Business
Western Forest Products Inc. Announces Amendments to By-Laws and Adoption of Advance Notice By-Law
Western Forest Products Inc. Announces Amendments to By-Laws and Adoption of Advance Noti...
About this update from Western Forest Products Inc.
[{"type":"text","content":"\n \n \n \n Western Forest Products Inc. Announces Amendments to By-Laws and Adoption of Advance Notice By-Law\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX: WEF\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Feb. 19, 2021\n \n /CNW/ - Western Forest Products Inc. (TSX: WEF) (\"Western\" or the \"Company\") announced today the adoption by its board of directors (the \"Board\") of (i) amendments to its by-laws to allow for virtual meetings and (ii) an advance notice by-law.\n \n \n \n \n \n \n \n \n \n \n \n By-law Amendments\n \n \n \n \n On\n \n November 5, 2020\n \n , the Board approved amendments to our by-laws (the \"By-law Amendments\") which allow for, among other things, notice of meetings to be given to shareholders by electronic means and meetings of shareholders to be held by telephonic, electronic or other communications facilities.\n \n \n \n \n Advance Notice By-law\n \n \n \n \n On\n \n November 5, 2020\n \n , the Board adopted an advance notice by-law (the \"Advance Notice By-law\"). The Advance Notice By-law creates procedures for giving advance notice to the Board of shareholder nominations for directors at any meeting of shareholders where directors are being elected in order to facilitate an orderly and efficient meeting process and allow all shareholders a reasonable opportunity to evaluate all proposed nominees and make an informed voting decision.\n \n \n Under the Advance Notice By-law, shareholders seeking to nominate a candidate for a Board seat will generally be required to provide notice at least 30 days prior to the date of an annual general meeting or within 15 days following the announcement of any special meeting where directors are being elected.\n \n \n The By-law Amendments and Advance Notice By-law are effective as of their adoption by the Board and are subject to confirmation and ratification by shareholders at Western's upcoming annual and special meeting of shareholders, which is scheduled for\n \n May 6, 2021\n \n . For Western's upcoming annual and special shareholders' mee...