Quest Capital Corp.: Results of the Annual General Meeting, Change in Directors, Annual Grant of Options and Director Dealing
28 May 2009 - 6:11AM
Marketwired
Quest Capital Corp. (the 'Company') (TSX: QC)(NYSE Amex: QCC)(AIM:
QCC) reports on the following matters:
Results of Annual General Meeting
Following the Annual General Meeting of the Company held on May
21, 2009, the Company is pleased to announce that all of the
resolutions presented to shareholders were passed.
Changes in Directors
The Company also reports the resignation of Stephen C. Coffey,
from the Board of Directors of the Company, effective
immediately.
The Company would like to thank Mr. Coffey for his contributions
to Quest Capital over the past year and wish him continued success
in his future business endeavours.
Following the resignation of Mr. Coffey, the current Board of
the Company is comprised of Robert G. Atkinson, Brian E. Bayley, W.
David Black, Frank B. Mayer, Dale C. Peniuk, A. Murray Sinclair and
Walter M. Traub.
Pursuant to the requirements of AIM, the following is a summary
of the changes in the Board over the past two years:
Resignations
Effective April 30, 2007, Edward Mercaldo (65 years old) and
Henry Knowles (75 years old) resigned from the Board; effective
December 31, 2007, Michael Winn (45 years old) resigned from the
Board; and effective May 27, 2008, Daniel Goodman (38 years old)
resigned from the Board.
Elections
On May 27, 2008, Stephen Coffey (56 years old) was elected to
the Board. Mr. Coffey was not a director of any other public
company within the five years prior to his appointment to Quest and
he did not hold any other public company directorships at his
appointment.
On May 7, 2007, Dale C. Peniuk (47 years old) was elected to the
Board. Mr. Peniuk was a director of Corriente Resources Inc.,
EuroZinc Mining Corporation, Lundin Mining Corporation and Rainy
River Resources Ltd. within the five years prior to his appointment
to Quest and at the time of his appointment. He is currently a
director of Corriente Resources Inc., Lundin Mining Corporation,
Rainy River Resources Ltd. and Reservoir Capital Corp.
On April 30, 2007, Walter M. Traub (60 years old) was elected to
the Board. Mr. Traub was not a director of any other public company
within the five years prior to his appointment to Quest or at the
time of his appointment and currently, he is not a director of any
other public companies.
On May 27, 2008, Frank B. Mayer (65 years old) was elected to
the Board. Mr. Mayer was not a director of any other public company
within the five years prior to his appointment to Quest or at the
time of his appointment and currently, he is not a director of any
other public companies.
Annual Grant of Options
In 2007, the Board of Directors passed a resolution to annually
grant stock options to the non-executive directors of the Company
following its annual general meeting. The Company reports that
effective May 21, 2009, the Company granted options to purchase up
to 250,000 common shares to the following directors: Robert G.
Atkinson, W. David Black, Frank B. Mayer, Dale C. Peniuk and Walter
M. Traub as to 50,000 shares each. The options are exercisable at
the exercise price of $1.05 per common share for a term of five
years expiring on May 21, 2014 and vest equally over the next
twelve quarters.
Director Dealing
On May 21, 2009, Mr. A. Murray Sinclair notified the Company
that on May 20, 2009 he purchased 7,500 common shares of the
Company at $0.96 per share and on May 21, 2009, he purchased 24,500
common shares at $0.95 per share. Following the purchase of these
shares, Mr. Sinclair holds 4,305,697 shares of the Company,
representing approximately 2.86% of the issued and outstanding
share capital of the Company.
On May 22, 2009, Mr. Jim Grosdanis notified the Company that he
purchased 4,000 common shares at $1.02. Following the purchase of
these shares, Mr. Grosdanis holds 27,500 shares of the Company,
representing approximately 0.02% of the issued and outstanding
share capital of the Company.
About Quest
Quest's expertise is providing mortgages in the real estate
sector. Quest's objective is to become Canada's largest Mortgage
Investment Corporation in terms of (i) equity, (ii) loans generated
and (iii) profitability.
Contacts: Quest Capital Corp. - Contact in Canada A. Murray
Sinclair Chairman (604) 687-8378 (604) 681-4692 (FAX) Quest Capital
Corp. - Contact in Canada Brian E. Bayley President (604) 687-8378
(604) 681-4692 (FAX) www.questcapcorp.com AIM NOMAD: Canaccord
Adams Limited Contact in London Ryan Cohen +442070506765
ryan.cohen@canaccordadams.com AIM NOMAD: Canaccord Adams Limited
Contact in London Ryan Gaffney +442070506765
ryan.gaffney@canaccordadams.com
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