VANCOUVER, British Columbia, Dec. 20, 2012 /PRNewswire/ -- St. Elias Mines (SLI-TSX-V) today announced that the Supreme Court of British Columbia has granted an order dismissing a petition of dissident shareholders Gilby Len Hastman and Darcy Kim Hastman.
The Court dismissed the dissidents' application to have article 14.10 of the Company's articles found to be inoperative or of no effect for the upcoming AGM. As a result, any election of two of the Hastmans' nominees for director, James E. Rainbird and Richard Alexander Defreitas, would not be valid. The ineligibility results from the failure of the Hastmans to deposit Mr. Rainbird's and Mr. Defreitas' consents to act as director within the time frame established by the Articles of St. Elias.
"We believe the Court made the right decision today," said Lori McClenahan, President and CEO. "We continue to urge shareholders to vote the WHITE proxy, as recommended earlier this week by ISS Proxy Advisory Services, the leading independent international corporate governance analysis and proxy advisory firm."
The Annual Special and General Meeting (the "Meeting") of St. Elias shareholders remains scheduled for December 27, 2012 at 11 am Vancouver time, as set by St. Elias. After reviewing the evidence and hearing submissions from both sides, The Court concluded that the facts did not support the dissidents' application to set aside St. Elias' Articles or delay the Meeting into 2013. Moreover, the court ordered the dissidents to pay St. Elias' costs.Accept the recommendation of ISS to vote the WHITE proxy ISS is the world's leading independent international corporate governance analysis and proxy advisory firm. It provides vote recommendations on more than 40,000 meetings in over 100 worldwide markets on behalf of institutional investors.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV