SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : HYDUKE Capitol Resources HYD
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: john who wrote (87)10/30/1999 3:59:00 PM
From: CIMA  Read Replies (5) of 135
 
SUMMARY OF THE AGM (Formal Portion Only):

The meeting was held at The Petroleum Club in Calgary this past Thursday. As of April 30, 1999 there were 8,451,136 shares outstanding. Six of the seven directors were present and I met them all. In the formal part of the meeting, which was dispensed with rather quickly, only two resolutions of note were passed.

First, an amendment to the stock option plan was approved to comply with Toronto Stock Exchange policies. No previously issued options had been exercised by officers of the company in fiscal year 1999 and there were few outstanding (most out of the money with some expiring that way). 325,971 new options were granted to seven officers and directors of the company at .54 during 1999 and none exercised. No fees or compensation (other than options) are paid to directors. They appear to be very tight with their paper and there are no free rides.

Second, authorization was granted to issue up to 100% of the outstanding common stock (8,451,136) valued at the maximum allowable discount by the ASE, or less as determined by directors, in connection with one or more private placements by the company. This appears to position the company to pursue an acquisition should it be deemed to be in the best interests of the company and it's shareholders.

All previous directors were re-elected. The only statements of note here were that another director(s) could be added in the event of a Toronto Stock Exchange listing and/or an acquisition.

Management then did a presentation of the company and I had the opportunity to speak with officers and directors. I'll summarize the informal portion of the meeting later when I have more time. Gotta take the kids out.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News