International Tower Hill Mines Announces Results from Annual General Meeting of Shareholders
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/07/13 -- International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX: ITH)(NYSE MKT: THM)(FRANKFURT: IW9) announces the results from its 2013 Annual General Meeting of shareholders held in Vancouver, B.C. on Thursday, June 6, 2013 ("Meeting").
At the Meeting, the Company's shareholders fixed the size of the board at six and the following individuals were re-elected as directors of the Company (all receiving over 50% of the votes cast): Daniel Carriere, Mark Hamilton, Timothy Haddon, Anton Drescher, Roger Taplin and Donald Ewigleben. The shareholders also re-appointed the current auditors, PricewaterhouseCoopers LLP, Chartered Accountants, as auditors of the Company for the fiscal year ending December 31, 2013 and authorized the directors to fix their remuneration.
The shareholders approved, on an advisory non-binding basis ("Say on Pay"), the compensation paid to the Company's NEO's, and a majority of the shareholders were in favour of holding Say on Pay votes every year.
The shareholders also approved an amendment to the Articles of the Company which implements a requirement for advance notice in connection with the nomination of individuals for election as director of the Company ("Advance Notice Requirements"). The purpose of the Advance Notice Requirements is to provide shareholders, directors and management of the Company with a clear framework for nominating directors of the Company. The Company is committed to: (a) facilitating an orderly and efficient annual general or, where the need arises, special meeting, process; (b) ensuring that all shareholders receive adequate notice of director nominations and sufficient information regarding all director nominees; and (c) allowing shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation. The Advance Notice Requirements are intended to further these objectives.
The Advance Notice Requirements, which are effective today, include, among other things, a provision that requires advance notice to the Company in certain circumstances where nominations of persons for election to the Board of Directors are made by shareholders of the Company. The Advance Notice Requirements fix a deadline by which director nominations must be submitted to the Company prior to any annual or special meeting of shareholders and sets forth the information that must be included in the notice to the Company. No person will be eligible for election as a director of the Company unless nominated in accordance with these requirements. In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 days and not more than 65 days prior to the date of the annual meeting; provided, however, that, in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
The full text of the Advance Notice Requirements, together with the detailed proxy voting on all resolutions submitted to the shareholders at the Meeting, is contained in the "Report of Voting Results" for the Meeting which is available under the Company's profile on SEDAR and on the Company's website or upon request by contacting the Company's Corporate Secretary at (604) 683-6332.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. controls a 100% interest in the world-class Livengood Gold Project accessible by paved highway 70 miles northwest of Fairbanks, Alaska.
On behalf of
International Tower Hill Mines Ltd.
Donald C. Ewigleben, President & Chief Executive Officer
Contacts:
International Tower Hill Mines Ltd.
Michelle Stachnik
Manager - Investor Relations
Toll-Free: 1-855-208-4642 Ext. 203
mstachnik@ithmines.com
