NATCHEZ, Miss., June 27, 2016 /CNW/ -- KFG Resources Ltd
("KFG Resources" or the "Company") today announced that its Board
of Directors has adopted an advance notice policy regarding the
nomination of directors (the "Advance Notice Policy"). The purpose
of the Advance Notice Policy is to provide shareholders, directors
and management of the Company with a clear framework for nominating
directors of the Company.
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. The
Advance Notice Policy fixes a deadline by which such director
nominations 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. 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 meeting of 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 meeting; provided, however,
that, in the event that 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.
In the case of a special meeting of shareholders called for the
purpose of electing directors (whether or not called for other
purposes), 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.
The full text of the Advance Notice Policy is available on SEDAR
at www.sedar.com. The Advance Notice Policy is effective and
in full force and effect as of the date it was approved by the
Board of Directors on June 20,
2016.
The Company's common shares are listed on the TSX Venture
Exchange, Vancouver, B.C., trading
symbol "KFG". The TSX Venture Exchange has not reviewed and
does not accept responsibility for the accuracy of this
release.
SOURCE KFG Resources Ltd