Business News • MarketWire • MPL Communications Inc.: Settlement of Court-Ordered Payment in Minority Shareholder Action Approved and 2009 Financial Statements Filed |
MPL Communications Inc.: Settlement of Court-Ordered Payment in Minority Shareholder Action Approved and 2009 Financial Statements Filed |
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MPL Communications Inc.: Settlement of Court-Ordered Payment in Minority Shareholder Action Approved and 2009 Financial Statements Filed
TORONTO, ONTARIO--(Marketwire - June 4, 2010) - MPL Communications Inc. (TSX VENTURE:MPZ) announces that it and its major shareholder, Marpep Publishing Limited, have approved a settlement of amounts owed by Marpep under an Alberta court order issued in early 2009. The order arose from an oppression action launched by certain MPL minority shareholders.
A revised settlement proposal was sent to MPL's independent directors in early March, which they reviewed together with Marpep's financial statements for the years 2002 through 2008 and the statements of personal financial affairs of Marpep's principals. The independent directors conditionally approved the settlement proposal on March 17, subject to satisfaction of a number of conditions and with director David Carlson voting against. The full MPL board met on May 20 and May 26 to discuss the pro
View More : http://www.marketwire.com/mw/release.do?id=1271600&sourceType=3
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