ZMC Agrees to Change Board of Directors
Assuming shareholders elect the persons nominated for election by management as directors of ZMC as set out in the company's management information circular, the company's board of directors has agreed that Brian Cott, Stephen Rodgers and John Wallace will resign from the board immediately following the meeting.
Immediately thereafter, the board will appoint James Kofman, Allan Gregg and Roger Hammock as directors of the company.
James Kofman is the president of JEK Capital Advice, a financial advisory firm.
Mr Gregg serves on General Motors of Canada's Advisory Board, the Bank of Montreal's Advisory Council on retirement and the board of directors of the Public Policy Forum.
Mr Hammock owns, controls or exercises direction over, directly or indirectly, 1,061,967 common shares in the capital of the company
Richard McGraw will continue to be the chair of the board of directors of the company and Ian Clifford will continue in his role of founder and vice-chair of the board of directors of the Company.
Following the meeting, James Kofman will be appointed as lead director; Brian Cott will continue to be the president and CEO of the company. The new board of directors of the company will conduct a strategic review of the company's business and operations.
Richard McGraw, chairman of the board, said: â€œFollowing discussions with certain of our shareholders, and internal discussions with the board and ZMC management, the board determined that a reconfiguration of the board was in the best interests of the company and its shareholders.â€
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