Business
Wolfden Resources Announces Adoption of Advance Notice By-Law
THUNDER BAY, ON, May 22, 2013 /CNW/ - Wolfden Resources Corporation (the "Corporation ") (...
About this update from Wolfden Resources Corp.
[{"type":"text","content":"\n\n\n\n\n\nTHUNDER BAY, ON, May 22, 2013 /CNW/ - Wolfden Resources Corporation (the\n \"Corporation\") (WLF:TSX-V) announces that its board of directors (the \"Board\") has amended the\n Corporation's by-laws to include an advance notice requirement in\n connection with shareholders intending to nominate directors in certain\n circumstances (the \"By-Law Amendment\").\n\n\nThe advance notice requirement fixes a deadline by which holders of\n record of common shares of the Corporation must submit director\n nominations to the Secretary of the Corporation prior to any annual\n meeting of shareholders (or any special meeting of shareholders if one\n of the purposes for which the special meeting is called is the election\n of one or more directors) and sets forth the specific information that\n a nominating shareholder must include in the written notice to the\n Secretary of the Corporation for a nomination to be valid.\n\n\nThe Board understands that amending the Corporation's by-laws to include\n an advance notice requirement is consistent with an emerging corporate\n governance trend among Canadian issuers. The Board and management\n believe that the By-Law Amendment provides shareholders, directors and\n management with a transparent, structured and fair framework for\n nominating directors. In addition, the Board and management believe\n that the advance notice requirement will facilitate an orderly and\n efficient annual or special meeting process, ensure that all\n shareholders receive adequate notice and information concerning\n nominees and provide shareholders reasonable time for appropriate\n deliberation in advance of the meeting.\n\n\nIn the case of an annual meeting of shareholders, notice to the\n Corporation must be made not less than 30 and not more than 65 days\n prior to the date of the annual meeting; provided, however, that in the\n event that the annual meeting is to be held on a date that is less than\n 50 days after the date on which the first public announcement of the\n date of the annual meeting was made, notice may be made not later than\n the close of business on the 10th day following such public announcement.\n\n\nIn the case of a special meeting of shareholders (which is not also an\n annual meeting) called for the purpose of electing directors (whether\n or not called for other purposes), notice to ...