TORONTO, April 15, 2016 /CNW/ - Midpoint Holdings Ltd.
(TSXV: MPT) ("Midpoint" or the "Company") announces
that, effective on April 11, 2016,
the Board of Directors (the "Board") of the Company
appointed David Wong, the Company's
current President and CEO, as the Chairman of the Board of
Directors and, in addition, approved an advance notice policy (the
"Advance Notice Policy").
The Advance Notice Policy includes, among other things, a
provision that requires advance notice be given to the Company in
circumstances where nominations of persons for election to the
Board 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 (British Columbia) (the "Act"); or (ii)
a shareholder proposal made pursuant to the provisions of the
Act.
Additionally, the Advance Notice Policy sets 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, sets forth the information that a
shareholder must include in the notice to the Company and
establishes the form in which the shareholder must submit the
notice for that notice to be in proper written form.
In the case of an annual meeting of shareholders, notice to the
Company must be made not less than 45 days nor more than 65 days
prior to the date of the annual meeting. However, 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 tenth day following such
public announcement.
In the case of a special meeting of shareholders (which is not
also an annual meeting), notice to the Company must be made not
later than the close of business on the fifteenth day following the
day on which the first public announcement of the date of the
special meeting was made.
The Advance Notice Policy is in full force and effect as of the
date it was approved.
The full text of the Advance Notice Policy is available under
the Company's profile on SEDAR at www.sedar.com.
Neither the 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.
About Midpoint
Headquartered in London,
Midpoint is an FCA authorised payments institution with the world's
first authentic peer-to-peer ('P2P') foreign exchange marketplace.
SMEs, overseas professionals, property owners, foreign students,
individuals and anyone involved in international payments, use
Midpoint's US patent protected platform for transparent,
multi-party, multi-currency services.
Midpoint is currently handling transactions in 17 countries with
the ability to collect and transfer across 72 countries. This
highly secure platform provides customers with the most
cost-effective FX at the midpoint of the interbank buy/sell rate
therefore removing the spread as well as hidden costs and fees.
Midpoint Holdings Limited is listed on the TSX Venture Exchange
and cross-listed on the Frankfurt Stock Exchange.
This news release contains certain "forward-looking
information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "may", "will", "would", "potential",
"proposed" and other similar words, or statements that certain
events or conditions "may" or "will" occur. These statements are
only predictions. Forward-looking information is based on the
opinions and estimates of management at the date the information is
provided, and is subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking
information. For a description of the risks and uncertainties
facing Midpoint and its business and affairs, readers should refer
to Midpoint's Management's Discussion and Analysis. Midpoint
undertakes no obligation to update forward-looking information if
circumstances or management's estimates or opinions should change,
unless required by law. The reader is cautioned not to place undue
reliance on forward-looking information.
SOURCE Midpoint Holdings Ltd.