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OPEL Solar International Inc.
TSX VENTURE : OPL
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May 27, 2011 15:28 ET
OPEL Solar International-Upcoming Shareholders Meeting and Proposed Name Change
SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - May 27, 2011) -OPEL Solar International Inc. (TSX VENTURE:OPL) ("OPEL Solar," or "the Company") announces that proxy materials were recently mailed to shareholders with respect to the Annual and Special Meeting of shareholders to be held in Toronto on June 21, 2011 (the Meeting") and PDF copies of the said material has been filed on SEDAR (www.sedar.com).
In addition to the usual matters to be determined at the Meeting, including the appointment of auditors and election of directors, shareholders will be asked to consider a special resolution authorizing, subject to regulatory approval, the proposed change in the name of the Company to 'OPEL Technologies Inc.'
The Name Change provides more focus and a clear framework for the two distinct divisions of the Company. OPEL Solar has its HCPV and solar tracker technologies, and ODIS has the extraordinary gallium arsenide POET technology. With each division having such significant technologies in their own right, the Company and its shareholders are best served to take a name that is more descriptive to encompass the broadening universe that is OPEL today.
Shareholders will also be asked, at the meeting, to approve Amendments to the Company's Stock Option Plan in order to increase the Number of Shares Reserved for Issuances under the Option Plan.
The Directors have approved these matters, as they believe they are in the best interests of the shareholders. Management's focus is on its efforts to grow the Company to its next level of success, to build on the strong foundation already in place, to provide increased brand recognition and to increase investor awareness, which should eventually yield added shareholder value. The Company's business outlook continues to be extremely positive, and shareholders will be presented with an update on the Company at the Meeting.