RiskMetrics Supports Vector's Shareholder Rights Plan
TORONTO, May 8 /CNW/ - Vector Aerospace Corporation (Vector or the
Corporation) (TSX: RNO) announced today that RiskMetrics Group (formerly ISS
Governance Services), North America's leading proxy advisory firm, recommends
that its clients support Vector's Shareholder Rights Plan by voting "FOR" the
Rights Plan at its 2009 Annual and Special Meeting of Shareholders to be held
on May 14, 2009.
RiskMetrics Group also recommends that its clients support Vector's
proposed slate of Directors.
RiskMetrics Group is North America's leading proxy advisory firm whose
recommendations are relied upon by hundreds of major institutional investment
firms, mutual funds and other fiduciaries.
"We are pleased that RiskMetrics supports our Shareholder Rights Plan and
Board nominees" said Mr. Declan O'Shea, President and CEO of Vector. "The
Shareholder Rights Plan was originally adopted by Vector Shareholders in 2006
as it was and continues to be in the best interests of the Corporation. The
Rights Plan allows the Board of Directors sufficient time to explore and
develop alternatives for maximizing shareholder value if a take-over bid is
made for the Corporation, and provides every Shareholder with an equal
opportunity to participate in such a bid."
"Vector's Shareholder Rights Plan will expire unless Shareholders vote to
continue its operation at the meeting," continued Mr. O'Shea. "We request that
all Shareholders support its continuation."
Details on the Annual and Special Meeting
The meeting is to be held at 10:00 am on Thursday May 14, 2009 at the
Metro Toronto Convention Centre, 255 Front Street West, Room 202AB, Toronto,
Shareholders unable to be present in person at the Meeting are requested
to complete and sign a form of proxy and deposit it, not later than 10:00 a.m.
(EDT) on Tuesday May 12, 2009, at the office of Computershare Investor
Services Inc., 1969 Upper Water Street, Suite 2008, Purdy's Wharf Tower II,
Halifax, NS, B3J 3R7. Proxies may also be sent by facsimile to Computershare
Investor Services Inc. at 902-420-2764.
Shareholders with any questions regarding the proposed resolutions at the
Annual and Special Meeting, including the Shareholder Rights Plan, or who
require any assistance voting, are asked to contact Kingsdale Shareholder
Services at 1-866-851-3217.
Vector is an industry-leading independent provider of maintenance, repair
and overhaul services for fixed-wing and rotary-wing aircraft operators around
the globe. Through facilities in Canada, the United States and the United
Kingdom it provides services to commercial and military customers for various
types of gas turbine engines, components and helicopter structures. Principal
operations include, Vector Aerospace Helicopter Services-North America, Vector
Aerospace Helicopter Services-UK, Vector Engine Services - Atlantic and Vector
Aerospace Engine Services - UK. Vector has approximately 2,500 employees.
For further information:
For further information: Janet Craig, Managing Director, Kingsdale
Communications, (416) 867-2315