Pacific Rim Adopts Advance Notice and Majority Voting Policies
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/07/13 -- Pacific
Rim Mining Corp. (TSX:PMU)(OTCQX:PFRMF) ("Pacific Rim" or the
"Company") announces the approval and adoption by its Board of
Directors of an advance notice policy (the "ANP") and a majority
voting policy (the "MVP").
Advance Notice Policy
The purpose of the ANP 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 ANP is
intended to further these objectives.
The ANP, 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 ANP 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 ANP.
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
The ANP is in effect as at the date of this news release. Pursuant to
the terms of the ANP, the Company will seek shareholder ratification
of the ANP at its upcoming annual general meeting of shareholders
(the "Meeting"), scheduled to be held on September 12, 2013. If the
ANP is not confirmed at the Meeting, it 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 ANP no later than the close of
business on August 12, 2013.
Majority Voting Policy
The purpose of the MVP is to bring the Company's policies in line
with recent amendments to the Toronto Stock Exchange Company Manual
relating to the election of directors. The MVP is in effect as at the
date of this news release.
The full text of the ANP and the MVP are available on the Company's
website (www.pacrim-mining.com) or upon request by contacting the
Company's VP Investor Relations and Corporate Secretary, Barbara
Henderson, at Tel: 604-689-1976 or firstname.lastname@example.org.
On behalf of the board of directors,
Thomas C. Shrake, President and CEO
This news release contains forward-looking statements that are
subject to a variety of risks and uncertainties, any of which could
cause actual events or results to differ from those reflected in the
forward-looking statements, including, without limitation: risks
related to the outcome of shareholder voting at the Company's
upcoming annual general meeting; and other risks and uncertainties
related to the Company's prospects, properties and business detailed
in the Company's most recent quarterly and annual report and AIF
filings. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in forward-looking
statements. Investors are cautioned against attributing undue
certainty to forward-looking statements.
The TSX has neither reviewed nor accept responsibility for the
adequacy or accuracy of this release.
Pacific Rim Mining Corp.
(604) 689-1978 (FAX)
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