ENTREC Corporation Announces 2015 AGM Date and Proposed Director Nominees
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ACHESON, ALBERTA -- (Marketwired) -- 03/31/15 -- ENTREC Corporation ("ENTREC" or the "Corporation") (TSX: ENT), an employee- owned integrated crane solutions provider, announced today that it will hold its 2015 annual general meeting of shareholders (the "AGM") at its corporate office located at 26420 - Township Road 531A, Acheson, Alberta on May 14, 2015 at 2:00 pm (Alberta time). ENTREC has filed its management proxy materials for the AGM on SEDAR (www.sedar.com) and is in the process of mailing those materials to its shareholders.
One of the items to be voted on at the AGM is the election of directors. The Board of Directors (the "Board") is currently composed of eight (8) members; however, three of the directors, Carolyn Mains, Chris Porter and Joe Brennan, will not be standing for re-election at the AGM. ENTREC proposes Dwayne Hunka, Gregory Monahan and Mark Maybank be nominated for election to the Board at the AGM to fill those vacancies.
Rod Marlin, Executive Chairman of ENTREC, commented that: "ENTREC wishes to acknowledge and thank each of the outgoing Board members for their valued contributions and significant efforts in the growth and development of ENTREC and further wishes them great success in their future endeavors. ENTREC is also looking forward to the new perspectives and additional skills that each of the proposed nominees for election to the Board will bring to the table."
Further information on the individuals who will be put forth by ENTREC for election to the Board at the AGM is set out below:
Rod Marlin, Non-Independent: Mr. Marlin has been the Executive Chairman of the Corporation since January 14, 2014 and was the Chief Executive Officer of the Corporation from October 23, 2009 until January 14, 2014. He was also President of the Corporation from October 23, 2009 until May 12, 2011. Mr. Marlin has also been a Director of the Corporation since October 23, 2009. He was formerly a Director and the President and Chief Executive Officer of Eveready Inc. and its predecessor companies from 1995 until that company's acquisition by Clean Harbors, Inc. in July 2009. Mr. Marlin now sits on the board of directors of Clean Harbors, Inc., a public company listed on the New York Stock Exchange that provides environmental, energy and industrial services throughout North America and in several international locations. Prior to its acquisition by Clean Harbors, Inc. in July 2009, the common shares of Eveready Inc. were listed for trading on the Toronto Stock Exchange. Mr. Marlin was also the founder and President of Marlin Travel Group from its inception in 1967 to its sale in 1993.
John Stevens, Non-Independent: Mr. Stevens has been the Chief Executive Officer of the Corporation since January 14, 2014. He has also been President of the Corporation since May 12, 2011 and was the Chief Operating Officer from May 12, 2011 until January 14, 2014. Mr. Stevens has also been a Director of the Corporation since May 12, 2011. Mr. Stevens was the Interim Chief Executive Officer of G.L.M. Industries L.P., an Alberta based company specializing in the fabrication of storage tanks, pressure vessels, and customized engineering, from November 2010 until April 2011 and was the Chief Financial Officer of that company from April 2010 until January 2011. Prior thereto, Mr. Stevens was a Director and the President of NC Services Group Ltd., an Alberta based one-stop lift and heavy haul service provider, from May 2007 until October 2009 and Chief Executive Officer of that company from November 2008 until October 2009. Mr. Stevens was the Senior Vice President of Eveready Inc. from August 2006 until May 2007 and the Chief Financial Officer of Eveready Inc. from September 2002 until May 2007. Mr. Stevens has held various accounting positions, including Chief Financial Officer, of Nilsson Bros. Inc., a meat packing, livestock and food processing company, from 1990 to 2002. Mr. Stevens received his Bachelor of Commerce degree from the University of Alberta in 1989 and has been a member of the Society of Management Accountants since 1993.
Dwayne Hunka, Independent: Mr. Hunka has been the Vice President Business Development for JV Driver Projects Inc., a provider of industrial construction services to the oil and gas, energy, petrochemical, forestry, and mining sectors based in Edmonton, Alberta, since 2009. Prior thereto, Mr. Hunka accumulated over 25 years of management experience in the fabrication and manufacturing sectors including as Co-owner, Executive Vice President and General Manager of Waiward Steel Fabricators Ltd., a steel fabrication and construction service provider based in Edmonton, Alberta, serving businesses internationally and working all over Western Canada including British Columbia, Alberta and Saskatchewan. He is also currently a Workforce Advisory Council Member for Norquest College, a community college in Edmonton, Alberta, and he is a committee member with the Alberta Steel Manufacturers.
