TSXV: ABE
VAL-D'OR, QC,
Feb. 6, 2014 /CNW Telbec/ - ABE
Resources Inc. (the "Corporation") (TSXV: ABE) announces the
adoption by its board of directors (the "Board") of
amendments to its By-Laws.
By-Law 2014-1 includes a provision that requires
advance notice to the Corporation in circumstances where
nominations of persons for election to the Board are made by
shareholders of the Corporation other than pursuant to (i) a
requisition to call a shareholders meeting made pursuant to the
provisions of the Business Corporations Act (Quebec) (the "QBCA"), or (ii) a
shareholder proposal made pursuant to the provisions of the QBCA
(the "Advance Notice Provision").
Among other things, the Advance Notice Provision
fixes a deadline by which holders of record of common shares of the
Corporation must submit director nominations to the Corporation
prior to any annual or special meeting of shareholders and sets
forth the information that a shareholder must include in the notice
to the Corporation for the notice to be in proper written form.
In the case of an annual meeting of
shareholders, notice to the Corporation must be made not less than
30 nor more than 65 days prior to the date of the annual meeting;
provided, however, that in the event that the annual meeting is to
be held on a date that is less than 40 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 10th day following such public announcement.
In the case of a special meeting of shareholders
(which is not also an annual meeting), notice to the Corporation
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 Advance Notice Provision provides a clear
process for shareholders to follow to nominate directors and sets
out a reasonable time frame for nominee submissions along with a
requirement for accompanying information. The purpose of the
Advance Notice Provision is to treat all shareholders fairly by
ensuring that all shareholders, including those participating in a
meeting by proxy rather than in person, receive adequate notice of
the nominations to be considered at a meeting and can thereby
exercise their voting rights in an informed manner. In addition,
the Advance Notice Provision should assist in facilitating an
orderly and efficient meeting process.
By-Law 2014-1 will be placed before shareholders
at the next annual and special meeting of shareholders of the
Corporation scheduled for February 26,
2014. A copy of the By-Law will be filed under the
Corporation's profile at www.sedar.com.
Neither 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.
This press release contains "forward-looking
information" which is subject to a variety of known and unknown
risks, uncertainties and other factors which could cause actual
events or results to differ from those expressed or implied by the
forward-looking information.
SOURCE ABE Resources Inc.