Mar. 23, 2011 (Canada NewsWire Group) --
/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
BURNABY, BC, March 23 /CNW/ - Legend Power Systems Inc. (the "Company")
(TSXV: LPS) is pleased to announce that all the resolutions proposed at
the annual general and extraordinary meeting of shareholders of the
Company held on March 17, 2011 (the "Meeting") were duly passed. At the
Meeting, each of Gerald A. Gill, Randy Buchamer, Douglas Blakeway,
Michael Harcourt, Troy Moreira, Dr. Jan Carr and Michael Atkinson were
re-elected to the Board of Directors of the Company (the "Board"), and
D&H Group LLP, Chartered Accountants was re-appointed as auditors of
the Company.
In addition to the customary corporate matters approved at the Meeting,
the Company's shareholders approved amendments to the Company's 10%
rolling share option plan dated for reference March 24, 2010 (the
"Plan"), such amendments as set out in detail in the Company's
information circular for the Meeting (the "Circular"), and approved the
continuation of the Plan, as amended March 17, 2011. The shareholders
also approved the adoption of a new set of Articles, which has
provisions allowing for the use of uncertificated shares and electronic
record keeping systems, as more particularly described in the Circular.
Immediately following the Meeting, the Board approved the continuance of the following officers of the Company:
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Gerald A. Gill Randy Buchamer Shabir Dhanani Alessandra Olmedo |
Chairman of the Board and Chief Executive Officer President and Chief Operating Officer Chief Financial Officer and Corporate Secretary Assistant Corporate Secretary |
The Board also approved amendments to Mr. Gill's employment and change
of control agreements.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) is a leading electrical energy conservation company that manufactures
and markets a voltage optimization solution to help commercial and
industrial customers to reduce electrical energy consumption and costs.
Legend Power's Electrical Harmonizer-AVR helps companies reduce their
electricity bills, maintenance costs, and increases the life of
electrical equipment, while contributing to a reduction in green house
gas emissions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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