VANCOUVER, March 27, 2017 /CNW/ - Shareholders of Photon Control Inc. (the Company) announce today that they are calling a general meeting of shareholders of the Company to be held in Vancouver, British Columbia on Wednesday, May 3, 2017 at 10:00 a.m. (Vancouver time) (the Meeting). The Meeting is being called pursuant to section 167(8) of the Business Corporations Act (British Columbia) (the Act) by shareholders who have validly requisitioned this Meeting.
The record date for determining shareholders of the Company who are entitled to receive notice of and to vote at the Meeting will be set for 5:00 p.m. on Tuesday, March 28, 2017, pursuant to section 171(3)(a)(i) of the Act.
The Meeting will be held to consider the business set forth in the requisition dated March 3, 2017 in which shareholders representing over 8% of the outstanding shares of the Company proposed resolutions removing each of Messrs. Joseph Litner, Robert Breault and Michael Goldstein as directors of the Company, setting the size of the board of directors at five (5) and electing Messrs. Scott Edmonds and Charles (Chuck) Cargile as directors of the Company to hold office with existing directors Neil McDonnell, chair of the board of directors, Ronan McGrath, chair of the audit committee and Michael Torok, until the next annual general meeting of shareholders.
The requisitioning shareholders include Messrs. McDonnell and McGrath and significant shareholders PenderFund Capital Management Ltd. and JEC II Associates, LLC.
A detailed information circular setting forth the reasons for the Meeting, the background in respect of same and full details and biographies of the proposed director nominees will be sent to all shareholders in due course, and well in advance of the Meeting to permit shareholders to make a reasoned decision in respect of the proposed resolutions. The notice of meeting will be sent in due course and in the manner provided under the Act to all registered shareholders of the Company.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Shareholders of Photon Control Inc.