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BRIEF-Maple Leaf enhances governance agreement with McCain Capital and Michael McCain
February 22, 2017 / 12:49 PM / 9 months ago

BRIEF-Maple Leaf enhances governance agreement with McCain Capital and Michael McCain

Feb 22 (Reuters) - Maple Leaf Foods Inc:

* Maple Leaf enhances governance agreement with McCain Capital and Michael McCain

* Maple Leaf Foods Inc - will not submit existing shareholder rights plan for re-confirmation at company’s annual meeting in 2017

* Maple Leaf Foods Inc says amended governance agreement was approved by independent directors of company

* Maple Leaf Foods - according to amendment, board will consist of majority of independent directors nominated by corporate governance committee of board

* Maple Leaf Foods - as per amendment, agreement by mccain holders that restricts them from increasing ownership interest in co over 45 percent

* Maple Leaf Foods-amendment provides for restrictions on mccain holders’ ability to enter into lock-up agreements except some permitted lock-up agreements

* Maple Leaf Foods - deal has restriction on mccain’s ability to transfer shares to person who would hold 20 pct or more following transfer, except in some circumstances

* Maple Leaf Foods Inc - made governance enhancements with McCain Capital and its CEO, Michael McCain, the largest shareholder of company Source text for Eikon: Further company coverage:

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