DENVER, CO,
July 16, 2014 /PRNewswire/ - Intermap
Technologies (TSX:IMP), (ITMSF:BB), a leading provider of
location-based solutions, announced today that its Board of
Directors has approved the adoption of an advance notice by-law
(the "Advance Notice By-law"), which requires advance notice
to Intermap in circumstances where nominations of persons for
election to the Board are made by shareholders other than pursuant
to a requisition of a meeting made pursuant to the provisions of
the Business Corporations Act (Alberta) ("ABCA") or a shareholder
proposal made pursuant to the provisions of the ABCA.
Among other things, the Advance Notice By-law
fixes a deadline by which shareholders must submit a notice of
director nominations to Intermap prior to any annual or special
meeting of shareholders where directors are to be elected and sets
forth the information that a shareholder must include in the notice
for it to be valid. In the case of an annual general meeting
of shareholders, notice to the Chief Executive Officer of Intermap
must be made not less than 30 nor more than 65 days prior to the
date of the annual general meeting of shareholders; provided,
however, that in the event that the annual general meeting of
shareholders is called for at a date that is less than 50 days
after the date (the "Notice Date") on which the first public
announcement of the date of the annual meeting was made, notice by
the nominating shareholder must be given not later than the close
of business on the tenth (10th) day following the Notice
Date. In the case of a special meeting (which is not also an
annual general meeting) of shareholders called for the purpose of
electing directors (whether or not called for other purposes),
notice to the Chief Executive Officer of Intermap must be made not
later than the close of business on the fifteenth (15th) day
following the date on which the first public announcement of the
date of the special meeting of shareholders was made.
The purpose of the Advance Notice By-law is to
foster a variety of interests of the shareholders and Intermap by
ensuring that all shareholders, including those participating in a
meeting by proxy rather than in person, receive adequate notice of
the nominations to be considered at a meeting and can thereby
exercise their voting rights in an informed manner. In addition,
the Advance Notice By-law is intended to provide a reasonable
framework for shareholders to nominate directors and should assist
in facilitating an orderly and efficient meeting process.
At the next annual general and special meeting
of shareholders of Intermap to be held on August 14, 2014, the shareholders will be asked
to confirm and ratify the Advance Notice By-law. A copy of the
Advance Notice By-law has been filed under Intermap's SEDAR profile
at www.sedar.com.
About Intermap Technologies
Headquartered in Denver, Colorado
- Intermap (www.intermap.com) is an industry leader in geospatial
solutions on demand with its secure, cloud based Orion Platform™.
Through its powerful suite of 3DBI® applications and
proprietary development of contiguous databases that fuse volumes
of geospatial data into a single source, the Orion Platform is able
to provide location-based solutions for customers in diverse
markets around the world. For more information please visit
www.intermap.com
SOURCE Intermap Technologies Corporation
