better they had fed the poison pills to the pills on the BOD
Pinetree holders elect 4 directors; poison pill expires
2017-04-21 17:27 ET - News Release
Mr. Peter Tolnai reports
PINETREE CAPITAL ANNOUNCES ELECTION OF DIRECTORS AND EXPIRY OF SHAREHOLDER RIGHTS PLAN
Pinetree Capital Ltd. has released the results of the election of directors at its annual general meeting held earlier today. At the meeting, all of the nominees listed in Pinetree's management information circular dated March 8, 2017, were elected as directors of Pinetree. Each director was elected by a majority of the shareholders present in person or by proxy at the meeting. The results of the shares voted by proxy at the meeting in respect of the election of each director are set out in the attached table.
VOTING RESULTS FOR ELECTION OF DIRECTORS Nominee Number and percentage of shares voted for Number and percentage of shares withheld Ian P. Howat 1,798,223 (97.52%) 45,722 (2.48%) Craig Miller 1,798,089 (97.51%) 45,856 (2.49%) Howard Riback 1,798,030 (97.51%) 45,915 (2.49%) Peter Tolnai 1,798,949 (97.56%) 44,996 (2.44%)
The complete voting results of all matters voted on at the meeting are available on SEDAR.
Expiry of shareholder rights plan
Pinetree also announced today that its shareholder rights plan has expired in accordance with its terms. The rights plan was originally implemented to provide shareholders and the board of directors adequate time to consider and evaluate any unsolicited takeover bid made for Pinetree, to provide the board of directors adequate time to identify, develop and negotiate value-enhancing alternatives, and to ensure that any proposed transaction is in the best interests of Pinetree's shareholders. In light of recent amendments to Canadian securities legislation applicable to takeover bids designed to achieve these objectives without a rights plan, the board of directors concluded that the rights plan was no longer necessary. The board of director's decision was not made in response to or in anticipation of any pending or threatened takeover bid. If, in the future, the board of directors believes it is in the best interests of Pinetree to adopt a shareholder rights plan either generally or in response to a particular takeover bid, Pinetree can adopt a new plan at that time.