John P. A. Budreski, a Director of Alaris Royalty Corp, Disputes Glass Lewis Recommendation
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/28/15 -- John P. A. Budreski announces today that he has become aware that Glass Lewis & Co. ("Glass Lewis"), a proxy advisory firm, has recently released a report (the "Report") on Alaris Royalty Corp. ("Alaris"). In the Report, Glass Lewis makes recommendations to Alaris shareholders on how to vote on a number of proposals to be put forward at Alaris' upcoming Annual General Meeting of Shareholders. One of Glass Lewis' recommendations is for shareholders to "withhold" their vote for Mr. Budreski as a Director of Alaris.
John Budreski disputes this recommendation.
According to Glass Lewis' website: "A board member who serves as the executive of any public company in addition to serving on more than three public company boards, and all other directors who serve on more than six boards typically receive withhold recommendations from Glass Lewis"
For this single stated reason, Glass Lewis has issued the "withhold" recommendation.
John Budreski strongly recommends that a shareholder's vote to support or withhold on the nomination of a Director should be based on much more thorough and rigorous analysis than the one-criteria, simplified analysis employed by Glass Lewis. There are many other factors to be considered. Amongst a longer list of criteria, these factors could include: (i) the attendance record at the company's Board and Sub-Committee meetings by the particular Director nominee; (ii) the return to shareholders provided by the company (or companies) when the individual is a Director; (iii) whether Glass Lewis had obtained any cautioning or negative endorsement from the CEO's or Chairperson's of the particular company, or more importantly, any information whatsoever from the CEOs or Chairpersons of the particular companies. With respect to John Budreski, the following applies:
John Budreski states: "One sincerely hopes that investors will look beyond the simplified and formulaic approach employed by Glass Lewis and that investors will base their determination on whether to support or withhold on a particular Director on a broader and more rigorous assessment of the facts and the particular Director's contribution to the company.
Notice to reader: This press release was prepared by John Budreski and not by any of the companies where he serves as a Director. John Budreski does not claim that he was solely responsible for the financial performance of the companies for which he acts as a Director or Advisor. Also, he cautions that past performance cannot be taken as any assurance that future results will not differ materially. However, John Budreski believes that the return to date for these companies is worthy of note.
Contacts:
John P A Budreski
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Datum: 28.04.2015 - 19:11 Uhr
Sprache: Deutsch
News-ID 389179
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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