Business
Liberty Street Capital Corp. Proposes Eight Directors to the Board of Banro Corporation
TORONTO , June 5, 2014 /CNW/ - Liberty Street Capital Corp. ("Liberty Street"), working ...
About this update from Genesis Land Development Corp.
[{"type":"text","content":"\n\n\nTORONTO, June 5, 2014 /CNW/ - Liberty Street Capital Corp. (\"Liberty\n Street\"), working jointly with Mr. Noam Franklin, announced today that\n it has filed with Banro Corporation (\"Banro\" or the \"Company\") a notice\n of nomination (the \"Nomination Notice\") in accordance with the advance\n notice by-law of the Company, indicating Liberty Street's intention to\n nominate eight directors to be elected to the Board of Directors of the\n Company at the annual meeting of the Company on June 27, 2014.  A copy\n of the Nomination Notice is attached as Schedule \"A\" to this Release.\n\n\nLiberty Street's highly experienced nominees are committed to\n transforming governance at the Company and to achieve the following key\n objectives:\n\n\n\nAugment corporate governance practices at the Board and Management\n levels by adding experienced business people who have deep roots and\n expertise from the Democratic Republic of Congo (\"DRC\").\n\n\nAdjust executive compensation to be better tied to corporate\n performance.\n\n\nEfficiently transform the Company from an exploration and development\n business to a production focused Company.\n\n\n\nINDEPENDENT AND DRC-EXPERIENCED BOARD NOMINEES:\n\n\nThe Liberty Street proposed slate of directors has requisite experience\n in the DRC (two of them being residents of the DRC, and three others\n having conducted business in the DRC for approximately 10 years) and in\n the mining industry.  Included in this multi-faceted team are\n individuals who have a track record for creating and enhancing\n shareholder value, as well as the requisite specialized skills in\n corporate governance, corporate finance and operations management.\n\n\nInformation regarding Liberty Street's eight nominees for the Board of\n Directors of Banro is set forth below:\n\n\nLoudon F. McLean Owen: Mr. Owen is a principal of Liberty Street Capital Corp., a private\n merchant bank with a track record for shareholder activism and value\n creation.  As a lawyer and a venture capitalist, Mr. Owen brings over\n 25 years of experience across a wide array of businesses.  He currently\n serves as Chairman of Quantec Geoscience Inc., a leading ground-based\n geophysics firm with operations globally, including in Africa. Mr. Owen\n has initiated successful change recently at Genesis Land Development\n (...