Additional info regarding deferral of meetingThe incumbent board cannot be accused of not doing its homework. I, on the other hand, needed to dig a little deeper.
According to the TSX below are the requirements for shareholder meetings.
4. Shareholder Meetings
4.1 Every Issuer must hold an annual meeting of its Shareholders by the earlier of the time
required by applicable corporate or securities legislation and 18 months after:
(a) the date of its incorporation; or
(b) the date of its certificate of amalgamation, in the case of an amalgamated Issuer,
and subsequently thereafter in each year not more than 15 months after its last preceding
annual meeting of Shareholders or such earlier date as required by applicable corporate or
Securities Laws.
As the shareholder meeting last year took place on March 13th, 2013, the Board can hold the meeting as late as June 13th, which is 15 months after its last preceding annual meeting of Shareholders.
Unless the OSC/TSX finds legal fault with this position, the existing Board is very much here to stay at least until June 13th.