Business
Laramide Resources adopts advance notice policy
TORONTO, April 15, 2013 /CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") (TSX...
About this update from Laramide Resources Ltd.
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, April 15, 2013 /CNW/ - Laramide Resources Ltd. (\"Laramide\" or the \"Company\") (TSX:LAM) announces today the approval and adoption by its board of directors (the\n \"Board\") of amendments to its by-laws (\"By-Laws\") to include advance\n notice provisions (the \"Policy\"), the purpose of which is to require\n advance notice to the Company in circumstances where nominations of\n persons for election to the Board are made by shareholders of the\n Company (the \"Shareholders\") other than pursuant to: (i) a requisition\n of a meeting of Shareholders made pursuant to the provisions of the Canada Business Corporations Act (the \"Act\"); or (ii) a Shareholder proposal made pursuant to the\n provisions of the Act.\n\n\nThe Policy fixes a deadline by which Shareholders must submit director\n nominations to the secretary of the Company prior to any annual or\n special meeting of Shareholders and sets forth the specific information\n that a Shareholder must include in the written notice to the secretary\n of the Company for an effective nomination to occur. No person will be\n eligible for election as a director of the Company unless nominated in\n accordance with the provisions of the Policy.\n\n\nThe Board believes that the amendments provide a clear and transparent\n process for all Shareholders to follow if they intend to nominate\n directors. In that regard, the amendments provide a reasonable time\n frame for Shareholders to notify the Company of their intention to\n nominate directors and require Shareholders to disclose information\n concerning the proposed nominees that is mandated by applicable\n securities laws. The Board will be able to evaluate the proposed\n nominees' qualifications and suitability as directors, and respond as\n appropriate in the best interests of the Company. The amendments are\n also intended to facilitate an orderly and efficient meeting process.\n\n\nIn the case of an annual meeting of Shareholders, notice to the Company\n must be made not less than 30 nor more than 65 days prior to the date\n of the annual meeting; provided, however, that in the event that the\n annual meeting is to be held on a date that is less than 50 days after\n the date on which the first public announcement of the date of the\n annual meeting was made, notice may be made not later than the close of\n busi...