Re: Milestone, Remember Proposed SEC Rule 14a-11?
posted on
Aug 19, 2010 04:41PM
On the bright side, there's always the upcoming 3% Rule, which if satisfied will guarantee a place on the proxy http://agoracom.com/ir/patriot/forums/discussion/topics/435983-rule-14a-8-j-exclusion-of-stockholder-proposal/messages/1425779#message
As proposed, a company would be subject to Rule 14a-11 unless applicable state law or a company’s governing documents prohibits shareholders from nominating candidates for the board of directors. When a company’s governing documents do prohibit nomination rights, shareholders who want to amend the provision may seek to do so by submitting a shareholder proposal.
(ii) For accelerated filers as defined in §240.12b-2, and investment companies registered under the Investment Company Act of 1940 with net assets of $75 million or more but less than $700 million, at least 3% of the registrant’s securities that are entitled to be voted on the election of directors at the annual meeting of shareholders (or a special meeting in lieu of the annual meeting); . . . Be well