Mar 31 2010
Coastal Contacts Inc. (TSX:COA) (Stockholm:COA) ("Coastal" or, the "Company") announces that shareholders overwhelmingly approved all resolutions brought before them at the Company's annual general and special meeting (the "AGM") held on March 26, 2010 in Vancouver, Canada.
The following sets forth a summary of matters voted upon at the AGM, the particulars of which are set out in more detail in the management proxy circular of the Company dated February 23, 2010 (the "Proxy Circular"), and the results of the vote:
- Election of Directors: Stuart Belkin and Michaela Tokarski were duly elected as Class II directors of the Company to hold office until the annual meeting of shareholders of the Company to be held in 2013.
- Appointment of Auditors: KPMG LLP were appointed as auditors of the Company for the ensuing year and the directors were authorized to fix their remuneration.
- Approval of Unallocated Options under the Company's Stock Option Plan: the shareholders approved the unallocated stock options under the Company's stock option plan and authorized the stock option plan until March 26, 2013.
- Amendment to the Company's Stock Option Plan: the shareholders approved the amended and restated stock option plan of the Company substantially in the form attached as Appendix "A" to the Proxy Circular.
The Company also announced today that Daniel Muhlbach, CEO of Coastal's wholly owned European private subsidiary, Lensway AB, is no longer with the Company.
Mr. Roger Hardy, Coastal's CEO, will assume the role of CEO of Lensway until a replacement is named.
SOURCE Coastal Contacts Inc.