MONTREAL, April 21, 2015 /PRNewswire/ - Montrusco Bolton Investments Inc. ("MBI") confirmed today that it requested the addition of four items to the agenda (the "Proposals") of the next annual general meeting of shareholders ("AGM") of Primero Mining Corp. ("Primero" or the "Company") to be held in Toronto on May 6, 2015.
Montrusco Bolton and Primero Mining have put forth a number of proposals aimed at improving corporate governance and relations between the corporation and its shareholders. Moreover, Montrusco Bolton would like to congratulate the members of Primero's Board for going above and beyond by implementing new by-laws, namely board diversity. Montrusco Bolton is of the opinion that Primero Mining is setting new standards for good corporate governance within the Canadian mining sector.
The Proposals are:
- Compensation Clawback Provision
- Minimum Share Ownership for CEO
- Anti-Hedging Proposal
- Rechtsstaat Standards for International Investments
Discussions with management were very constructive and resulted in the support of three of our proposals, namely the Compensation Clawback Provision, a Minimum Share Ownership for the CEO and an Anti-Hedging Proposal. We still maintain the Rechtsstaat Standards for International Investments proposal in order to prevent the Company from poor investments in sub-investment grade countries. While we understand that Primero's current management does not intend to operate in those countries, we want to ensure continuity in maintaining low geopolitical operating risk.
The full text of today's MBI press release, including detailed support of the Proposals, is available at www.montruscobolton.com under section Publications/Press Releases/Corporate Governance - Montrusco Bolton Investments Inc. Requests Shareholders to Help Improve Corporate Governance at Primero Mining Corp.
Montrusco Bolton is committed to adding value by engaging with the companies in which it invests.
SOURCE Montrusco Bolton Investments Inc.