TORONTO, Feb. 18, 2015 /PRNewswire/ - Russel Metals Inc.
(RUS - TSX) announced today that its Board of Directors has adopted
a by-law, which establishes a framework for the advance notice of
director nominations by shareholders of the Company, prior to
annual and special meetings.
This by-law is similar to advance notice by-laws adopted by many
other Canadian public companies and is intended to provide a
transparent and fair process for nominating directors by ensuring
that all shareholders receive timely and adequate information about
director nominees to be considered at its meetings.
For annual meetings of shareholders, including a combined annual
and special meeting, notice to the Company must be not less than 30
days prior to the date of the meeting. For annual meetings to be
held on a date that is less than 50 days following public
announcement of the meeting, notice must be given not later than
the close of business on the 10th day following the date of the
public announcement. For special meetings of shareholders,
which are not combined with an annual meeting, notice must be given
not later than the close of business on the 15th day following the
day on which public announcement of the special meeting was
made.
The by-law is effective immediately; however, shareholders will
be asked to ratify and confirm the by-law at the next meeting of
shareholders. If the by-law is not confirmed by an ordinary
resolution of shareholders, it will be of no further force and
terminate.
A copy of this by-law can be found under the Company's profile
on SEDAR at www.sedar.com.
Russel Metals is one of the largest metals distribution
companies in North America. It carries on business in three
metals distribution segments: metals service centers, energy
products and steel distributors, under various names including
Russel Metals, A.J. Forsyth, Acier
Leroux, Acier Loubier, Alberta Industrial Metals, Apex
Distribution, Apex Monarch, Apex Remington, Arrow Steel Processors,
B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet
Tubulars, JMS Russel Metals, Leroux
Steel, McCabe Steel, Mégantic
Métal, Métaux Russel, Métaux Russel Produits Spécialisés, Milspec,
Norton Metals, Pioneer Pipe, Russel Metals Specialty Products,
Russel Metals Williams Bahcall, Siemens Laserworks, Spartan Energy
Tubulars, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.
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SOURCE Russel Metals Inc.