Mood Media announces board approval of advance notice by-law
TORONTO, May 24, 2013 /CNW/ - Mood Media Corporation (ISIN: CA61534J1057) (TSX:
MM / LSE AIM: MM) ("Mood Media" or the "Corporation") announced today the
approval and adoption by its board of directors (the "Board") of an advance
notice by-law (the "By-Law"), the purpose of which is to require advance notice
be provided to the Corporation in circumstances where nominations of persons
for election to the Board are made by shareholders of the Corporation.
The purpose of the By-Law is to provide shareholders, directors and management
of the Corporation with a clear framework for nominating directors. Among other
things, the By-Law fixes a deadline by which holders of common shares of the
Corporation must submit director nominations to the Corporation prior to any
annual or special meeting of shareholders and sets forth the minimum
information that a shareholder must include in the notice to the Corporation
for the notice to be in proper written form.
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 Corporation 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 By-Law is effective immediately and will be placed before shareholders for
confirmation, approval and ratification at the next annual and special meeting
of shareholders of the Corporation to be held on June 25, 2013.
The full text of the By-Law is available on www.sedar.com.
About Mood Media Corporation
Mood Media Corporation (TSX:MM/ LSE AIM:MM), is one of the world's largest
designers of in-store consumer experiences, including audio, visual,
interactive, scent, voice and advertising solutions. Mood Media's solutions
reach over 150 million consumers each day through 570,000 subscriber locations
in over 40 countries throughout North America, Europe, Asia and Australia.
Mood Media Corporation's client base includes more than 850 U.S. and
international brands in diverse market sectors that include: retail, from
fashion to financial services; hospitality, from hotels to health spas; and
food retail, including restaurants, bars, quick-serve and fast casual dining.
Our marketing platforms include 77% of the top 100 retailers in the United
States and 100% of the top 50 quick-serve and fast-casual restaurant companies.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. The words "believe",
"expect", "anticipate", "estimate", "intend", "may", "will", "would" and
similar expressions and the negative of such expressions are intended to
identify forward-looking statements, although not all forward-looking
statements contain these identifying words. These forward-looking statements
are subject to important assumptions, including without limitation, expected
growth, results of operations, performance, and business prospects and
opportunities. While Mood Media considers these factors and assumptions to be
reasonable based on information currently available, they may prove to be
incorrect. Known and unknown factors could cause actual results to differ
materially from those projected in the forward-looking statements. Such factors
include, but are not limited to: the impact of general market, industry, credit
and economic conditions, currency fluctuations as well as the risk factors
identified in Mood Media's management discussion and analysis dated March 27,
2013 and Mood Media's annual information form dated March 28, 2013, both of
which are available on www.sedar.com. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking statements. All
of the forward-looking statements made in this press release are qualified by
these cautionary statements and other cautionary statements or factors
contained herein, and there can be no assurance that the actual results or
developments will be realized or, even if substantially realized, that they
will have the expected consequences to, or effects on, Mood Media.
Forward-looking statements are given only as at the date hereof and Mood Media
disclaims any obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable laws.
SOURCE: Mood Media Corporation
For further information:
Contact:
Randal Rudniski
Mood Media Corporation
Tel: +1 (416) 565 9295
Email: randal.rudniski@moodmedia.com
(MM.)
END
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