Business
Medical Facilities Corporation Announces Update to Matters Considered at Annual and Special Meeting
Medical Facilities Corporation Announces Update to Matters Considered at Annual and Specia...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n\n\n\nMedical Facilities Corporation Announces Update to Matters Considered at Annual and Special Meeting\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\nMedical Facilities Corporation Announces Update to Matters Considered at Annual and Special Meeting\nCanada NewsWire\nTORONTO, May 2, 2016\n\n\n\nTORONTO, May 2, 2016 /CNW/ - Medical Facilities Corporation (TSX: DR) (\"Medical Facilities\", \"MFC\" or the \"Corporation\") in response to comments received from ISS Proxy Advisory Services (\"ISS\"), Medical Facilities Corporation (\"MFC\") wishes to provide notice of two minor changes to the matters to be considered at MFC's annual and special meeting of shareholders to take place on May 12, 2016.\n\nAt the meeting it is proposed that MFC's articles be amended to remove the restriction prohibiting any physician licensed to practice in the United States (or any immediate family member thereof) from owning or beneficially holding MFC common shares. MFC has concluded, based on expert, independent advice, that the restriction is no longer necessary and its removal will permit U.S. physicians to acquire MFC shares and, it is expected, expand opportunities for alternative acquisition models.  In response to ISS' comments, at the upcoming meeting the amendment to the articles proposed will also provide for the variation of the quorum requirement for MFC shareholder meetings to require the holders of 25% of MFC's shares to be present in person or by proxy.  This change is not expected to have any effect on MFC or the conduct of its shareholder meetings.\n\nAdditionally, the advance notice policy to be considered at the shareholder meeting will be in the form initially proposed, with one minor change.  The change is the deletion of the provision giving MFC's board discretion to determine that, in addition to the information specifically required about nominees to the board under the terms of the policy, additional information may reasonably be required by the company to determine the eligibility of the proposed nominee as an independent director or that could be m...