Pinetree Capital Ltd. Announces New By-Law
April 17 2014 - 4:05PM
Marketwired
Pinetree Capital Ltd. Announces New By-Law
TORONTO, CANADA--(Marketwired - Apr 17, 2014) - Pinetree Capital
Ltd. (TSX:PNP) announces that its board of directors has approved a
new by-law which replaces the company's previous by-laws. The new
by-law is intended to modernize certain of the company's practices
and procedures, in light of amendments to the Business
Corporations Act (Ontario) ("OBCA") and the evolution of
governance practices since the early 1990's when the previous
by-laws were made.
The new by-law includes the addition of advance notice
provisions for nominations of directors by shareholders in
circumstances other than pursuant to a requisition of a meeting or
a shareholder proposal made pursuant to the provisions of the
OBCA.
Among other things, the advance notice provisions fix a deadline
by which shareholders must submit director nominations to Pinetree
prior to an annual or special meeting of shareholders and set out
the information that a shareholder must include in the notice to
the company.
In the case of an annual meeting of shareholders, notice to the
company must be provided not less than 30 days and not more than 65
days prior to the date of the annual meeting; provided that if the
annual meeting is called for 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 10th day following the public
announcement.
In the case of a special meeting of shareholders (which is not
also an annual meeting but has been called for the purpose of
electing directors, among other purposes, if applicable), notice to
the company must be provided 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 provisions are intended to provide a clear
process for shareholders to follow for director nominations and set
out a reasonable time frame for the submissions of nominees and the
accompanying information. The provisions will help to ensure that
all shareholders receive adequate notice of the nominations to be
considered at a meeting and can thereby exercise their voting
rights in an informed manner. The provisions are similar to the
advance notice by-laws adopted by many other Canadian public
companies.
The new by-law is effective immediately but is subject to
confirmation by our shareholders at the annual and special
shareholder meeting to be held on June 5, 2014. The full text of
the new by-law is available under Pinetree's profile at
www.sedar.com.
About Pinetree
Pinetree Capital Ltd. ("Pinetree") was incorporated under the
laws of the Province of Ontario and its shares are publicly-traded
on the Toronto Stock Exchange ("TSX") under the symbol "PNP".
Pinetree is a diversified investment and merchant banking firm
focused on the small cap market. Pinetree's investments are
primarily in the following sectors: Precious Metals, Uranium and
Technology. Pinetree's investment approach is to develop a macro
view of a sector, build a position consistent with the view by
identifying micro-cap opportunities within that sector, and devise
an exit strategy designed to maximize our relative return in light
of changing fundamentals and opportunities. Pinetree is recognized
as a value added partner.
Pinetree Capital Ltd.Sheldon Inwentash, CPA, CA.Chairman &
CEO416-941-9600Pinetree Capital Ltd.Gerry Feldman, CPA, CA.CFO
& Vice President, Corporate
Development416-643-3884feldman@pinetreecapital.comInvestor
Relations:Pinetree Capital Ltd.Richard Patricio, LL.B.Vice
President, Legal and Corporate
Affairs416-941-9600ir@pinetreecapital.comPinetree Capital Ltd.130
King Street West, Suite 2500Toronto, Ontario, Canada, M5X
2A2www.pinetreecapital.com
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