Santa Barbara Resources Limited (TSX-V: SBL - “Santa Barbara” or
the “Company”) has adopted a new policy that requires advance notice to
Santa Barbara for nominations of directors other than by management,
through a requisition for a meeting or by way of a shareholder proposal.
Among other things, the policy fixes a deadline by which holders of
record of common shares of the Company must submit director nominations
to the Company prior to any annual or special meeting of shareholders
and sets forth the information that a shareholder must include in the
notice to the Company for the notice to be in proper written form.
In the case of an annual meeting of shareholders, notice to the Company
must be made not less than 30 nor more than 65 days prior to the date of
the annual meeting, provided that in the event that the annual meeting
is to be held on a date that is less than 50 days after the date on
which the first public announcement of the date of the annual meeting
was made, notice may be made not later than the close of business on the
tenth day following such public announcement.
In the case of a special meeting of shareholders (which is not also an
annual meeting), notice to the Company must be made not later than the
close of business on the 15th day following the day on which the first
public announcement of the date of the special meeting was made.
The new policy is intended to: (i) facilitate an orderly and efficient
annual general or special meeting process; (ii) ensure that all
shareholders receive adequate notice of the director nominations and
sufficient information regarding all director nominees; and (iii) allow
shareholders to register an informed vote after having been afforded
reasonable time for appropriate deliberation.
The policy is effective immediately and will be placed before Santa
Barbara’s shareholders for approval at Santa Barbara’s next annual
general meeting of shareholders to be held May 23, 2013.
About the Company
Santa Barbara is a South American mineral explorer focusing on Peru and
Chile. The Company has 25.3 million shares outstanding.
ON BEHALF OF THE BOARD
“Christoph Lassl”
_______________________________
Christoph Lassl, President and
Chief
Executive Officer
Please visit the Company’s web site: www.sbr-ltd.com
. For further information, please contact Christoph Lassl, President and
Chief Executive Officer. Telephone: 56-9-81490442 or email: christoph@sbr-ltd.com
.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
