Additional Proxy Soliciting Materials (definitive) (defa14a)
December 05 2017 - 11:59AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934
Filed by the Registrant X
Filed by a Party other than the
Registrant [ ]
Check the appropriate box:
[ ]
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Preliminary Proxy Statement
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[ ]
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Confidential, for Use of the
Commission Only (as permitted by Rule 14a-6(e)(2))
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[X]
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Supplement to Definitive Proxy
Statement
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[ ]
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Definitive Additional Materials
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[ ]
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Soliciting Material Pursuant to
§240.14a-12
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SECURITIES DEVICES INTERNATIONAL,
INC.
(Name of Registrant as specified in its charter)
(Name of Person(s) Filing Proxy Statement), if other than
Registrant)
Payment of Filing Fee (Check the appropriate box):
[X]
No fee required.
[
] Fee computed on table below per
Exchange Act Rules 14a-6(i)(1) and 0-11.
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(1)
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Title of each class of securities to which transaction
applies:
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(2)
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Aggregate number of securities to which transaction
applies:
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(3)
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Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which
the filing fee is calculated and state how it was determined):
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(4)
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Proposed maximum aggregate value of
transaction:
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(5)
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Total fee paid:
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[
] Fee paid previously with
preliminary materials.
[ ] Check
box if any of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and
identify the filing for which the offsetting fee was paid previously. Identify
the previous filing by registration statement number, or the Form or Schedule
and the date of its filing.
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(1)
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Amount Previously Paid:
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(2)
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Form, Schedule or Registration Statement No.:
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(3)
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Filing Party:
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(4)
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Date Filed:
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SECURITY DEVICES INTERNATIONAL INC.
107
Audubon Road,
Building 2, Suite 201
Wakefield, MA 01880
_____________________________
SUPPLEMENT TO THE PROXY STATEMENT
FOR THE 2017 ANNUAL AND SPECIAL MEETING OF STOCKHOLDERS
TO BE HELD ON DECEMBER 19, 2017
_____________________________
The
following information supplements and amends the proxy statement (the Proxy
Statement) of Security Devices International Inc. (the Company we, us or
our) furnished to stockholders of the Company in connection with the
solicitation of proxies by the Board of Directors of the Company (the Board)
for the 2017 Annual and Special Meeting of Stockholders and for any adjournment
or postponement thereof (the Annual Meeting). The Annual Meeting is scheduled
to be held on December 19, 2017 at 10:00 AM EST at our corporate offices at 107
Audubon Road, Building 2, Suite 201, Wakefield, MA 01880. This Supplement to the
Proxy Statement (this Supplement) is being filed with the Securities and
Exchange Commission (the SEC) on December 4, 2017. Capitalized terms used in
this Supplement and not otherwise defined have the meaning given to such terms
in the Proxy Statement.
THE
PROXY STATEMENT CONTAINS IMPORTANT ADDITIONAL INFORMATION AND THIS SUPPLEMENT
SHOULD BE READ IN CONJUNCTION WITH THE PROXY STATEMENT.
Only
stockholders of record on the close of business on November 10, 2017 are
entitled to receive notice of and to vote at the Annual Meeting. Except as
supplemented or amended by the information contained in this Supplement, all
information set forth in the Proxy Statement remains unchanged.
By
letter dated November 30, 2017, Schwartz Levitsky Feldman LLP (Schwartz), the
Companys independent registered public accounting firm, resigned as the
Companys auditor.
The
reports of Schwartz on the Companys financial statements for the two most
recent fiscal years ended November 30, 2016 and 2015 did not contain an adverse
opinion or a disclaimer of opinion, nor were they qualified or modified as to
uncertainty, audit scope or accounting principles, other than a going concern
qualification. During the Companys two most recent fiscal years ended November
30, 2016 and 2015 and during the subsequent interim period preceding Schwartzs
resignation, there were: (i) no disagreements with Schwartz on any matter of
accounting principles or practices, financial statement disclosures or auditing
scope or procedures, which disagreements, if not resolved to the satisfaction of
Schwartz would have caused Schwartz to make reference to the subject matter of
the disagreements in connection with its reports, and (ii) no reportable events
of the type listed in paragraphs (A) through (D) of Item 304(a)(1)(v) of
Regulation S-K.
As
a result of such resignation, Schwartz will not stand for confirmation as the
Companys independent auditor at the Annual Meeting.
2
Following
the resignation of Schwartz, the Companys Audit Committee met on December 1,
2017 and selected UHY McGovern Hurley LLP of Toronto, Ontario. The Companys
Board of Directors confirmed the appointment and nominated UHY McGovern Hurly
LLP for ratification by shareholders of the Company as the Companys independent
auditors in the next fiscal year ending November 30, 2018. UHY McGovern Hurley
LLP had been contacted previously by the Companys management and agreed prior
to review by the Audit Committee to accept such appointment if confirmed by the
Audit Committee and the Board.
As
a result of the foregoing, PROPOSAL 2 before stockholders at the Annual Meeting
has been changed and is now:
To ratify the appointment of UHY
McGovern Hurley LLP as the Companys Independent Registered Public Accounting
Firm for the current fiscal year ending November 30, 2017.
OUR BOARD RECOMMENDS APPROVAL OF UHY MCGOVERN HURLEY LLP AS
THE COMPANYS INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDED NOVEMBER 30, 2017.
Changing a
Vote
You
may change your vote on any matter in the Proxy Statement at any time prior to
the vote being taken on such matter. This means that you may change your vote on
all matters in the Proxy Statement, including Proposal Two, at any time prior to
the Annual Meeting.
To
revoke your proxy instructions and change your vote if you are a holder of
record, you must (i)
send us the Revised Proxy Card (included with this
Supplement) in the enclosed envelope
; (ii) attend the Annual Meeting and
vote your shares in person; or (iii) advise our Corporate Secretary at our
principal executive office (107 Audubon Road, Building 2, Suite 201, Wakefield,
MA 01880) in writing before the proxy holders vote your shares on a particular
matter. Only your latest vote will be counted.
If
your shares are held by a broker, bank or other nominee, please contact your
broker, bank or other nominee for instructions on changing your vote.
IF
YOU HAVE ALREADY VOTED ON PROPOSAL 2 TO APPROVE SCHWARTZ LEVITSKY FELDMAN LLP
AND YOU DO NOT CHANGE YOUR VOTE TO APPROVE UHY MCGOVERN HURLEY LLP, YOUR VOTE ON
PROPOSAL 2 WILL NOT BE TABULATED AT THE ANNUAL MEETING. HOWEVER, YOU WILL BE
CONSIDERED TO BE PRESENT FOR PURPOSES OF DETERMINING WHETHER A QUORUM FOR THE
ANNUAL MEETING EXISTS.
A
vote FOR Schwartz Levitsky Feldman LLP will
not
be
counted as a vote against UHY McGovern Hurley LLP.
We
have included the enclosed Revised Proxy Card which is updated to include as
PROPOSAL 2 the ratification of UHY McGovern Hurley as the Companys independent
auditor for the year ended November 30, 2017.
If you return the enclosed Revised Proxy Card to
us with no instructions, we will vote your shares FOR ratification of UHY
McGovern Hurley LLP.
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