Vector Aerospace Corporation

Vector Aerospace Corporation

May 08, 2009 09:03 ET

Vector Aerospace Wins Support of RiskMetrics Group

RiskMetrics Supports Vector's Shareholder Rights Plan

TORONTO, ONTARIO--(Marketwire – May 8, 2009) - Vector Aerospace Corporation (Vector or the Corporation) (TSX:RNO) announced today that RiskMetrics Group (formerly ISS Governance Services), North America's leading proxy advisory firm, recommends that its clients support Vector's Shareholder Rights Plan by voting "FOR" the Rights Plan at its 2009 Annual and Special Meeting of Shareholders to be held on May 14, 2009.

RiskMetrics Group also recommends that its clients support Vector's proposed slate of Directors.

RiskMetrics Group is North America's leading proxy advisory firm whose recommendations are relied upon by hundreds of major institutional investment firms, mutual funds and other fiduciaries.

"We are pleased that RiskMetrics supports our Shareholder Rights Plan and Board nominees" said Mr. Declan O'Shea, President and CEO of Vector. "The Shareholder Rights Plan was originally adopted by Vector Shareholders in 2006 as it was and continues to be in the best interests of the Corporation. The Rights Plan allows the Board of Directors sufficient time to explore and develop alternatives for maximizing shareholder value if a take-over bid is made for the Corporation, and provides every Shareholder with an equal opportunity to participate in such a bid."

"Vector's Shareholder Rights Plan will expire unless Shareholders vote to continue its operation at the meeting," continued Mr. O'Shea. "We request that all Shareholders support its continuation."

Details on the Annual and Special Meeting

The meeting is to be held at 10:00 am on Thursday May 14, 2009 at the Metro Toronto Convention Centre, 255 Front Street West, Room 202AB, Toronto, Ontario.

Shareholders unable to be present in person at the Meeting are requested to complete and sign a form of proxy and deposit it, not later than 10:00 a.m. (EDT) on Tuesday May 12, 2009, at the office of Computershare Investor Services Inc., 1969 Upper Water Street, Suite 2008, Purdy's Wharf Tower II, Halifax, NS, B3J 3R7. Proxies may also be sent by facsimile to Computershare Investor Services Inc. at 902-420-2764.

Shareholders with any questions regarding the proposed resolutions at the Annual and Special Meeting, including the Shareholder Rights Plan, or who require any assistance voting, are asked to contact Kingsdale Shareholder Services at 1-866-851-3217.

About Vector

Vector is an industry-leading independent provider of maintenance, repair and overhaul services for fixed-wing and rotary-wing aircraft operators around the globe. Through facilities in Canada, the United States and the United Kingdom it provides services to commercial and military customers for various types of gas turbine engines, components and helicopter structures. Principal operations include, Vector Aerospace Helicopter Services-North America, Vector Aerospace Helicopter Services-UK, Vector Engine Services - Atlantic and Vector Aerospace Engine Services - UK. Vector has approximately 2,500 employees.

Contact Information

  • Kingsdale Communications
    Janet Craig
    Managing Director
    (416) 867-2315