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
--  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.

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

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

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
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, will discuss the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docke...
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, will contrast how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He will show the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He will also have live demos of building immutable pipe...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, you'll learn about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how Docke...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...