Stephen W. Bershad Requests Shareholders Meeting at GSI Group Inc.
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BILLERICA, Mass., Nov. 10 /PRNewswire/ -- Stephen W. Bershad announced today that he has purchased over 5.2 million common shares of GSI Group Inc. (GSIG.PK), representing, to Mr. Bershad's knowledge, approximately 11% of the Company's currently issued and outstanding shares.
The last annual meeting of shareholders of the Company to elect directors was held on May 15, 2008. Under Subsection 85(1)(a) of the Business Corporations Act (New Brunswick), the directors of the Company must call an annual meeting of shareholders not later than fifteen months after holding the last preceding annual meeting. Under the Act, therefore, the board of directors should have called an annual meeting by August 15, 2009.
On November 9, 2009, Mr. Bershad delivered a Requisition of Meeting of Shareholders to the Company pursuant to the Act and the Company's By-laws, which Requisition is filed as Exhibit 1 to Mr. Bershad's amended Schedule 13D, which was filed with the Securities and Exchange Commission on November 9, 2009, requesting the Company's board of directors to call a meeting of the Company's shareholders for the purpose of electing directors.
SOURCE Stephen W. Bershad
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