TORONTO, Feb. 5, 2020 /CNW/ - Baylin Technologies (the "Company"; TSX: BYL).
On October 29, 2019, the Ontario Superior Court of Justice (Commercial List) held a hearing to determine whether Mr. Gelerman was entitled to remain as a director of the Company. The dispute arose after Mr. Gelerman received more "withheld" votes than "for" votes at the Company's 2019 annual meeting of shareholders, which required him, in accordance with the Company's majority voting policy, to submit his resignation, which he refused to do. In its recent ruling, the Court set aside the majority voting policy and declared that Mr. Gelerman is entitled to complete his term as a director, which will end at the next annual meeting of shareholders of the Company in May 2020. The Company believes that the Court's ruling involved various errors and is considering an appeal.
About Baylin
Baylin (TSX: BYL) is a diversified leading global wireless technology management company. Baylin focuses on research, design, development, manufacturing and sales of passive and active RF products and services. We aspire to exceed our customers' needs and anticipate the direction of the market.
SOURCE Baylin Technologies Inc.
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