Peter Lacey, Independent: Mr. Lacey has been the Executive Chairman of Cervus Equipment Corporation, a public company listed on the Toronto Stock Exchange that acquires and manages authorized agricultural, commercial, industrial and transportation equipment dealerships, since April 2012. Prior thereto, Mr. Lacey was the President and Chief Executive Officer of Cervus Equipment Corporation, and its predecessor entities, from 1998 to April 2012. Mr. Lacey has also been a director of Cervus Equipment Corporation, and its predecessor entities, since 1998. Mr. Lacey has been a Director of the Corporation since October 23, 2009.
Mark Maybank, Independent: Mr. Maybank is an active private investor, director, advisor and entrepreneur associated with a variety of private companies. He was the President and Chief Operating Officer of Canaccord Genuity Corp., an investment banking company, from 2006 until 2011. He joined Canaccord in 2001 and was responsible for its research activity. Before joining Canaccord, Mr. Maybank was an Executive Vice-President at a technology services and software development firm. Before that, he was a Technology Analyst with Yorkton Securities, an investment banking company, and Chief Financial Officer of a US based cellular services company. Before that, he held various positions with a large multi- national accounting and consulting firm. Mr. Maybank has earned both his Chartered Accountant and Chartered Business Valuator designations.
Gregory Monahan, Independent: Mr. Monahan has been a Managing Director of Crescendo Partners, L.P., a New York-based investment firm, since December 2008 and has held various positions at Crescendo Partners since May 2005. Prior to Mr. Monahan's time with Crescendo Partners, he was the founder of Bind Network Solutions, a consulting firm focused on network infrastructure and security. Mr. Monahan has served on the board of directors of Cott Corporation, a producer of beverages on behalf of retailers, brand owners and distributors, since June 2008. Mr. Monahan also serves on the board of directors of Absolute Software Corp., a leader in firmware-embedded endpoint security and management for computers and ultra-portable devices. He also serves on the board of directors of COM DEV International Ltd., a supplier of space equipment and services, and SAExploration Holdings Inc., a seismic data services company. He previously served on the board of Bridgewater Systems, a telecommunications software provider, and O'Charley's Inc., a multi-concept restaurant company.
Chuck Sanders, Independent: Mr. Sanders has been the Chief Financial Officer with the JV Driver Group of Companies, a provider of industrial construction services based in Edmonton, Alberta, since 2008 and was the Corporate Accountant with JV Driver Group before becoming the Chief Financial Officer. Prior to joining JV Driver Group, Mr. Sanders was with the firm of Hill and Partners, Chartered Accountants and was part of the audit team for various clientele of the firm in the construction, banking and forestry sectors. Mr. Sanders holds the designation of Certified General Accountant, a Bachelor of Commerce Degree as well as a Business Administration Diploma. Mr. Sanders has also completed extensive Mergers and Acquisition training from the Wharton Business School at the University of Pennsylvania. Mr. Sanders is also a graduate of the ICD Directors Education Program. Mr. Sanders has been a Director of the Corporation since June 5, 2012.
Brian Tod, Independent: Mr. Tod is a business lawyer, and acts as counsel to the Edmonton office of Miller Thomson LLP, Barristers and Solicitors (a national law firm). He has held this role since July 1, 2011 after retiring from the partnership of that firm. Prior to retiring from the partnership, Mr. Tod had been with Miller Thomson LLP and its predecessor in Edmonton, Alberta since 1971. Mr. Tod's legal practice has focused in the areas of mergers and acquisitions, corporate / commercial law, contracts, contract negotiation and commercial real estate. Mr. Tod has been a Director of the Corporation since May 15, 2012.
Prior to finalizing its management proxy materials for the AGM, ENTREC engaged in discussions with several of its largest shareholders with respect to the composition of the Board and believes that it has the support of those shareholders for the individuals ENTREC has suggested be elected to the Board at the AGM. However, the election of such individuals to the Board is subject to the actual voting results of the shareholders at the AGM as well as the Corporation's majority voting policy which requires, absent special circumstances, a director to immediately tender his or her resignation to the Board if he or she is not elected by at least a majority (50% +1 vote) of the votes cast with respect to his or her election. No guarantee can be made with respect to the election of directors at the AGM.
ENTREC is an employee-owned integrated crane solutions provider to the oil and natural gas, construction, petrochemical, mining and power generation industries. ENTREC is listed on the Toronto Stock Exchange under the symbol ENT.
Contacts: ENTREC Corporation John M. Stevens President & CEO (780) 960-5625 ENTREC Corporation Jason Vandenberg CFO (780) 960-5630 www.entrec.com
Source: ENTREC Corporation
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