Repap Enterprises inc. announces new directors
STAMFORD, CT., June 25 /CNW-PRN/ - Repap Enterprises Inc. today announced that, in light of recently expressed shareholder concern and in the interests of facilitating the resolution of issues raised by dissident shareholders, five directors have elected to resign from the Board. Effective immediately five new directors have been ppointed to replace them. The new directors are: Robert F. MacLellan, Chairman of TD Asset Management Inc.; Robert J. McGavin, Chairman and Director, Howe and Company Inc.; Glen D. Roane, retired from TD Bank and formerly a founding director of Lancaster Financial Inc.; Myron Sheinfeld, an attorney with Sheinfeld, Maley & Kay in Houston and Hap Stephen, Executive Vice President and Chief Financial Officer of the T. Eaton Company, Limited. Mr. Steven Berg and Mr. Stephen Larson will continue as directors of Repap.
These appointments have the support of TD Asset Management and EQSF
Advisors, Inc., who represent the two largest blocks of shares in the Company. The reconstituted board is expected to announce the date of the rescheduled Annual Meeting of Shareholders by July 15, 1999.
Source Repap Enterprises Inc.
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