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Mainstreet Announces Withdrawal of Resolution to Approve Stock Option Plan
Mainstreet Announces Withdrawal of Resolution to Approve Stock Option Plan Canada ...
About this update from Mainstreet Equity Corp.
[{"type":"text","content":"\n\n\n\nMainstreet Announces Withdrawal of Resolution to Approve Stock Option Plan\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\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, March 12, 2018\n\n\n\nCALGARY, March 12, 2018 /CNW/ - Mainstreet Equity Corp. (\"Mainstreet\" or the \"Corporation\") (TSX:MEQ) today announced that it will be withdrawing from the matters of business to be considered at the annual and special meeting of shareholders of Mainstreet to be held on March 16, 2018 (the \"Meeting\"), the ordinary resolution to approve a new stock option plan of the Corporation (the \"2018 Plan\").\n\nBased on feedback received from certain institutional shareholders, the Mainstreet Board has made a determination to revoke its approval of the 2018 Plan and defer the matter for re-consideration at some time in the future. Accordingly, Mainstreet has determined to remove the ordinary resolution to approve the 2018 Plan, as described in Mainstreet's management information circular dated February 9, 2018, (the \"Meeting Materials\") from consideration at the Meeting, notwithstanding that, based on the number of proxies which have been deposited with the Corporation to date, Mainstreet believes that it is highly likely that this ordinary resolution would have been passed by a large majority of the votes cast had the matter been submitted for approval at the Meeting.\n\nThe withdrawal of this resolution from the matters of business to be considered at the Meeting will not affect the validity of the form of proxy enclosed with the Meeting Materials, nor the validity of any proxy that has been otherwise already properly submitted. Shareholders wishing to complete and submit a proxy in relation to the Meeting do not need to indicate their voting instructions on the resolution regarding the 2018 Plan. \n\nForward-Looking InformationCertain statements contained herein constitute \"forward-looking statements\" as such term is used in applicable Canadian securities laws. These statements relate to, among other things, the passing of the ordinary resolution to approve the 2018 Plan based on proxies rec...