Welcome!

News Feed Item

Niko Provides Board Updates

CALGARY, ALBERTA -- (Marketwired) -- 08/13/14 -- The Board of Directors of Niko Resources Ltd. ("Niko" or the "Company") (TSX:NKO) is pleased to provide the following updates:

Appointment of New Directors

Kevin J. Clarke and Steven K. Gendal have been appointed to the Board of Directors effective August 13, 2014.

Mr. Clarke has led global high performance organizations of up to 15,000 people with sales over $1 billion and manufacturing facilities across the US, Canada, and Latin America. From 2010 to 2013, Mr. Clarke was President and Chief Executive Officer of Catalyst Paper, a manufacturing company specializing in pulp and paper for newspapers, magazines and other print applications, and led the financial and operational restructuring of the company. His restructuring experience included guidance through CCAA bankruptcy protection process, reduction of debt and annual costs, and successfully improving overall productivity and performance levels. Previously, Mr. Clarke was Group President and President of Worldcolor (Quebecor World) from 1986 to 2009, where he led institutional strategic planning and strategic business development initiatives. Mr. Clarke holds a Bachelor of Science - Transportation and Logistics from Niagara University in New York.

Mr. Gendal has worked for over fourteen years at Whippoorwill Associates, Inc., an investment firm specializing in distressed debt and special situations, and is currently the co-portfolio manager. Previously, Mr. Gendal was a Corporate Finance Associate at Brean Murray & Company from 1999 to 2000. Mr. Gendal received a Juris Doctorate from Brooklyn Law School and has a Bachelor of Science in Finance from Syracuse University.

"Kevin and Steven bring to the Board an independent specialized set of experience, knowledge and expertise that the Company requires in the furtherance of a successful restructuring and strategic development of plans for Niko's future recovery," said Mr. Wendell W. Robinson, Chairman of the Board of the Company.

Proposed Nominees for Election as Directors at Annual General Meeting on September 11, 2014

The following nine directors will be proposed to be nominated for election as Directors of the Company at the Annual General Meeting scheduled for September 11, 2014:


--  William T. Hornaday (the Company's Chief Operating Officer and current
    director) 
--  C.J. (Jim) Cummings (current director) 
--  Conrad P. Kathol (current director) 
--  Stewart Gossen (current director) 
--  Kevin J. Clarke (current director) 
--  Steven K. Gendal (current director) 
--  Joshua Sigmon (Mount Kellett Capital Management LP) 
--  Vivek Raj (CSL Capital Management, LLC) 
--  E. Alan Knowles (formerly with Haywood Securities Inc.) 

Further details on these directors are contained in the Company's management information circular dated August 13, 2014 which will be available on SEDAR at www.sedar.com.

The following current directors will be retiring from the Board of Directors:


--  Wendell W. Robinson (Chairman of the Board of the Company) 
--  Norman M.K. Louie (Mount Kellett Capital Management LP) 
--  Charles S. Leykum (CSL Capital Management, LLC) 
--  Murray E. Hesje (former Vice President Finance and Chief Financial
    Officer of the Company) 

Adoption of Advance Notice By-Law

On August 13, 2014, the Board of Directors approved the adoption of an advance notice by-law (the "By-law"), which requires advance notice to the Company in circumstances where nominations of persons for election as a director of the Company are made by shareholders other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (Alberta) (the "ABCA"); or (ii) a shareholder proposal made pursuant to the provisions of the ABCA.

The By-law is effective immediately. At the meeting of shareholders to be held on September 11, 2014, shareholders will be asked to confirm and ratify the By-law. The full text of the By-law is contained in the Company's management information circular dated August 13, 2014 which will be available on SEDAR at www.sedar.com.

Among other things, the By-law fixes a deadline by which shareholders must submit a notice of director nominations to the Company prior to any annual or special meeting of shareholders where directors are to be elected and sets forth the information that a shareholder must include in the notice for it to be valid. In the case of an annual meeting of shareholders, notice to the Corporation must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement. In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The Corporation believes that adopting the By-law is considered to be good corporate governance. The By-law facilitates an orderly and efficient annual or special meeting process and it ensures that all shareholders receive adequate notice of director nominations with sufficient information with respect to all nominees. This allows the Corporation and its shareholders to evaluate the proposed nominees' qualifications and suitability as directors, which further allows shareholders to cast an informed vote for the election of directors.

Amendment and Restatement of By-Law No. 1

The Amended and Restated By-Law No. 1 was approved by the Board on August 13, 2014 and is intended to improve alignment of the Corporation's by-laws with the ABCA and prevailing market standards for corporate governance. It is in effect until it is confirmed, confirmed as amended or rejected by Shareholders at the meeting of shareholders to be held on September 11, 2014. The full text of the Amended and Restated By-Law No. 1 Company's management information circular dated August 13, 2014 which will be available on SEDAR at www.sedar.com.

A summary of the key differences between the previous By-Law No. 1 and the Amended and Restated By-Law No. 1 is as follows:


--  Amended and Restated By-Law No. 1 is streamlined and modernized as
    compared to the previous By-Law No. 1 because it does not repeat
    statutory requirements set out in the ABCA and the wording of some
    provisions has been simplified. 
--  Amended and Restated By-Law No. 1 aligns the director residency
    requirements to those in the ABCA; in particular, the fifty (50) percent
    Alberta residency requirements for directors set forth in By-Law No. 1
    were replaced with a twenty five (25) percent Canadian residency
    requirements for directors. 
--  Amended and Restated By-Law No. 1 recognizes and permits electronic
    communications in accordance with the current provisions of the ABCA and
    modernize references to the form of electronic communications permitted.
--  Amended and Restated By-Law No. 1 amends the quorum requirements for
    directors to align with current provisions of the ABCA. 
--  Amended and Restated By-Law No. 1 includes a provision regarding
    conflicts between the ABCA, the articles of the Corporation or any
    unanimous shareholders' agreement and the by-laws of the Corporation. 

Resignation of Director

In July 2014, the Company and Harrison A. Bubrosky mutually agreed to Mr. Bubrosky's resignation as a Director of the Company. Mr. Bubrosky had been appointed to the Board in May 2014.

Contacts:
Niko Resources Ltd.
Jake Brace
President
(403) 262-1020

Niko Resources Ltd.
Glen Valk
VP Finance & CFO
(403) 262-1020
www.nikoresources.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, drew upon his own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He also discussed the implementation of microservices in data and application integrat...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, will explore the value of Kibana 4 for log analysis and will give a real live, hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He will examine three use cases: IT operations, business intelligence, and security and compliance. This is a hands-on session that will require participants to bring their own laptops, and we will provide the rest.
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
"LinearHub provides smart video conferencing, which is the Roundee service, and we archive all the video conferences and we also provide the transcript," stated Sunghyuk Kim, CEO of LinearHub, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Updating DevOps to the latest production data slows down your development cycle. Probably it is due to slow, inefficient conventional storage and associated copy data management practices. In his session at @DevOpsSummit at 20th Cloud Expo, Dhiraj Sehgal, in Product and Solution at Tintri, will talk about DevOps and cloud-focused storage to update hundreds of child VMs (different flavors) with updates from a master VM in minutes, saving hours or even days in each development cycle. He will also...
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, will highlight the current challenges of these transformative technologies and share strategies for preparing your organization for these changes. This “view from the top” will outline the latest trends and developm...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...