|By Marketwired .||
|April 28, 2014 02:27 PM EDT||
RED DEER, ALBERTA -- (Marketwired) -- 04/28/14 -- Parkland Fuel Corporation ("Parkland" or the "Corporation") (TSX:PKI), an independent North American distributor and marketer of fuels and lubricants, today announced that it has adopted an amendment to its Restricted Share Unit Plan for eligible employees ("the Plan") to provide that the number of common shares in the capital of the Corporation (the "Shares") reserved for issuance from treasury pursuant to restricted share units credited under the plan not exceed 4% of the total issued and outstanding Shares (the "Amendment").
The Amendment is effective as of the date hereof and at the upcoming annual general and special meeting of the shareholders of the Corporation to be held at 9:00 am Mountain Time on May 6, 2014 (the "Meeting"), shareholders are asked to vote FOR the matter of business approving the unallocated restricted share units to be issued under the Plan, as modified by the Amendment.
Based on the recommendations and analysis provided in the report issued by Institutional Shareholder Services ("ISS") about the matters to be voted on at Parkland's upcoming annual general and special meeting, Parkland has made the Amendment to align with ISS' guidelines on shareholder value transfer ("SVT") in the interests of good corporate governance. The Amendment has been enacted in order to ensure that the aggregate shareholder value transfer ("SVT") under the Plan and Parkland's stock option plan (collectively, the "Compensation Plans") do not exceed the cap on SVT recommended by ISS. Parkland believes that the Amendment will reduce the SVT under the Compensations Plans, in aggregate, to be at or less than the 5% SVT cap set by ISS.
In light of the Amendment, Parkland believes it is now in compliance with ISS guidelines and encourages shareholders to vote FOR proposal 5.
About Parkland Fuel Corporation
Parkland Fuel Corporation is an independent marketer of petroleum products in North America, empowered by a continent-wide logistics, supply and trading platform. We provide motorists, businesses, consumers and wholesale customers with a safe and dependable source of gasoline, diesel, propane, lubricants, heating oil and other products through a network of locations across North America that are run by community based operators who care.
For investor and media inquiries please contact
Parkland Fuel Corporation
Director, Corporate Communications
1-800-662-7177 ext. 2533
Sep. 26, 2016 11:45 PM EDT Reads: 2,740
Sep. 26, 2016 10:45 PM EDT Reads: 403
Sep. 26, 2016 10:00 PM EDT Reads: 2,671
Sep. 26, 2016 09:45 PM EDT Reads: 2,991
Sep. 26, 2016 08:45 PM EDT Reads: 3,385
Sep. 26, 2016 08:45 PM EDT Reads: 2,157
Sep. 26, 2016 08:30 PM EDT Reads: 1,591
Sep. 26, 2016 08:00 PM EDT Reads: 2,898
Sep. 26, 2016 05:15 PM EDT Reads: 1,598
Sep. 26, 2016 05:15 PM EDT Reads: 2,616
Sep. 26, 2016 05:00 PM EDT Reads: 1,838
Sep. 26, 2016 05:00 PM EDT Reads: 2,729
Sep. 26, 2016 04:30 PM EDT Reads: 1,622
Digitization is driving a fundamental change in society that is transforming the way businesses work with their customers, their supply chains and their people. Digital transformation leverages DevOps best practices, such as Agile Parallel Development, Continuous Delivery and Agile Operations to capitalize on opportunities and create competitive differentiation in the application economy. However, information security has been notably absent from the DevOps movement. Speed doesn’t have to negat...
Sep. 26, 2016 04:30 PM EDT Reads: 2,124
Sep. 26, 2016 04:15 PM EDT Reads: 1,038