news, what to make of this... Mr. Chad Ulansky reports
METALEX ANNOUNCES ADOPTION OF ADVANCE NOTICE POLICY
Metalex Ventures Ltd. has adopted an advance notice policy.
The Company's board of directors (the "Board") approved the Policy at the Annual General and Special Meeting held on November 29, 2013 (the "Meeting"). The shareholders of the Company ratified, confirmed and approved the Policy at the Meeting therefore the Policy is in full force and effect as of November 29, 2013. A copy of the Policy is attached as Schedule "A" to the Information Circular dated October 29, 2013 which was filed on SEDAR on October 31, 2013. The Policy includes, among other things, a provision that requires advance notice be given to the Company in circumstances where nominations of persons for election to the Board are made by shareholders of the Company other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (British Columbia) (the "BCA"); or (ii) a shareholder proposal made pursuant to the provisions of the BCA.
Additionally, the Policy sets 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, sets forth the information that a shareholder must include in the notice to the Company, and establishes the form in which the shareholder must submit the notice for that notice to be in proper written form.
In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 days nor more than 65 days prior to the date of the annual meeting. However, in the event that the annual meeting is to be held on a date that is less than 40 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 tenth (10th) day following such public announcement. In 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 fifteenth (15th) day following the day on which the first public announcement of the date of the special meeting was made.