Sultan Minerals Announces Adoption of Advance Notice Policy and Resignation of Director
August 19 2013 - 4:08PM
Access Wire
Vancouver, BC - August 19, 2013: Sultan
Minerals Inc. (TSX-V: SUL; "Sultan" "the Company") announces
the approval and adoption by its Board of Directors
of an advance notice policy (the "Policy"). The purpose of
the Policy is to provide shareholders, directors and management of
the Company with a clear framework for nominating directors of the
Company. The Company is committed to: (i) facilitating an orderly
and efficient annual general or, where the need arises, special
meeting, process; (ii) ensuring that all shareholders receive
adequate notice of the director nominations and sufficient
information regarding all director nominees; and (iii) allowing
shareholders to register an informed vote after having been
afforded reasonable time for appropriate deliberation. The Policy
is intended to further these objectives.
The Policy, among other things,
includes a provision that requires advance notice to the Company in
certain circumstances where nominations of persons for election to
the Board of Directors are made by shareholders of the Company. The
Policy fixes a deadline by which director nominations must be
submitted to the Company prior to any annual or special meeting of
shareholders and sets forth the information that must be included
in the notice to the Company. No person will be eligible for
election as a director of the Company unless nominated in
accordance with the Policy.
In the case of an
annual meeting of shareholders, notice to the Company must be made
not less than 30 days and not more than 65 days prior to the date
of the annual meeting; provided, however, that, 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 called for the purpose of electing
directors (whether or not called for other purposes), notice to the
Company 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 full text of the
Policy is available on the Company's website at www.sultanminerals.com or
upon request by contacting the Company's Corporate
Secretary, Marc Lee, at Tel:
604-628-0519.
The Policy is in
effect as at the date of this news release. Pursuant to the terms
of the Policy, the Company will seek shareholder ratification of
the Policy at its upcoming annual general meeting of shareholders
(the "Meeting"), scheduled to
be held on September 23, 2013. If the Policy is not confirmed at
the Meeting, the Policy will terminate and be of no further force
and effect following the termination of the Meeting. Any director
nominations for the Meeting must be received by the Company in
compliance with the Policy no later than the close of business on
August 23, 2013.
The Company also wishes to announce that
Mr. Sargent Berner has resigned from the Company's Board of
Directors for family and personal reasons. Mr. Berner has served on
Sultan's Board of Directors for more than 15 years and has been a
valuable asset to the Company.
The Company would like to thank Mr. Berner for his many
years of service and his valuable contributions to the Company. We
wish him every success in his future endeavors.
Arthur G. Troup,
P.Eng., Geological
President and CEO
For further
information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: mlee@sultanminerals.com
or info@sultanminerals.com
For further
information on Sultan's projects, visit www.sultanminerals.com.
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.