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Leading Independent Proxy Advisory Firm Recommends that Shareholder's of East Asia Minerals Vote FOR the Incumbent Board
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2018) - East Asia Minerals Corporat...
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[{"type":"text","content":"Leading Independent Proxy Advisory Firm Recommends that Shareholder's of East Asia Minerals Vote FOR the Incumbent BoardVancouver, British Columbia--(Newsfile Corp. - January 29, 2018) - East Asia Minerals Corporation (TSXV-EAS) (\"East Asia Minerals\" or the \"Company\") is pleased to announce that Glass Lewis & Co (\"Glass Lewis\") supports the election of management's nominees for the board of directors who is currently in place. With regards to the adjournment of the shareholder meeting to Thursday, February 1, 2018, the Company will address the reasons in forthcoming communications. Glass Lewis is a leading independent corporate governance and proxy advisory firm who provides analysis and vote recommendations intended to assist its clients in making proxy voting decisions. These clients include pension funds, investment managers, mutual funds and other institutional shareholders who rely on Glass Lewis' expert and unbiased recommendation. After carefully reviewing the facts and arguments made by both the Company and Messrs. Vishal Gupta and Patrick Cronin (the \"Dissidents\"), Glass Lewis has made the following points in recommending a vote FOR the incumbent Board against the Dissident's proposed slate. \"We welcome the unbiased report and recommendation from Glass Lewis,\" said Terry Filbert, CEO and Chairman of East Asia Minerals. \"Glass Lewis' analysis backs our belief that the future of the Company best lies in the hands of the incumbent board who have worked hard to bring the Company back on track since being appointed in March 2017.\"On the Dissident's plan- \"largely lacking in substance\"\"... the Dissidents have failed to provide shareholders with key details as to how its nominees would go about enacting the Dissidents' plan for the Company...the Dissidents have not outlined a funding plan for the development of the Miwah Project, nor have the Dissidents indicated how its nominees would specifically go about obtaining the requisite government approvals for the project. The Company has also noted that the Aceh Government will not work with the Company's former management...we believe that the Dissidents' plan for the Company is largely lacking in substance.\"On the current Board's Plan- \"sensible\"\"...by bringing the Sanighe Project into a stage of production and cash flow generation, the Company would ...