Leisure Canada Announces the Results of Its Annual and Special Meeting
30 September 2011 - 10:15PM
Marketwired
Leisure Canada Inc. (TSX VENTURE:LCN) (the "Company") today
announced the results of its Annual and Special Meeting of
Shareholders (the "Meeting") held on September 26, 2011. Full
details of the meeting are set out in the Notice of Meeting and
Information Circular issued in connection with the Meeting, which
is available at www.sedar.com.
The following matters were voted on at the Meeting:
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1. Fixing the Number of Directors at Six 99.9% of the votes cast were in
(6) favour of fixing the number of
directors at six (6).
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2. Authorizing the Directors to Fix the 99.5% of the votes cast were in
Number of Directors From Time to Time favour of authorizing the
directors to fix the number of
directors from time to time.
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3. Election of Directors 99.8% of the votes cast were in
favour of the election of Ned
Goodman, Robin Conners, Brahm
Gelfand, David Oliver, Ronald
Singer and Arnold Cader as
directors of the Company to hold
office until the next annual
meeting of shareholders or until
their successors are elected or
appointed.
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4. Appointment of KPMG LLP as Auditor 99.7% of the votes cast were in
favour of the appointment of KPMG
LLP as the Company's auditor
until the next annual meeting of
shareholders or until its
successor is duly appointed.
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5. 360 VOX Transaction 99.8% of the minority votes cast
were in favour of the 360 VOX
Transaction as set out in
Appendix "B" to the Notice of
Meeting and Information Circular.
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6. Name Change 99.4% of the votes cast were in
favour of the name change to 360
VOX Corporation, subject to
regulatory approvals.
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7. Reduction in Stated Capital 99.3% of the votes cast were in
favour of the reduction of the
Company's stated capital from
$32,348,609 as at June 30, 2011
to $Nil.
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After the Meeting, the Board of Directors approved the following
appointments to serve in those capacities until the next annual
meeting of shareholders:
-- Ned Goodman as Chairman of the Board of Directors
-- Robin Conners as President and Chief Executive Officer
-- Colin Yee as Chief Financial Officer and Corporate Secretary
The following directors were appointed to the following
committees:
-- Audit Committee: Ronald Singer (Chair), Brahm Gelfand, David Oliver,
Arnold Cader
-- Compensation Committee: David Oliver (Chair), Brahm Gelfand, David
Oliver, Arnold Cader
-- Corporate Governance and Nominating Committee: Brahm Gelfand (Chair),
David Oliver, Arnold Cader, Ronald Singer
Robin Conners, the Company's President and CEO, comments, "The
Company would like to thank its shareholders for their continued
support and on behalf of myself and the Company, we welcome Arnold
Cader as the newest member of our Board of Directors. Mr. Cader's
background, including his experience with Four Seasons Hotels, will
be invaluable as we move forward."
On Behalf of the Board of Directors
Robin Conners, President and CEO
About Leisure Canada Inc.
Leisure Canada Inc. is a publicly traded company, incorporated
under the laws of Ontario and listed on the TSX Venture Exchange
under the symbol "LCN". The Company is engaged in the business of
developing hotel, resort and commercial properties in Cuba through
its wholly-owned subsidiary, Wilton Properties Ltd., in joint
venture with Grupo Hotelero Gran Caribe S.A., an agency of the
Cuban government.
For further information on the Company please visit our website
at www.leisurecanada.com. The Company's public filings, including
its most recent audited consolidated financial statements, can be
reviewed on the SEDAR website (www.sedar.com).
This news release may contain forward-looking statements and
information within the meaning of applicable securities
legislation. These forward-looking statements reflect management's
current expectations, estimates, projections, beliefs and
assumptions that were made using information currently available to
management. In some cases, forward-looking statements can be
identified by terminology such as "may", "will", "expect", "plan",
"anticipate", "believe", "intend", "estimate", "predict",
"forecast", "outlook", "potential", "continue", "should", "likely"
or the negative of these terms or other comparable terminology.
Although management believes that the anticipated future results,
performance or achievements expressed or implied by the
forward-looking statements and information are based upon
reasonable assumptions and expectations, the reader should not
place undue reliance on forward-looking statements and information
because they involve assumptions, known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company to differ materially
from anticipated future results, performance or achievements
expressed or implied by such forward-looking statements and
information.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy and
accuracy of this release.
Contacts: Marcovitch Public Relations
416-963-3222prgroup@marcovitchpr.cainfo@leisurecanada.com
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