Advance Notice Policies on the Rise, Corporate Governance Report

Article originally published in the Corporate Governance Report, March 2013

Excerpt from "Advance Notice Policies on the Rise":

As shareholder activism increases in Canada, the mechanics of proxy disputes are more frequently tested, while becoming increasingly refined.  In the recent decision of Northern Minerals Investment Corp. v. Mundoro Capital Inc., 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.