- Mr. Koh has applied to Court to prevent director entrenchment
TORONTO, Oct. 28, 2016 /CNW/ - Mr. Tat Lee (Michael) Koh, the single largest shareholder and a director of Ellipsiz Communications Ltd.(the ("ECT" or the "Company") (TSXV: ECT), announced today that he is in the process of mailing a BLUE proxy and a proxy circular in connection with the special meeting of shareholders (the "Meeting") which will be held at 4:00 pm (Toronto time) on November 28, 2016 at Suite 4400, Brookfield Place, 181 Bay Street, Toronto, Ontario, Canada. The purpose of the Meeting is to reconstitute the Board of ECT by removing each of Elliott Jacobson, Grant Sawiak and Mark Korol as directors, and replacing them with the following independent nominees: Kean Li Wong, Long Trinh and Ian Mallmann. The record date for the Meeting is October 24, 2016. Copies of the BLUE proxy and proxy circular will also be available later today under ECT's profile at www.sedar.com.
Notwithstanding the Company's press releases of October 11, 2016 and October 4, 2016, Mr. Koh has obtained the necessary shareholder information to proceed with the Meeting. Furthermore, in order to ensure that a majority of the current Board does not continue to act in defiance of the will of shareholders, Mr. Koh has applied to the Ontario Superior Court of Justice for, among other things, a declaration confirming the validity of the Meeting.
Mr. Koh intends to take all reasonable steps to ensure that the will of the shareholders is upheld.
SOURCE Michael Koh
For further information: Michael Koh, [email protected], 8618600022263