New Millennium Iron Corp.: Announcing AGM Results

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New Millennium Iron Corp.: Announcing AGM Results

by ahnationtalk on June 29, 2015517 Views

Press Releases

CALGARY, Alberta, Canada (June 26, 2015) – New Millennium Iron Corp. (“NML” or the “Company”) (TSX: NML) (OTCQX: NWLNF) today announced the results of the Annual General and Special Meeting of the shareholders of NML held on June 25, 2015 (the “Meeting”). 9 Shareholders holding a total of 90,448,893 common shares of the Corporation were represented at the Meeting in person or proxy, representing approximately 49.96% of the total votes attached to all issued and outstanding common shares of the Corporation as of the record date on May 7, 2015.  Voting on all matters at the Meeting were conducted by ballot.

At the Meeting, all nine directors proposed for election at the Meeting were elected.  Sandip Biswas, Dibyendu Bose and Chanakya Chaudhary were elected by a majority of the votes cast by the shareholders present of represented by proxy at the Meeting.  Messrs. Biswas, Bose and Chaudhary will remain in office until the next annual meeting of the shareholders or until his successor is elected or appointed. Lee Nichols, Robert Patzelt, Dean Journeaux, John Schindler, Pierre Seccareccia and General Rick Hillier were also elected as directors of the Corporation at the Meeting.  However, a majority of the votes cast at the Meeting were withheld against each of those six individuals.

Under the terms of the Corporation’s Majority Voting Policy, any director that has more votes withheld than are voted in favour of him or her must offer their resignation to the Board, to take effect upon acceptance of the Board.  Accordingly, Messrs. Nichols, Patzelt, Journeaux, Seccareccia and Hillier offered their resignations effective upon acceptance or rejection by the Board.  In accordance with the Majority Voting Policy, the Board will, on the recommendation of the Corporate Governance and Compensation Committee or a special committee of independent directors appointed by the Board, within 90 days following the Meeting, determine whether to accept or reject any resignation offered.

Pending a determination with respect to any such resignations, the Board intends to supervise the management of the business affairs of the Corporation in ordinary course.  Management of the Corporation, including Robert Patzelt, President and Chief Executive Officer and Mark Freedman Chief Financial Officer, remain focused on the Corporation’s strategic plan.

The votes cast by shareholders present in person or represented by proxy at the Meeting for the election of directors were as follows:

VOTES FOR

VOTES WITHHELD

Lee C.G. Nichols

32.09%(13,889,907)

67.91%(29,391,579)

Robert Patzelt

32.12%(13,901,690)

67.88%(29,379,796)

Dean Journeaux

30.33%(13,127,207)

69.67%(30,154,279)

John Schindler

32.02%(13,859,507)

67.98%(29,421,979)

Pierre Seccareccia

35.66%

(15,432,740)

64.34%

(27,848,746)

General (Ret.) Rick Hillier

30.26%(13,099,040)

69.74%(30,182,446)

Sandip Biswas

76.40%(69,204,286)

23.60%(21,380,108)

Dibyendu Bose

70.31%(63,694,265)

29.69%(26,890,129)

Chanakya Chaudhary

78.78%
(71,359,183)

21.22%(19,225,211)

At the Meeting, the shareholders also approved resolutions re-appointing Raymond Chabot Grant Thornton LLP, Partnership of Chartered Professional Accountants, Montreal, Quebec, as auditors of the Corporation and the confirmation and ratification of By-law No. 1B, which amends the by-laws to support the Direct Registration System for the Corporation’s securities. The motions to approve the unallocated options issuable pursuant to the Corporation’s stock option plan and certain amendments to the Corporation’s Articles were not approved.

AB2

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