Parkit Enterprise Inc. Changes Annual Meeting Date Parkit Enterprise Inc. Changes Annual Meeting Date
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 6, 2016) - Parkit Enterprise Inc. ("Parkit" or "the Company") (TSX VENTURE:PKT)(OTCQX:PKTEF) announced today that the scheduled annual general meeting (the "AGM") of Parkit has been changed from June 21, 2016 to July 26, 2016 and the record date for the AGM has been changed from May 9, 2016 to June 9, 2016.
The board of directors of the Company (the "Board") has determined that it is in the best interests of the Company to change the AGM date in order to allow time to fully consider the dissident circular sent by the group of dissident officers led by Richard Baxter (the "Suspended Officers") and re-issue a management information circular. It is important that the Company take the time for all shareholders to have sufficient information to make an informed decision regarding their investment and the future of Parkit.
Shareholders will receive a new management information circular, which will provide shareholders with additional background of the events that gave rise to recent actions of the Suspended Officers, set out the Board's views on the proposals being made by the Suspended Officers, remove Mr. Baxter as a proposed nominee to the Board and propose a decrease in the size of the Board from six members to five members.
In addition, it has come to the Board's attention that the Company's management information circular was, at the direction of the Suspended Officers, only mailed to a small number of shareholders as compared to the dissident proxy circular prepared by the Suspended Officers, which was more broadly disseminated. The Company intends to mail the management information circular to all shareholders, which will enable all shareholders to be informed and participate in the determination of the outcome at this critical AGM.