CALGARY, ALBERTA -- (Marketwired) -- 05/24/13 -- Alexander Energy Ltd. (TSX VENTURE: ALX) (the "Company") announced today the Board of Directors has determined to re-schedule the annual general and special meeting of shareholders from Thursday, June 6, 2013 to Wednesday, August 14, 2013.
The Company also announce the approval by its board of directors (the "Board of Directors") of an amendment to the By-Laws of the Company (the "By-Law"), which among other things, includes a provision that requires advance notice to the Company in circumstances where nominations of person for election to the Board of Directors are made by shareholders of the Company other than pursuant to (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (Alberta) (the "Act"); or (ii) a shareholder proposal made pursuant to the provisions of the Act.
The By-Law provides for a deadline by which holders of record of common shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets for the information that a shareholder must include in the notice to the Company for the notice to be in the proper written form. Notice to the Company must be made not less than 35 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
The Act requires that amended by-laws are to be submitted to the shareholders of a corporation for confirmation, amendment or rejection at the next scheduled meeting of shareholders. In order to accommodate this requirement, and other notice requirements under the Act, the Board of Directors re-scheduled the annual general and special meeting of shareholders to August 14, 2013.
The full text of the By-Law is available via SEDAR at www.sedar.com.
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Contacts:
Alexander Energy Ltd.
Hugh M. Thomson
Vice-President Finance and Chief Financial Officer
(403) 523-2505
(403) 264-1348 (FAX)
hughthomson@alexanderenergy.ca
www.alexanderenergy.ca
