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Stock Market & Financial Investment News

News Breaks
December 16, 2013
06:39 EDTMILMFC Industrial announces ISS recommends shareholders vote against proposal
MFC Industrial announced that Institutional Shareholder Services has recommended that MFC shareholders vote "AGAINST" the proposal by Peter Kellogg and IAT Reinsurance to take control of the MFC board at the upcoming annual general and special meeting of MFC to be held on December 27 and withhold their votes from the election of Peter Kellogg as a director. The ISS recommendations are in line with MFC's previously announced proposal to the Kellogg Group that it would be prepared to support the election of two of the Kellogg Group's nominees that are independent from such group in consideration of the termination of the current proxy contest by the Kellogg Group. MFC urges shareholders to carefully review MFC's communications to shareholders and Proxy Circular and to promptly vote only their WHITE proxy well in advance of the proxy voting deadline of December 24.
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