Carmanah Appoints Daniel Nocente to the Board of Directors and Announces Adoption of Advance Notice Policy

VICTORIA, British Columbia–(BUSINESS WIRE)– Carmanah Technologies Corporation (TSX: CMH) (Pink Sheets: CMHXF) (“Carmanah” or the “Company“) has appointed Daniel Nocente to the Board of Directors (the ‘Board“). Mr. Nocente was most recently the Vice-Chairman of National Bank Financial (Corporate and Investment Banking) based in Vancouver B.C., Canada. Prior to joining National Bank, Mr. Nocente was Vice-Chairman and the BC Geographic Head for RBC Capital Markets. In addition, he has held positions at several other prominent investment banks in Canada. He has a BA from the University of British Columbia, Canada and an MBA from George Washington University in Washington, DC, USA.

“We are privileged to have such a wealth of experience and expertise to augment our current Carmanah board of directors,” said Robert Cruickshank, Chairman of the Carmanah Board. “I am pleased to welcome Daniel on behalf of Carmanah, and am certain he will contribute significantly towards the company executing on its growth strategy.”

The Board has recently undertaken a complete review of governance policies and procedures and approved a complete set of new governance documents. To review any of these new policies as adopted please see our Company website (www.carmanah.com).

As part of this process the Board has approved the adoption of an advance notice policy (the “Policy“) on February 14, 2013, which Policy, among other things, includes a provision that requires advance notice to the Company in circumstances where nominations of persons for election to the board of directors are made by shareholders of the Company other than pursuant to: (i) a “proposal” made in accordance with the Business Corporations Act (British Columbia) (the “Act“); or (ii) a requisition of the shareholders made in accordance with the Act. Among other things, the Policy fixes a deadline by which holders of record of common shares of Carmanah must submit director nominations to the Secretary of the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the written notice to the Secretary of the Company for an effective nomination to occur. No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.

In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting …read more
Source: FULL ARTICLE at DailyFinance