Re: AGM is coming soon and share price is still $.20
in response to
by
posted on
Jul 23, 2012 09:21PM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
As I recall last year we voted for Tina Whyte and Murry Braucht as directors. Our options were to vote "for" or "withhold". We need to review our bylaws as I do not believe we have any power to vote "against" Directors.
Some statements that I found under a different company online...
Each company must disclose how "abstain" or "withhold" votes affect an election in its proxy statement. This information is often found toward the beginning of the proxy statement under a heading such as "Votes Required to Adopt a Proposal" or "How Your Votes Are Counted."
If a director runs unopposed, he or she only needs one vote to be elected, so an "against" vote is meaningless. Because of this, shareholders have the option to express dissatisfaction with a candidate by indicating that they wish to "withhold" authority to vote their shares in favor of the candidate. A substantial number of "withhold" votes will not prevent a candidate from getting elected, but it can sometimes influence future decisions by the board of directors concerning director nominees.