Company mails shareholder letter and Management proxy to shareholders
VANCOUVER, Jan. 23, 2014 /CNW/ - Monument Mining Limited (TSX-V: MMY and
FSE: D7Q1) ("Monument" or the "Company") announced today that
Institutional Shareholder Services Inc. ("ISS") has recommended that
its clients vote FOR all Monument director nominees. Monument advises
shareholders to use only the Management proxy when voting.
For its Monument recommendation, ISS reviewed public documents provided
by Management and by a dissident group that proposes its own nominees
for election at the upcoming Annual General Meeting of Shareholders.
In recommending that its clients vote FOR all Monument director
nominees, using only the Company's proxy, ISS stated:
"The company has also demonstrated reasonable improvement and progress
post financial crisis in terms of operating performance. In addition,
given that the dissident is seeking full control of the board, the
dissident plan is light in details and no alternative turnaround plan
appears to be provided other than a broad term of "Reassess the current
situation and future strategy". Finally, the fact that 5 of 6 (83%)
dissident nominees are based in Europe may raise concerns on whether
they can be fully committed to serving on a Canadian public-listed
company if the new board gets elected. In light of the above, the
dissident has not made a compelling case for change at this time. As
such, shareholder support for the dissident nominees is not warranted."
"The ISS recommendation is powerful third party endorsement from a
leading independent proxy advisor to vote FOR our director nominees
using only Monument's proxy," said George Brazier, Monument's Chairman.
"It is important that shareholders vote their proxies, regardless of
how many shares you may hold."
ISS is a leading independent international corporate governance analysis
and proxy voting firm. ISS' recommendations are intended to assist
shareholders in making choices regarding proxy voting decisions. In
making its recommendations, ISS considers the outcome that is in the
best interests of shareholders.
Monument is Mailing a Letter to Shareholders
Monument is mailing to shareholders a letter regarding the proxy contest
and an additional Management proxy. A copy of the letter has been
posted to Monument's website under AGM Documents.
Shareholders who have yet to vote should do so immediately, using only
the Management proxy, to protect the value of their investment in
Monument. Monument thanks shareholders who have already voted FOR
Monument's director nominees on the Management proxy.
Vote for Monument's incumbent board
Monument's incumbent eight-person board, which has been nominated for
re-election, intends to continue to grow the Company's profitable mines
in Malaysia and to advance its projects there and elsewhere, creating
sustainable and growing value for all shareholders.
Monument urges shareholders to vote for the incumbent board members and
allow them to continue to work for the benefit of all shareholders.
Vote the Management proxy to keep the dissident team off of the
Monument board. Don't let dissidents seize your company and take it in
YOUR VOTE IS IMPORTANT. PLEASE VOTE USING ONLY MANAGEMENT'S PROXY TODAY.
Your vote is important regardless of the number of shares you own.
Monument encourages Shareholders to read the meeting materials in
detail. A copy of the Management Information Circular is available on
the Company's website at www.monumentmining.com or on SEDAR at www.sedar.com.
The board of directors of Monument recommends that Shareholders vote IN
FAVOUR of all proposed items.
Vote today FOR Monument's board using only Management's proxy
As time is of the essence, Shareholders are encouraged to vote via the
internet or by telephone.
Registered Shareholders (shareholders who hold Monument shares in their
name and represented by a physical certificate) may vote in person at
the meeting, by mail or by using one of the following methods:
Internet: vote online at www.investorvote.com using the control number located on your proxy
Telephone: 1-866-732-8683 (toll free in Canada and US) / 312-588-4290
Facsimile: 1-866-249-7775 (toll free in Canada and US) / 416-263-9524
Beneficial Shareholders (shareholders who hold Monument shares through a
bank, broker or other intermediary) will have different voting
instructions and should carefully follow the voting instructions
provided to them.
Shareholders who have questions or have not received their proxy or
voting instruction form may contact the Proxy Solicitation Agent below:
Laurel Hill Advisory Group
Toll free: 1-877-452-7184 (416-304-0211 collect outside Canada and the
Monument Mining Limited (TSX-V:MMY, FSE:D7Q1) is an established Canadian
gold producer that owns and operates the Selinsing Gold Mine in
Malaysia, with production cash costs among the lowest in the world.
Its experienced management team is committed to growth and is advancing
several exploration and development projects in Malaysia, including the
100% owned, development stage, Mengapur Polymetallic Project. The
Company employs 330 people in Malaysia and is committed to the highest
standards of environmental management, social responsibility, and
health and safety for its employees and neighboring communities.
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1
"Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
This news release includes statements containing forward-looking
information about Monument, its business and future plans
("forward-looking statements"). Forward-looking statements are
statements that involve expectations, plans, objectives or future
events that are not historical facts and include the Company's plans
with respect to its mineral projects and the timing and results of
proposed programs and events referred to in this news release.
Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". The forward-looking
statements in this news release are subject to various risks,
uncertainties and other factors that could cause actual results or
achievements to differ materially from those expressed or implied by
the forward-looking statements. These risks and certain other factors
include, without limitation: risks related to general business,
economic, competitive, geopolitical and social uncertainties;
uncertainties regarding the results of current exploration activities;
uncertainties in the progress and timing of development activities;
foreign operations risks; other risks inherent in the mining industry
and other risks described in the management discussion and analysis of
the Company and the technical reports on the Company's projects, all of
which are available under the profile of the Company on SEDAR at
www.sedar.com. Material factors and assumptions used to develop
forward-looking statements in this news release include: expectations
regarding the estimated cash cost per ounce of gold production and the
estimated cash flows which may be generated from the operations,
general economic factors and other factors that may be beyond the
control of Monument; assumptions and expectations regarding the results
of exploration on the Company's projects; assumptions regarding the
future price of gold of other minerals; the timing and amount of
estimated future production; the expected timing and results of
development and exploration activities; costs of future activities;
capital and operating expenditures; success of exploration activities;
mining or processing issues; exchange rates; and all of the factors and
assumptions described in the management discussion and analysis of the
Company and the technical reports on the Company's projects, all of
which are available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE: Monument Mining Limited
For further information:
FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact:
Laurel Hill Advisory Group Toll free T: 1-877-452-7184 (416-304-0211 collect outside Canada and the US).
Wolfgang Seybold, Axino AG-Europe T: +49 711-2535-92 40