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Matrrix Energy Technologies Inc
Symbol MXX
Shares Issued 32,184,638
Close 2015-04-29 C$ 0.50
Market Cap C$ 16,092,319
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Matrrix Energy adopts advance notice bylaw

2015-05-01 20:27 ET - News Release

Mr. Richard Ryan reports

MATRRIX ANNOUNCES ADOPTION OF ADVANCE NOTICE BY-LAW

Matrrix Energy Technologies Inc. has adopted bylaw No. 2 of the corporation, the purpose of which is to require advance notice to be provided to the corporation in circumstances where nominations of persons for election to the board are made by shareholders of the corporation other than pursuant to: (i) a requisition of a meeting of shareholders made pursuant to the provisions of the Business Corporations Act (Alberta); or (ii) a shareholder proposal made pursuant to the provisions of that act.

The purpose of the advance notice bylaw is to provide shareholders, directors and management of the corporation with a clear framework for nominating directors. Among other things, the advance notice bylaw fixes a deadline by which shareholders of the corporation must submit nominations to the corporation before any annual or special meeting of the shareholders, and sets forth the minimum information that a shareholder must include in the notice to the corporation for the notice to be in proper written form.

In the case of an annual meeting of the shareholders of the corporation, notice to the corporation must be made not less than 30 days and no more than 65 days before the date of the annual meeting; provided, however, in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.

In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the corporation must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The amended bylaws, which include the advance notice bylaw, are effective immediately and will be placed before shareholders for ratification at the next meeting of shareholders of the corporation. A copy of the advance notice bylaw can be viewed on SEDAR.

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