News Column

Petrolympic Announces Voting Results for 2014 Annual and Special Meeting of Shareholders and Grant of Stock Options

June 7, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- Petrolympic Ltd. (the "Company" or "Petrolympic") (TSX VENTURE:PCQ) is pleased to announce that all items on the agenda were approved at the Company's annual and special shareholders meeting held on May 20, 2014. At the AGM, the shareholders ratified the Company's 10% rolling stock option plan, re-appointed MNP LLP as auditors of the Company for the ensuing year, and authorized the directors to fix their remuneration.

In addition, each of the current directors of Petrolympic, being Mendel Ekstein, Andreas Jacob, Alain Fleury, Frank Ricciuti, Miles Pittman, Rodger Creamer, and a proposed nominee, Glenn MacNeill, was elected as a director by a majority of votes to serve until the next annual meeting or until their successors are elected or appointed.

New board member, Mr. MacNeill, is a petroleum engineer and has over 30 years of experience in various project and financial functions. Mr. MacNeill is currently a portfolio manager with Pangaea Asset Management. Previously, he was with Lawrence Asset Management as Chief Investment Officer, and with Sentry Select Capital Corp. as VP, Investments. In the past, Mr. MacNeill has also worked with HSBC Securities Inc., Scotia Capital Inc., Imperial Life/Desjardin Group and TD Bank. He has over 30 years of experience in financial and petroleum fields and has extensive experience in oil and gas royalty trusts, energy companies, and private investment opportunities.

CEO Mendel Ekstein commented: "We are very happy to have attracted Mr. MacNeill as a director of Petrolympic. With his background and experience, I believe he will significantly enhance our board and I look forward to working with him as Petrolympic enters a new phase in its Quebec projects."

Furthermore, Petrolympic announced that the board of directors of the Company granted an aggregate of 1,230,000 incentive stock options to the Chief Financial Officer, the Secretary and the directors of the Company at the exercise price of $0.36 exercisable until May 20, 2019. The options are being granted pursuant to the terms of the Company's stock option plan.

Keywords for this news article include: Banking and Finance.

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Source: Investment Weekly News


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