Enbridge announces adoption of Advance Notice Bylaw

Enbridge Inc. has announced the adoption by its Board of Directors of Bylaw No. 2 of the company (the Advance Notice Bylaw), a bylaw establishing a framework for advance notice of nominations of directors by shareholders of the company.

The Advance Notice Bylaw is similar to the advance notice bylaws adopted by many other Canadian public companies. Specifically, it provides for advance notice of nominations of directors in circumstances where nominations of persons for election to the Board of Directors are made by shareholders. The Advance Notice Bylaw is intended to provide a transparent and fair process for nominating directors of the company in connection with any annual or special meeting of shareholders.

For an annual meeting of shareholders (including an annual and special meeting), notice to the company must be not less than 30 days prior to the date of the meeting. In the event that the annual meeting is to be held on a date that is less than 50 days following public announcement of notice of the meeting, notice may be given not later than the close of business on the 10^th day following the date of such public announcement.

For a special meeting of shareholders (which is not also an annual meeting), notice to the company must be given not later than the close of business on the 15^th day following the day on which public announcement of the special meeting was made.

At the next meeting of shareholders, shareholders will be asked to confirm and ratify the by-law. If the bylaw is not confirmed at the annual shareholders' meeting by an ordinary resolution of the shareholders, it will be of no further force and terminate.

Adapted from press release by Rosalie Starling

Read the article online at: https://www.worldpipelines.com/business-news/08122014/enbridge-announces-adoption-of-advance-notice-bylaw-972/