TSX : SXI
- Management nominees are the better choice.
- Independent governance and proxy advisory firm recommends a vote for Synex's nominees.
- Vote the WHITE proxy well in advance of the deadline on November 1st, 2017 at 10 a.m. (Vancouver time).
VANCOUVER, Oct. 31, 2017 /CNW/ - The Special Committee of Synex International Inc. (TSX:SXI) (the "Company" or "Synex") encourages shareholders of Synex to elect the management nominees at the upcoming Annual General Meeting of Synex's shareholders being held on Friday, November 3, 2017. Shareholders are reminded to vote using the WHITE proxy or voting instruction form well in advance of the deadline on November 1st, 2017 at 10 a.m. (Vancouver time).
Management's nominees are the better choice. Do not be misled by Daniel Russell (the "Dissident" or "Russell"). A leading independent governance and proxy advisory firm, Glass Lewis & Co ("Glass Lewis"), agrees.
The Dissident Has No Plan
- Glass Lewis' analysis finds Daniel Russell's arguments "light on detail, lacking in context" and that Russell makes "unquantifiable promises" instead of a detailed plan, which would be expected given his intimate knowledge as a director of Synex for over 13 years.
- If Russell's hand-picked slate were to be elected and he followed through on his intention to take on a senior management role, he would be positioned to exercise "near-unilateral authority" given the influence held through himself, his spouse and his additional three hand-picked directors. Who will represent the minority shareholders?
The Dissident's Hand-Picked Nominees Lack Experience Required to Steward Synex
- Glass Lewis concludes that the dissident nominees are not a "favourable alternative". Despite Russell purporting his hand-picked slate of nominees to possess "world-class experience and expertise", an analysis of the nominees outside of himself and his spouse reveals limited industry background and no apparent public board service.
MANAGEMENT SLATE STRENGTH
Management and the management nominees have experience which is directly relevant to the business of a public company operating and developing independent power projects in British Columbia. Unlike the Dissident and certain of his nominees, management and the management slate have:
- Strong local connections, extensive industry experience and substantial public company governance experience.
- A history of successfully designing, building and operating medium-sized hydroelectric plants – a complex set of tasks that require specialized and diverse skill sets.
- Broad-based support from shareholders, unlike the Dissident's primary support from his spouse and members of his family.
The nominees listed in your WHITE proxy represent the best choice for the Company who will act in the best interests of ALL shareholders.
VOTE WHITE FOR SYNEX'S MANAGEMENT NOMINEES
Unlike the Dissidents, whose support is vastly comprised of shares held by himself, his spouse and members of his family, Synex's management nominees enjoy strong support from a broad spectrum of Synex shareholders.
Discard the dissidents' proxy or voting instruction form (voting on the dissidents' proxy or voting instruction form, even if it is against their nominees, will cancel your previous vote using Synex's WHITE proxy or voting instruction form.)
If you have already voted using the dissidents' proxy or voting instruction form, you can change your vote by simply voting using the WHITE proxy or voting instruction form. It is the later-dated proxy or voting instruction form that will be counted.
For more information, Synex Shareholders are encouraged to review in detail, Synex's letters to Shareholders and the Management Information Circular on its website at www.synex.com or under Synex's profile at www.sedar.com.
VOTE TODAY. Time is of the essence and Synex Shareholders are urged to vote online by following the instructions found on the WHITE Proxy or Voting Instruction Form to ensure votes are received in a timely manner.
SOURCE Synex International Inc.
For further information: Questions or requests for assistance with voting may be directed to Synex's proxy solicitor: North American toll-free: 1-877-452-7184; Collect calls outside North America: 1-416-304-0211; Email: [email protected]