Ballard Encourages Securityholders to Vote Their Shares
05 December 2008 - 8:16AM
PR Newswire (US)
Leading Proxy Advisor Recommends Securityholders Vote For Special
Resolution VANCOUVER, Dec. 4 /PRNewswire-FirstCall/ -- Ballard
Power Systems (TSX: BLD; NASDAQ: BLDP) today announced that
RiskMetrics Group (formerly Institutional Shareholder Services or
ISS), the leading independent proxy advisory firm for institutional
investors involved in proxy voting matters, has issued a report
recommending that securityholders vote FOR the special resolution
regarding the Plan of Arrangement with Superior Plus Income Fund
(TSX: SPF.UN)(http://www.superiorplus.com/). In addition,
RiskMetrics recommends shareholders vote FOR the ordinary
resolution amending Ballard's share distribution and stock options
plans. In recommending a vote FOR the special resolution relating
to the Plan of Arrangement, RiskMetrics concluded that there will
be no change to Ballard's business other than the net gain of $41
million Canadian in funds received and that the transaction has no
significant governance concerns. The RiskMetrics report states that
shareholder support is warranted. A special meeting of Ballard
Power System's securityholders will be held at 1:00 p.m. (Pacific
time) on December 18, 2008 at the Hilton Vancouver Metrotown, 6083
McKay Avenue, Burnaby, British Columbia. Ballard encourages all
securityholders to cast their votes promptly, according to the
directions contained on their proxy card or voting instruction
form, to ensure that votes are counted in the tabulation prior to
the special meeting. If securityholders have questions about the
resolutions or need assistance voting their shares, they may call
D.F. King & Co., Inc., who is assisting the Company in the
solicitation, toll-free at 1-888-887-1266 (North America) or
collect at (212) 269-5550. Ballard has filed a Management
Information Circular relating to its December 18, 2008 special
meeting of securityholders with the appropriate Canadian and U.S.
securities regulators. This document is available on
http://www.sedar.com/, http://www.sec.gov/edgar.shtml and on
Ballard's website, http://www.ballard.com/. Securityholders are
urged to read the Management Information Circular and all documents
referenced in the Management Information Circular, as they contain
important information. About Ballard Power Systems Ballard Power
Systems (TSX: BLD; NASDAQ: BLDP) is recognized as a world leader in
the design, development, manufacture and sale of zero-emission
hydrogen fuel cells. Ballard's mission is to make fuel cells a
commercial reality. To learn more about what Ballard is doing with
Power to Change the World(R), visit http://www.ballard.com/. This
release contains forward-looking statements that are based on the
beliefs and assumptions of Ballard's management and reflect
Ballard's current expectations as contemplated under section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such assumptions
relate to our financial forecasts and expectations regarding our
product development efforts, manufacturing capacity, and market
demand. These statements involve risks and uncertainties that may
cause our actual results to be materially different, including,
without limitation, the rate of mass adoption of our products,
product development delays, changing environmental regulations, our
ability to attract and retain business partners and customers, our
access to funding, increased competition, our ability to protect
our intellectual property, changes in our customers' requirements,
and our ability to provide the capital required for product
development, operations and marketing. Readers should not place
undue reliance on Ballard's forward-looking statements and Ballard
assumes no obligation to update or release any revisions to these
forward looking statements. For a detailed discussion of the risk
factors that could affect Ballard's future performance, please
refer to our most recent Annual Information Form. Ballard, the
Ballard logo and Power to Change the World are registered
trademarks of Ballard Power Systems Inc. DATASOURCE: Ballard Power
Systems Inc. CONTACT: or to arrange an interview with a Ballard
spokesperson, please call: Amy Harada Bradley, Ballard Power
Systems, (604) 412-7913,
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