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Stardust Solar Energy Inc. Announces Adoption of New By-Law No. 1 with Advance Notice Provisions
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2025) - Stardust Solar Energy Inc. (TS...
About this update from Stardust Solar Energy Inc.
[{"type":"text","content":"Stardust Solar Energy Inc. Announces Adoption of New By-Law No. 1 with Advance Notice ProvisionsVancouver, British Columbia--(Newsfile Corp. - August 8, 2025) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (FSE: 6330) (\"Stardust Solar\" or the \"Corporation\") today announces that its board of directors (the \"Board\") has repealed its current Canada Business Corporations Act By-Laws and By-Law Amendments and approved a new Canada Business Corporations Act by-law being a by-law relating generally to the conduct of the business and affairs of the Corporation (\"By-Law No. 1\") and including and introducing an advance notice requirement in connection with shareholders intending to nominate directors in certain circumstances (the \"Advance Notice Provisions\").By-Law No. 1 sets a deadline by which such shareholders must notify the Corporation in writing of an intention to nominate directors prior to any meeting of shareholders at which directors are to be elected and set forth the information that the shareholder must include in the notice for it to be valid. The Board believes that its By-Law No. 1 provides a clear and transparent process for shareholders to follow if they intend to nominate directors and provides a reasonable time frame for shareholders to notify the Corporation of their intention to nominate directors. The Board will be able to evaluate the proposed nominees' qualifications and suitability as directors and respond as appropriate in the best interests of the Corporation. In the case of an annual meeting of shareholders, notice to the Corporation must be made not less than 30 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 40 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 10th day following such public announcement.In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Corporation must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.By-Law No. 1 is effective immediately and will be placed before shareholders f...