Lara Adopts Advance Notice Policy and Appoints New President
April 28 2014 - 4:13PM
Marketwired
Lara Adopts Advance Notice Policy and Appoints New President
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 28, 2014) - Lara
Exploration Ltd. (TSX-VENTURE:LRA) announces the adoption by its
Board of Directors of an Advance Notice Policy in respect of the
election of directors.
Advance Notice Policy
The purpose of the Policy is to provide shareholders, directors
and management of the Company with a clear framework for nominating
persons for election as directors of the Company. No person will be
eligible for election unless nominated in accordance with the
Policy.
The Policy was adopted to further the Company's commitments to:
(i) facilitating an orderly and efficient annual general or, where
the need arises, special meeting, process; (ii) ensuring that all
shareholders receive adequate notice of the director nominations
and sufficient information regarding all director nominees; and
(iii) allowing shareholders to register an informed vote after
having been afforded reasonable time for appropriate
deliberation.
The Policy requires advance notice to the Company where
nominations of persons for election to the Board of Directors are
made by shareholders. The Policy fixes a deadline by which
nominations of potential directors 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.
For annual general meetings of shareholders, notice to the
Company of nominations of potential directors must be made not less
than 35 days and not more than 60 days prior to the date of the
meeting but if the annual meeting is to be held on 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 such public announcement.
For special general meetings of shareholders called for the
purpose of electing directors (whether or not called for other
purposes), notice to the Company of nominations of potential
directors 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.
Pursuant to the terms of the Policy, the Company will seek
shareholder ratification of the Policy at its next annual general
meeting of shareholders, which has been called for May 28, 2014.
The Company also intends to formalize the Policy by incorporating
its terms into its Articles, subject to obtaining shareholder
approval at that meeting.
The full text of the Policy is available under the Company's
profile at www.sedar.com and on the Company's website
(www.laraexploration.com).
Appointment of new President
Lara also announces that Miles Thompson has replaced Andre
Gauthier as President of the Company. Andre will continue as a
member of the Board of Directors of the Company and remain involved
in the Company's business development in Peru and the Andean
Region.
About Lara
Lara is an exploration company following the Prospect Generator
business model, which aims to minimize shareholder dilution and
financial risk by generating prospects and then exploring them in
joint ventures funded by partners. The Company currently holds a
diverse portfolio of prospects and deposits in Brazil, Peru,
Colombia and Chile. Lara's common shares trade on the TSX Venture
Exchange under the symbol "LRA".
Neither the TSX
Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
Lara Exploration Ltd.Chris MacINtyreVP Corporate Development+1
416 7603 0010www.laraexploration.com
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