Eco Oro Announces Annual General Meeting & Adoption of Advance Notice & Majority Voting Policies
Jakarta Capital│Crown Capital Eco Management: Environmental Scam Prevention Watch
VANCOUVER , April 10, 2013 /CNW/ - Eco Oro Minerals Corp. ("Eco Oro" or the "Company") (EOM.TO) announces that the Company will hold its Annual General Meeting (the "Meeting") of shareholders on Friday, May 10, 2013 at 9:30 a.m. (Eastern Daylight Time ) at the Westin Harbour Castle Hotel in Toronto , Ontario. All shareholders of record as of March 21, 2013 are entitled to vote at the Meeting in person or by proxy.
The Company further announces the approval by its board of directors of an advance notice policy (the "Advance Notice Policy") on March 26 , 2013. The purpose of the Advance Notice Policy is to provide shareholders, directors and management of the Company with a clear framework for nominating directors.
Among other things, the Advance Notice Policy includes a provision that requires advance notice to be given to the Company in circumstances where nominations of persons for election to the Board are made by shareholders of the Company other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the British Columbia Business Corporations Act (the "Act"); or (ii) a shareholder proposal made pursuant to the provisions of the Act. The Advance Notice Policy fixes a deadline by which director nominations must be submitted to the Company prior to any annual or special meeting of shareholders and sets forth the information that must be included in the notice to the Company in order for a nominee to be eligible for election.
In the case of an annual meeting, notice to the Company must be given no fewer than 30 nor more than 65 days prior to the date of the meeting; provided that if the meeting is to be held on a date that is fewer than 50 days after the date on which the first public announcement of the date of the meeting was made, notice may be given no later than the close of business on the 10th day following such public announcement.
In the case of a special general meeting that is not also an annual meeting, notice to the Company must be made no 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 Policy is effective as of the date it was approved. In order for the Advance Notice Policy to remain in effect following conclusion of the Meeting, it must be ratified by an ordinary resolution of the shareholders at the Meeting.
The Company also announces that the Board has adopted a majority voting policy (the "Majority Voting Policy") with respect to the election of directors in uncontested elections. In the event that a nominee receives more "withheld" than "for" votes in an uncontested election, he or she will be expected to submit to the Board his or her resignation, to take effect upon acceptance by the Board. The Board, on the recommendation of the nominating and corporate governance committee (or equivalent), will make its decision and announce it in a news release within 90 days after the shareholder meeting at which the candidacy of the director was considered.
The full text of the Advance Notice Policy and the Majority Voting Policy are available on SEDAR at www.sedar.com. Further details regarding the Meeting will be contained in a Management Information Circular that will be mailed to shareholders of the Company and filed on SEDAR in due course.
Eco Oro Minerals Corp. is a publicly-traded precious metals exploration and development company with a portfolio of projects in Colombia . Eco Oro has been focused on its wholly-owned, multi-million ounce Angostura gold-silver deposit, located in northeastern Colombia , for over 18 years during which it has invested over $220 million in the project's development and in that of the surrounding communities. Eco Oro is committed to further advancing the Angostura Underground Project in a socially and environmentally responsible manner that will be beneficial for all stakeholders.