VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/29/13 -- Cardero Resource Corp. ("Cardero" or the "Company") (TSX: CDU)(NYSE MKT: CDY)(FRANKFURT: CR5) announces that all motions put forward for approval at its 2013 Annual General Meeting held April 25th in Vancouver, British Columbia ("AGM") passed with significant shareholder support.
2013 Annual General Meeting Results
At the AGM, the following individuals were re-elected as the directors of the Company: Paul Matysek, Stephan Fitch, Ryan Dunfield, Leonard Harris, and the Company's President & CEO, Hendrik Van Alphen. All directors were re-elected with the support of over 97% of the votes cast. PricewaterhouseCoopers, LLP, Chartered Accountants, were also appointed as the auditors of the Company for the fiscal year ending October 31, 2013.
The Company's shareholders also approved an amendment to the Articles of the Company which implements a requirement for advance notice in connection with the nomination of individuals for election as director of the Company ("Advance Notice Requirements"). The purpose of the Advance Notice Requirements is to provide shareholders, directors and management of the Company with a clear framework for nominating directors of the Company. The Company is committed to: (a) facilitating an orderly and efficient annual general or, where the need arises, special meeting, process; (b) ensuring that all shareholders receive adequate notice of director nominations and sufficient information regarding all director nominees; and (c) allowing shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation. The Advance Notice Requirements are intended to further these objectives.
The Advance Notice Requirements, which are effective today, include, among other things, a provision that requires advance notice to the Company in certain circumstances where nominations of persons for election to the Board of Directors are made by shareholders of the Company. The Advance Notice Requirements fix a deadline by which director nominations must be submitted to the Company prior to any annual or special meeting of shareholders and sets forth the information that must be included in the notice to the Company. No person will be eligible for election as a director of the Company unless nominated in accordance with these requirements. In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 days and not more than 65 days prior to the date of the annual meeting; provided, however, that, in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
The full text of the Advance Notice Requirements, together with the detailed proxy voting on all resolutions submitted to the shareholders at the 2013 Annual General Meeting, is contained in the "Report of Voting Results" for the AGM which is available under the Company's profile on SEDAR and on the Company's website or upon request by contacting the Company's Corporate Secretary at (604) 408-7488.
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