North American Palladium: ISS and Glass Lewis Support Proposed Special Resolution

North American Palladium (TSX:PDL) reported that two independent proxy advisory firms, Lewis Glass and Institutional Shareholder Services, have recommended that their institutional clients vote in favour of resolutions being considered at North American Palladium’s next annual general meeting.
As quoted in the press release:

North American Palladium Ltd. (“NAP”) (TSX:PDL)(OTC PINK:PALDF) (the “Company”) announces that Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), two leading independent proxy advisory firms, have recommended that their institutional clients vote in favour of all the resolutions being considered at NAP’s Annual and Special Meeting of Shareholders scheduled for July 30, 2015 in Toronto, including a special resolution approving a plan of arrangement (the “Arrangement”) that involves NAP, holders of Common Shares and Debentures, and Brookfield Capital Partners Ltd. (“Brookfield”).
ISS and Glass Lewis are recognized as leading independent proxy and corporate governance advisory firms whose recommendations are relied upon by many major institutional investment firms, mutual and pension funds and other institutional shareholders throughout North America.

North American Palladium CEO, Phil du Toit, said:

The Arrangement is integral to our objective of normalizing NAP’s capital structure, enhancing liquidity, and positioning NAP for future growth and profitability, an objective to which management of NAP and the Board of Directors are committed. We urge all securityholders to give serious attention to the Arrangement and hope that we will receive your support.”

Click here for the full press release.