not be supported by shareholders, and the Company will seek legal advice. As such, the Board disagrees with the Proposed Resolutions and recommends shareholders vote against on all Proposed Resolutions.