Bristol Bay Native Corporation would like to inform its shareholders about a new quorum reduction request, unanimously approved by the BBNC Board of Directors. The request to reduce the quorum requirement at shareholder meetings will be voted on by BBNC’s shareholders at the BBNC 2018 Annual Meeting of Shareholders to be held October 6, 2018. Specifically, shareholders will vote on the following Shareholder Resolution 18-02:
Resolved, that BBNC shall amend its Articles of Incorporation to reduce the quorum requirement for shareholder meetings to one-third of the outstanding shares entitled to vote at a meeting, represented in person or by proxy.
BBNC’s Articles of Incorporation must be amended to change the quorum requirement. Amending the Articles of Incorporation requires a vote of approval by BBNC’s shareholders. If BBNC shareholders approve of this change, it would help ensure that BBNC continues to achieve quorum at shareholder meetings so that business may be conducted efficiently and without unnecessary costs.
What our leadership has to say about the Quorum Reduction
“Many villages in Bristol Bay have already reduced their quorum requirement, and we think it is a good move to ensure successful shareholder meetings for the future of our corporation. Please vote to approve the quorum reduction resolution.”
Joseph L. Chythlook, BBNC Chairman of the Board
“BBNC is always concerned about reaching quorum at shareholder meetings and works hard to encourage shareholders to vote. With continued growth in the shareholder population, reaching quorum is becoming more challenging every year. BBNC leadership encourages shareholders to vote to approve the quorum reduction resolution.”
Jason Metrokin, President & Chief Executive Officer
“BBNC holds an annual shareholder meeting, conveys information through shareholder informational meetings and distributes informational and proxy materials at significant cost every year. If BBNC did not meet quorum, the corporation would have to make a second attempt, doubling those costs. We’re looking to the corporation’s future growth and believe that if shareholders approve the quorum reduction, BBNC will never be faced with the prospect of a failed annual meeting.”
April Ferguson, Executive VP, General Counsel & Corporate Secretary
If you are ready to vote, you can visit the online voting website to vote online and qualify for special cash prizes!