03:01:10 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Poet Technologies Inc
Symbol PTK
Shares Issued 161,198,989
Close 2014-07-10 C$ 1.79
Market Cap C$ 288,546,190
Recent Sedar Documents

Poet Tech to send AGM proxy info to shareholders

2014-07-11 16:23 ET - News Release

Mr. Michel Lafrance reports

POET TECHNOLOGIES MAILS PROXY MATERIAL

Poet Technologies Inc., with respect to the annual and special meeting of shareholders to be held in Storrs, Conn., on Aug. 12, 2014, will send proxy materials to shareholders shortly using the notice and access method. As such, registered shareholders should be receiving a proxy by mail and non-registered shareholder should be receiving a voting instruction form. PDF copies of the proxy material, which includes the notice and information circular booklet, will be filed on SEDAR and will also be available for download from the company's website. Shareholders will be able to obtain a printed copy by contacting the secretary of the company or Equity Financial Services Inc.

In addition to the usual matters to be presented at the AGM, including the appointment of auditors and election of directors, shareholders will be asked to consider an ordinary resolution to approve the stock option plan (SOP) as amended for 2014, an ordinary resolution to approve amendments to bylaw No. 1, a special resolution authorizing, subject to regulatory approval, the consolidation of the company shares on the basis of one new share for a maximum of every five preconsolidation shares, and an ordinary resolution to approve a shareholders rights plan (SRP).

The SOP was amended to bring it in line with the current TSX Venture Exchange policies, to increase the number of shares reserved under the SOP to 31,925,000 and to change the form of option agreement. The new fixed number represents about 20 per cent of the current issued and outstanding shares of the company and a net increase of 5.45 million from the 2013 SOP. An aggregate of 481,250 shares were issued pursuant to option exercises under the SOP since the last AGM held on June 21, 2013.

The purpose of the bylaw amendment is to incorporate changes required to allow the company to utilize the direct registration system (DRS) for the issuance of shares of the company. The potential benefits and risks of the consolidation are set out in the information circular. The SRP is designed to ensure fair treatment for all shareholders in the event of a takeover bid, to provide shareholders and the directors with adequate time to evaluate any bid for the company, and the opportunity to maximize shareholder value in the event of any such bid. The details of the SRP are summarized in the information circular.

The directors have approved these proposed changes as they believe they are in the best interests of the shareholders.

Non-registered shareholders wishing to attend the AGM and vote in person must appoint themselves as proxyholder and submit their voting instruction form at least 48 hours before the meeting.

Following the AGM, shareholders will, again this year, be provided with the opportunity to tour the ODIS lab facility showcasing the intricacy of the Poet breakthrough technology.

If you plan to attend the AGM and wish to stay overnight at the Nathan Hale Inn, please call it directly to make a reservation (telephone: 860-427-7888). There are a limited number of rooms being held for Poet shareholders. Identify yourself as part of the Poet group to receive the reduced rate being offered on a first-come first-serve basis.

© 2024 Canjex Publishing Ltd. All rights reserved.