Business
Aberdeen Announces AGM Results and Management Transition
TORONTO, ONTARIO--(Marketwired - July 29, 2016) - Aberdeen International Inc. ("Aberdeen" or the "Company") (TSX:AAB) reports, in accordance with the policies o
About this update from Aberdeen International Inc.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - July 29, 2016) - Aberdeen International Inc. (\"Aberdeen\" or the \"Company\") (TSX:AAB) reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management proxy circular dated June 23, 2016 for the 2016 annual and general meeting of shareholders of Aberdeen (the \"Meeting\") were elected as directors of the Company. Shareholders at the annual meeting also approved the appointment of the Company's auditors. Aberdeen management would like to thank shareholders for their participation and continuing support, and note over 53% of all of the issued and outstanding shares of Aberdeen were represented at the Meeting. Detailed results of the vote for the election of directors held at the Meeting on July 27, 2016 in Toronto, Ontario are set out below. Election of Directors The shareholders approved the election as directors of the persons listed below, based on the following vote. Nominee % Votes For % Votes Withheld Stan Bharti 96.97% 3.03% George Faught 98.25% 1.75% David Stein 98.62% 1.38% Maurice Colson 98.63% 1.37% John Begeman 98.63% 1.37% Bernie Wilson 98.68% 1.32% Strategic Focus Effective as of August 1, 2016 Stan Bharti, P. Eng., will be appointed as Interim Chief Executive Officer of the Company. David Stein will continue to serve as a director and advise the Company with a strategic focus on fund management initiatives. Stein will serve Portfolio Manager for Ore Acquisition Partners LP, Aberdeen's private equity fund established with Landmark Partners in 2015. In addition, Stein will work with the Aberdeen team as a Managing Director to build a larger investment pool to execute mining investments, including the possibility of establishing new funds, and building greater co-investment relationships. David Stein remarked, \"I am pleased to take on this new role with Aberdeen, in which I believe I can continue to help the Company realize shareholder value through its mining investment activities. The company is in its best shape it has been in a long time, with two strong core investments in African Thunder Platinum and investments in Lithium X and the Sal de Los Angeles lithium project\". Aberdeen also wishes to thank Mr. George Faught for his important role monitoring Aberdeen's investment in African Thunder during the past 18 months. While he wi...