Canfor Corporation Announces Voting Agreement
VANCOUVER, BRITISH COLUMBIA -- Canfor Corporation (the “Company”) (TSX: CFP) announces that Jim Pattison announced today that Great Pacific Industries Inc., Great Pacific Capital Corp. and 4123221 Canada Inc. (collectively, “Great Pacific”), all of which are wholly-owned by Jim Pattison, have entered into a voting agreement with Third Avenue Management LLC (“Third Avenue”) and Matthews-Cartier Holdings Limited (“Matthews-Cartier”), a holding company controlled by the Company’s founding Bentley and Prentice families, with respect to the common shares of the Company controlled by each of them. The announcement reported that, collectively, Great Pacific, Third Avenue and Matthews-Cartier (collectively, the “Shareholders”) currently own or control 74,636,313 of the Company’s common shares, or approximately 52% of the outstanding common shares.
According to the announcement, under the voting agreement, each of the Shareholders has agreed to vote for a mutually agreed slate of directors at the forthcoming Annual General and Special Meeting of the Company’s shareholders and withhold from voting in favour of any other individual nominated for election as a Company director. In addition, each of the Shareholders has agreed to vote against confirmation of the Company’s shareholder rights plan adopted by the board of directors of the Company on December 22, 2006. The announcement also states that the voting agreement shall expire immediately following the Company’s shareholder meetings at which such matters are addressed.
The Company’s Annual General and Special Meeting is scheduled for May 4, 2007.
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