…I pulled this out of Spider’s news releases for you guys, in which the small retail investor stood up against a motion put forth by management to consolidate company shares, the small guys won this one…. Thought you might want to stick this to the side of your monitor, never to forget that good things do happen when you bond together, hope is never lost… Good Luck with this one you guys! … all the best, kelsee
Fri Jun 27, 10:00 AM
TORONTO, ONTARIO--(Marketwire - June 27, 2008) - THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN SECURITIES LAW, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
Spider Resources Inc. (TSX VENTURE: SPQ.V) is pleased to announce the results of its annual and special general meeting held in Toronto last week (the "Meeting"). All of the current directors of Spider were re-elected for a further term, as were the auditors of the corporation. The proposed resolution which would have authorized the board of directors of Spider to proceed with a consolidation of Spider's common shares on certain terms as described in greater detail in the management information circular sent out in connection with the Meeting was defeated by 37,633,693 common shares voted against the resolution to 30,687,806 common shares voted in favour of the resolution at the meeting. As the resolution was defeated, the consolidation of Spider's common shares will not go forward.
