STT Enviro holders OK resolution at special meeting
STT Enviro holders OK resolution at special meeting
2015-10-22 17:46 ET - News Release
Ms. Holly Hendershot reports
STT ENVIRO CORP. ANNOUNCES RESOLUTION PASSED AT SPECIAL MEETING
Further to the notice of meeting and record date filed on SEDAR on Aug. 21, 2015, STT Enviro Corp. held a special meeting of shareholders today.
The purpose of the meeting was to put the company in a position to implement a dividend policy in the future through a reduction in the company's stated capital by an amount equal to the balance of the company's retained earnings deficit at Dec. 31, 2014. Of the votes cast, 99.3 per cent was cast in favour of the resolution, and the company may now reduce both its stated capital and deficit by up to $14,033,620, resulting in no change to total shareholders' equity, and thereby bring the company into compliance with the Canada Business Corporations Act provisions to permit it to pay dividends.