Business
Monument Files Lawsuit Against GoldMet and George Molyviatis to enforce Voting Agreement and Standstill
VANCOUVER , Jan. 27, 2014 /CNW/ - Monument Mining Limited (TSX-V: MMY) and (FSE: D7Q1) (...
About this update from Monument Mining Limited
[{"type":"text","content":"\n\n\nVANCOUVER, Jan. 27, 2014 /CNW/ - Monument Mining Limited (TSX-V: MMY)\n and (FSE: D7Q1) (\"Monument\" or the \"Company\") announced today that it\n has filed a lawsuit in the Supreme Court of British Columbia (the\n \"Court\") against GoldMet B.V. and its representative, George\n Molyviatis.\n\n\nIn its notice of civil claim, Monument alleges that GoldMet and Mr.\n Molyviatis are in breach of the terms of the February 17, 2013\n agreement (the \"Settlement\") under which GoldMet and Mr. Molyviatis\n agreed to support Monument, its management and its current Board of\n directors on all matters during the currency of that agreement. The\n Settlement also requires GoldMet and Mr. Molyviatis to facilitate the\n voting of their shares in favour of Monument's director nominees and to\n not solicit proxies or attempt to influence the conduct of\n shareholders.\n\n\n\"Despite repeated requests to do so, GoldMet has refused to take the\n actions required to facilitate the voting of the shares as contemplated\n in that agreement,\" said George Brazier, Monument's Chairman. \"We\n believe we have a compelling legal case and are moving forward to get a\n hearing in the Court as soon as possible, but shareholders should not\n depend on the Court to protect their investment.\"\n\n\n\"Every vote we get, no matter how small, will help keep the dissidents\n and their supporters from taking control of your Board at the Annual\n General Meeting. Shareholders should follow the advice of ISS, a\n leading independent proxy advisor, and vote for the incumbent Board,\"\n added Mr. Brazier.\n\n\nCourt relief sought by Monument\n\n\nGoldMet is the largest shareholder of Monument, with 54.1 million common\n shares representing approximately 19.67% of Monument's outstanding\n shares (the \"GoldMet Shares\"). Monument has asked the Court for, among\n other things, an order requiring GoldMet and Mr. Molyviatis to comply\n with the terms of the Settlement with Monument. The Settlement requires\n GoldMet and Mr. Molyviatis, among other things, to:\n\n\n\nSupport Management's nominees for the board of directors at Monument's\n upcoming Annual General Meeting, scheduled for February 7, 2014;\n\n\nNot solicit proxies from shareholders of Monument, alone or in concert\n with others;\n\n\nRegister the GoldMet Shares in the name of GoldMet and/or Mr.\n Molyvia...