Advance Notice Policies on the Rise
|Lawyer||Jonathan Feldman, Neill May|
|Area||Corporate Finance and Securities, Shareholder Rights and Activism|
As shareholder activism increases in Canada, the mechanics of proxy disputes are becoming increasingly refined and more frequently tested. In the recent decision of Northern Minerals Investment Corp. v. Mundoro Capital Inc., 2012 BCSC 1090, the Supreme Court of British Columbia considered two of the tools used by issuers in connection with proxy contests:
- the implementation of an “advance notice policy”, and
- the postponement of a shareholder meeting.