MARKHAM, ON, March 28 /CNW/ - Pet Valu, Inc. (the "Corporation")
announced today that its Board of Directors has approved an amendment to its
by-laws adding an "advance notice" provision thereto.
This amendment, which was approved on March 27, 2008, fixes a deadline by
which holders of record of common stock of the Corporation and holders of
record of exchangeable shares of Pet Valu Canada Inc. (who are entitled to
vote at meetings of stockholders through a voting trustee) must submit
director nominations or stockholder proposals to the Corporation prior to any
annual or special meeting of stockholders.
In the case of annual meetings, advance notice must be delivered to the
Corporation not later than the close of business on the 70th day nor earlier
than the close of business on the 100th day prior to the first anniversary of
the immediately preceding annual meeting of stockholders; provided, however,
that in the event that the annual meeting is called for a date that is not
within 30 days before or after such anniversary date, notice must be delivered
not later than the close of business on the later of: (i) the 70th day prior
to such annual meeting; or (ii) the 10th day following the day on which public
announcement of the date of such meeting is first made by the Corporation.
Notwithstanding the foregoing, with respect to the upcoming meeting of
stockholders to be held on May 8, 2008, any notice delivered to the
Corporation prior to end of day on April 14, 2008 shall be deemed to have been
The amendment also sets forth, among other things, the information that a
stockholder must include in the notice to the Corporation and procedures to be
followed in regards to a special meeting of stockholders.
The full text of the by-law amendment may be viewed by viewing the
Corporation's amended by-laws in their entirety, a copy of which have been
filed this day at www.sedar.com (go to Pet Valu, Inc.).
Pet Valu is a specialty retailer and wholesaler of pet food and
pet-related supplies and a franchisor of pet food and pet-related supply
outlets. The TSX stock symbol for Pet Valu Canada Inc., the Corporation's
publicly traded Canadian operating subsidiary, is PVC.
For further information:
For further information: Michael Fitzgerald, Secretary, (905) 946-1200,