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Leading Independent Proxy Advisory Firm ISS Recommends Shareholders Vote Against the Removal of Current Directors, Withhold From Voting for Dissident Nominees
Leading Independent Proxy Advisory Firm ISS Recommends Shareholders Vote Against the Remo...
About this update from Karnalyte Resources Inc.
[{"type":"text","content":"\n \n \n \n Leading Independent Proxy Advisory Firm ISS Recommends Shareholders Vote Against the Removal of Current Directors, Withhold From Voting for Dissident Nominees\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n \n ISS notes that Dissidents have failed to make compelling case for change\n \n \n Time is short. Shareholders urged to vote prior to the proxy voting deadline of\n \n Friday, December 11, 2020\n \n at\n \n 9:30 a.m.\n \n (Saskatoon Time)\n \n \n \n \n SASKATOON, SK\n \n ,\n \n Dec. 9, 2020\n \n /CNW/ - Karnalyte Resources Inc. (\"\n \n Karnalyte\n \n \" or the \"\n \n Company\n \n \") (TSX: KRN) today announced that leading independent proxy advisory firm Institutional Shareholder Services Inc. (\"\n \n ISS\n \n \") recommends that Karnalyte shareholders vote AGAINST the removal of current Directors and WITHHOLD from voting for the slate of Dissident nominees in relation to the Company's upcoming Special Meeting of Shareholders (the \"\n \n Meeting\n \n \").\n \n \n In making its recommendation, ISS carefully and independently reviewed the arguments made by both sides. In making its recommendation, ISS stated:\n \n \n \"The dissident has failed to make a compelling case that a change in board control is warranted…As such, shareholders are advised to vote AGAINST the removal of the current directors and to vote WITHHOLD for the slate of dissident nominees.\"\n \n \n \"The voting recommendations from ISS against the removal of the current Board and to withhold from the Dissident's nominees reinforces that changes to our board are not warranted and that it is in Karnalyte's best interest to move ahead with its existing board members,\" said\n \n Danielle Favreau\n \n , Karnalyte's Interim CEO. \"Time is short. In order to ensure that your votes are received in time to be counted at the Meeting, shareholders should vote immediately and as recommended by our B...