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by Mike Caswell

St. Elias Mines Ltd.'s chairman, Lori McClenahan, was justified in rejecting 90 per cent of the proxy votes at the company's 2012 annual general meeting, a judge has ruled. The dissidents who submitted the proxies materially misrepresented their director candidates. One nominee had a regulatory history that prevented him from being a director, while another misrepresented his education, the judge has found.

The decision is a setback for a dissident group led by Alberta electrical contractor Gilby Hastman. The group, which has been attempting to replace St. Elias's board for months, went to the Supreme Court of British Columbia earlier this year asking the court to order a new AGM. The dissidents complained about the 2012 meeting, at which they had 90 per cent of the votes but lost after Ms. McClenahan rejected their proxies.

THE GRINDSTONE

Lori McClenahan

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