Stroud Adopts Advance Notice By-Law

About this update from Stroud Resources Ltd.

[{"type":"text","content":"Stroud Adopts Advance Notice By-LawStroud Adopts Advance Notice By-Law\nToronto, Ontario CANADA, October 23, 2013 /FSC/ - Stroud Resources Ltd. (SDR - TSX Venture), (\"Stroud\"\" or the \"Company\") announced today that it has adopted an amendment to its by-laws, similar to by-law amendments and policies recently adopted by a number of other Canadian public companies, requiring advance notice to the Company for nominations of directors by shareholders other than through a requisitioned meeting or shareholder proposal under applicable corporate laws. \nThe by-law amendment is not intended to discourage director nominations but rather to facilitate orderly and efficient meetings at which directors are to be elected and to permit shareholders to register an informed vote by allowing them to receive sufficient information with respect to all director nominees and reasonable time for appropriate deliberation.\nAmong other things, the by-law amendment fixes a deadline by which holders of record of common shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Company for the notice to be in proper written form.\nIn the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor 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 10th day following such public announcement.\nIn the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company 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. \nNotwithstanding the foregoing, with respect to the annual and general meeting of the Company to be held on November 29, 2013 (the \"Meeting\"), any notice delivered to the Company prior to the close of business on Monday, November 4, 2013 shall be deemed to have been timely delivered.\nThe by-law amendment is effective immediate...

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