Company: Global Railway Industries Ltd.
Stock Symbol: GBI
Listing: Toronto Stock Exchange
Outstanding Shares: 15.2 Million
Web Site: www.globalrailway.com
LONDON, ON, April 27 /CNW/ - Global Railway Industries Ltd., - (GBI:TSX):
Global Railway Industries Ltd., www.globalrailway.com, ("Global" or the
"Company"), a leading North American provider of railway products and
Global has received communications from shareholders, holding a
significant number of shares, indicating their intention to propose a
resolution at the upcoming Annual General Meeting of Shareholders on May 12,
2009, to reduce the size of the Board of Directors from seven, as currently
contemplated in the Management Information Circular, to six and to nominate
four directors to effectively replace five of the candidates identified in the
Management Information Circular. The communication claimed that sufficient
support of other shareholders was available to secure the intended result. If
these measures are successful, the Board elected at the Annual Meeting will be
comprised of six Directors of whom only two will be incumbents.
The Board will be reviewing this development and providing further
information in due course.
About Global Railway Industries: Global Railway Industries Ltd. is a
diversified rail product company serving the railway industry in North
America. Global Railway is a public company whose shares are listed for
trading on the Toronto Stock Exchange (TSX) under the symbol "GBI". For more
information: visit www.globalrailway.com or www.investorfile.com.
For further information:
For further information: Company Contact: Terry McManaman, Chairman,
President & CEO, Tel: (585) 419-9720, E-mail: firstname.lastname@example.org;
Company Contact: Phil Ogden, Lead Director, Tel: (770) 265-0689, E-mail: