|Mon Aug 19, 2013|
Sultan Minerals Announces Adoption of Advance Notice Policy and Resignation of Director
|Vancouver, BC - August 19, 2013: Sultan Minerals Inc. (TSX-V: SUL; "Sultan" "the Company") announces the approval and adoption by its Board of Directors of an advance notice policy (the "Policy"). The purpose of the Policy is to provide shareholders, directors and management of the Company with a clear framework for nominating directors of the Company. The Company is committed to: (i) facilitating an orderly and efficient annual general or, where the need arises, special meeting, process; (ii) ensuring that all shareholders receive adequate notice of the director nominations and sufficient information regarding all director nominees; and (iii) allowing shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation. The Policy is intended to further these objectives.|
The Policy, among other things, includes a provision that requires advance notice to the Company in certain circumstances where nominations of persons for election to the Board of Directors are made by shareholders of the Company. The Policy fixes a deadline by which director nominations must be submitted to the Company prior to any annual or special meeting of shareholders and sets forth the information that must be included in the notice to the Company. No person will be eligible for election as a director of the Company unless nominated in accordance with the Policy.
In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 days and not 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 the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting of shareholders called for the purpose of electing directors (whether or not called for other purposes), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
The full text of the Policy is available on the Company's website at www.sultanminerals.com or upon request by contacting the Company's Corporate Secretary, Marc Lee, at Tel: 604-628-0519.
The Policy is in effect as at the date of this news release. Pursuant to the terms of the Policy, the Company will seek shareholder ratification of the Policy at its upcoming annual general meeting of shareholders (the "Meeting"), scheduled to be held on September 23, 2013. If the Policy is not confirmed at the Meeting, the Policy will terminate and be of no further force and effect following the termination of the Meeting. Any director nominations for the Meeting must be received by the Company in compliance with the Policy no later than the close of business on August 23, 2013.
The Company also wishes to announce that Mr. Sargent Berner has resigned from the Company's Board of Directors for family and personal reasons. Mr. Berner has served on Sultan's Board of Directors for more than 15 years and has been a valuable asset to the Company.
The Company would like to thank Mr. Berner for his many years of service and his valuable contributions to the Company. We wish him every success in his future endeavors.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: firstname.lastname@example.org or email@example.com
For further information on Sultan's projects, visit www.sultanminerals.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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