ENP Newswire -
Release date- 16072014 -
The purpose of the Advance Notice Policy is to provide shareholders, directors and management of the company with direction on the nomination of directors. Among other things, the Advance Notice Policy fixes a deadline by which shareholders must submit a notice of director nomination to the Company prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Company.
In the case of an annual meeting of shareholders, notice to the Company must be given not less than 30 nor 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 40 days after the first public announcement of the annual meeting, notice may be not later than the 10th day following such public announcement.
In the case of a special meeting of shareholders called for the purpose of electing directors, notice to the Company must be made no later than the 15th day following the first public announcement of the special meeting.
The Advance Notice Policy provides shareholders, directors and management of the Company with a clear framework for nominating directors. The Policy is intended to (i) facilitate an orderly and efficient annual general or special meeting of shareholders; (ii) ensure that all shareholders receive adequate notice of the director nominations and sufficient information regarding all director nominees and (iii) allow shareholders to register an informed vote after having been afforded reasonable time for deliberation.
The policy is effective immediately and will be placed before shareholders for approval at the next annual and special meeting of shareholders of the Company which is to be held on
This release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors beyond the Company's control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.
Patrick J. Laracy LL.B
Tel: (709) 754-3186
Fax: (709) 754-3946
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