Business
Wesdome adopts corporate governance measures
TORONTO , July 4, 2013 /CNW/ - Wesdome Gold Mines Ltd. (" Wesdome " or the " Company ") ...
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":"\n\n\nTORONTO, July 4, 2013 /CNW/ - Wesdome Gold Mines Ltd. (\"Wesdome\" or the \"Company\") (TSX: WDO) announces the adoption by its board of directors (the \"Board\") of: (i) a majority voting policy for the election of directors (the \"Majority Voting Policy\"); and (ii) amendments to its by-laws (the \"Amendments\") to include an advance notice requirement (the \"Advance Notice Provisions\") in connection with shareholders intending to nominate directors in\n certain circumstances.\n\n\nMajority Voting Policy\n\n\nUnder the Majority Voting Policy, any nominee for director of the\n Company who receives a greater number of votes \"withheld\" from his or\n her election than votes \"for\" such election shall, within five days\n following the filing by the Company of a report disclosing the voting\n results, tender his or her resignation for consideration by the\n nominating and corporate governance committee of the Board (the \"Committee\"). The Committee shall consider the resignation and recommend to the\n Board the action to be taken with respect to such resignation, which\n may include acceptance of the resignation, rejection of the\n resignation, or rejection of the resignation coupled with a commitment\n to seek to address and cure the underlying reasons reasonably believed\n by the Committee to have substantially resulted in the \"withheld\"\n votes. The Committee shall be expected to accept the resignation except\n in situations where extenuating circumstances would warrant the\n applicable director continuing to serve on the Board. The Board then\n has 90 days following the date of the shareholders' meeting at which\n the election occurred to decide whether to accept the resignation.\n Promptly after the Board's decision, the Company will disseminate the\n information in a press release. If the decision is not to accept the\n director's resignation, the press release will disclose the process by\n which the decision was made and, if applicable, the Board's reasons for\n that decision. [The Majority Voting Policy is accessible on Wesdome's website at www.wesdome.com.]\n\n\nAdvance Notice Provisions\n\n\nThe Advance Notice Provisions require that advance notice be provided to\n the Company in circumstances where nominations of persons for election\n to the Board are made by shareholders other than pursuant to: (i) a\n req...