East Asia Minerals Corporation (the “Company”) (TSXV:EAS) is announcing that its board of directors have adopted an advance notice policy (the “Advance Notice Policy”) regarding director elections. The purpose of the Advance Notice Policy is to provide a clear process for the shareholders, directors and management to follow when nominating directors of the Company.
The Advance Notice Policy is meant to: (i) facilitate an orderly and efficient annual general or, where the need arises, special meeting, process; (ii) ensure all shareholders receive adequate notice of the director nominations and sufficient information with respect to all nominees; and (iii) allow shareholders to register an informed vote having been afforded reasonable time for appropriate deliberation.
The Advance Notice Policy, among other things, includes a provision that requires advance notice to the Company in certain circumstances where nominations of persons for election to the board of directors are made by shareholders of the Company. This Advance Notice Policy also sets a deadline by which director nominations must be submitted to the Company prior to any annual general or special meeting of the shareholders and also sets out the required information that must be included in the notice to the Company. No person will be eligible for election as a director of the Company unless nominated in accordance with the Advance Notice Policy.
In the case of an annual general meeting of the shareholders, notice to the Company must be made not less than 30 days and not more than 65 days prior to the date of the annual general meeting. If the annual general meeting is being held on a date that is less than 50 days following the date on which the first public announcement of the meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting of shareholders (which is not also an annual general meeting) called for the purpose of electing directors, notice to the Company 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. Notwithstanding the foregoing, the board of directors may, in its sole discretion, waive any requirement of the Advance Notice Policy.
The Advance Notice Policy is effective immediately and the Company intends to seek shareholder approval to amend the Company’s articles to incorporate the provisions of the Advance Notice Policy at the Shareholder’s Meeting.
A full description of the Advance Notice Policy will be contained in the information circular to be prepared for the Shareholders’ Meeting and mailed to the Company’s shareholders. A copy of the Advance Notice Policy is available on SEDAR under the Company’s profile at www.sedar.com.
The Advance Notice Policy is now in effect and will apply in connection with the Company’s next annual general meeting (the “Shareholders’ Meeting”).
East Asia Minerals Corporation Terry Filbert, Chairman & CEO
For further information, contact Mark Sommer at 1-604-684-2183, firstname.lastname@example.org or visit the Company’s website at www.eastasiaminerals.com
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