Business
Oremex Silver Inc. Adopts Advance Notice By-Law
(via Thenewswire.ca) Toronto, ON / TheNewswire / May 27 , 2016 - Oremex Silver Inc....
About this update from Monarca Minerals Inc.
[{"type":"text","content":"Oremex Silver Inc. Adopts Advance Notice By-Law(via Thenewswire.ca)\n\n \nToronto, ON / TheNewswire / May 27, 2016 - Oremex Silver Inc. (TSXV:OAG) (\"Oremex\" or the \"Company\") announced today that the board of directors has adopted an advance notice by-law (the \"Advance Notice By-law\" or the \"By-law\"). \n\n\n \nThe purpose of the Advance Notice By-law is to provide shareholders with a clear framework for nominating directors. The board of directors believes adoption of the By-law is in the best interests of the Company and all shareholders to facilitate orderly and efficient meetings of the shareholders of the Company. \n\n\n \nAmong other things, the Advance Notice By-law provides that advance notice to the Company must be made in circumstances where nominations of persons for election to the Board are made by shareholders other than pursuant to: (i) a shareholder proposal made in accordance with the provisions of the Canada Business Corporations Act (the \"CBCA\"); or (ii) a requisition of a meeting made in accordance with the provisions of the CBCA.\n\n\n \nThe Advance Notice By-law fixes a deadline by which any person who is entered in the securities register as a holder of common shares or who beneficially owns shares that are entitled to be voted at such meeting must submit director nominations to the Company prior to any annual or special meeting of shareholders and outlines the specific information that a nominating shareholder must include in the written notice to the Company for an effective nomination to occur. No person nominated by a shareholder will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Advance Notice By-law. \n\n\n \nIn the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 days and not more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the tenth day following such public announcement.\n\n\n \nIn the case of a special meeting of shareholders (which is not also an annual meeting) called for the purpose of electing directo...