Leading Independent Advisory Firm Recommends Shareholders Vote FOR all Banro Director Nominees
June 16 2014 - 8:00AM
Marketwired
Leading Independent Advisory Firm Recommends Shareholders Vote FOR
all Banro Director Nominees
- Shareholders Are Urged to Vote BLUE Proxy
TORONTO, ONTARIO--(Marketwired - Jun 16, 2014) - Banro
Corporation ("Banro" or the "Company") (NYSEMKT:BAA)(TSX:BAA)
announced today that Institutional Shareholder Services Inc.
("ISS") has recommended that Banro's shareholders vote FOR all of
management's director nominees using only Banro's BLUE proxy. ISS has also
recommended that shareholders NOT vote the green dissident proxy of
Liberty Street Capital Corp.
ISS is a leading independent international corporate governance
analysis and proxy voting firm. ISS recommendations are intended to
assist shareholders in making choices regarding proxy voting
decisions. In making its recommendations, ISS carefully considers
the validity of the arguments and the outcome that is in the best
interests of shareholders.
ISS stated that, "Liberty Street Capital Corp and Noam Franklin,
which together hold 11,000 shares of BAA stock, are seeking
shareholder approval to replace six incumbent directors and elect
eight dissident nominees in their place. They have not made a
compelling case that a change to the composition of the board is
needed. Shareholder support for the management slate, therefore, is
warranted."
ISS also noted that, "There are also early signs of operational
progress: year over year gold production increased by 16% at
Twangiza, the Namoya plant was brought online, and the company
successfully raised capital in February under difficult conditions.
Though the company still faces a number of challenges ahead, it is
unclear what else a new board or management team would do that the
current board has not done. The dissidents, therefore, have not
made a compelling case that a change to the composition of the
board is necessary at this time."
Protect
your investment |
- Vote
your BLUE proxy today to ensure the Company stays on track - |
We urge you - our valued shareholder - to protect your
investment and reject Liberty Street's attempt to take control of
your company.
Regardless of how many shares you own, your vote is important in
order to send a message to Liberty Street that you support the
current Board and the Company's bright future. It is crucial that
you vote your BLUE
proxy today. If you have already voted, you can still change your
vote, simply by voting your BLUE proxy today. Your later
dated BLUE proxy
will replace any prior dated green proxy you may have voted and
will count.
Your support is critical to delivering on our plans and we ask
you to support all resolutions at the meeting. If you have any
questions or need assistance in voting your proxy, please contact
our proxy solicitor, Kingsdale Shareholder Services, toll free in
North America (1-866-851-3214) or call collect from outside North
America at (416-867-2272) or by email at
contactus@kingsdaleshareholder.com.
For further information contact:
Kingsdale Shareholder Services; toll free in North America
(1-866-851-3214) or call collect outside North America at
(416-867-2272).
Banro Corporation is a Canadian gold mining company
focused on production from the Twangiza mine, which began
commercial production September 1, 2012, and completion of its
second gold mine at Namoya, located approximately 200 kilometres
southwest of the Twangiza gold mine. The Company's longer term
objectives include the development of two additional major,
wholly-owned gold projects, Lugushwa and Kamituga. The four
projects, each of which has a mining license, are located along the
210 kilometre long Twangiza-Namoya gold belt in the South Kivu and
Maniema provinces of the Democratic Republic of the Congo (the
"DRC"). Led by a proven management team with extensive gold and
African experience, the initial focus of the Company is on the
mining of oxide material, which has a low capital intensity to
develop but also attracts a lower technical and financial risk to
the Company. All business activities are followed in a socially and
environmentally responsible manner.
For further Banro information, please visit www.banro.com and
follow the Company on Twitter @banrocorp.
Naomi NemethInvestor Relations+1 (416) 366-9189+1-800-714-7938,
Ext. 2802info@banro.com
BAA (AMEX:BAA)
Historical Stock Chart
From Aug 2024 to Sep 2024
BAA (AMEX:BAA)
Historical Stock Chart
From Sep 2023 to Sep 2024