TORONTO, March 14, 2013 /CNW/ - AlarmForce Industries Inc. (TSX:AF) (the "Corporation") is pleased to announce that its board of directors has approved the
adoption of an advance notice by-law (the "By-law") on March 12, 2013,
which requires advance notice to the Corporation in circumstances where
nominations of persons for election as a director of the Corporation
are made by shareholders other than pursuant to: (i) a requisition of a
meeting made pursuant to the provisions of the Canada Business Corporations Act (the "Act"); or (ii) a shareholder proposal made pursuant to the provisions of
Among other things, the By-law fixes a deadline by which shareholders
must submit a notice of director nominations to the Corporation prior
to any annual or special meeting of shareholders where directors are to
be elected and sets forth the information that a shareholder must
include in the notice for it to be valid.
In the case of an annual meeting of shareholders, notice to the
Corporation must be made not less than 30 nor 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 (which is not also an
annual meeting), notice to the Corporation 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 By-law is effective immediately. At the next meeting of
shareholders, shareholders will be asked to confirm and ratify the
By-law. A copy of the By-law has been filed and is available under the
Company's profile at www.sedar.com.
The Corporation believes that adopting the By-law is considered to be
good corporate governance. The By-law facilitates an orderly and
efficient annual or special meeting process and it ensures that all
shareholders receive adequate notice of director nominations with
sufficient information with respect to all nominees. This allows the
Corporation and its shareholders to evaluate the proposed nominees'
qualifications and suitability as directors, which further allows
shareholders to cast an informed vote for the election of directors.
AlarmForce provides security alarm monitoring, personal emergency
response monitoring and video systems to residential and commercial
subscribers throughout Canada and selected centers across the United
States. AlarmForce is a leading provider of two-way voice alarm systems
in Canada. More information about the Company's products and services
can be found at www.alarmforce.com and www.videorelay.com.
SOURCE: Alarmforce Industries Inc.
For further information:
Investors Relations Department
Tel: 416-445-2001 ext#225 Fax: 416-445-9381