Applied Inventions Management Inc.

December 16, 2011 12:35 ET

Applied Inventions Management Inc. Shareholders Approve All Matters Presented at the Annual and Special Meeting of the Shareholders

TORONTO, ONTARIO--(Marketwire - Dec. 16, 2011) - Applied Inventions Management Inc. (the "Company") is pleased to announce that shareholders of the Company have approved all matters voted on at the Company's Annual and Special Meeting of Shareholders held on November 24, 2011 being, namely:

  1. election of management's proposed slate of directors of the Company;

  2. reappointment of Collins Barrow LLP, as the auditors of the Company to hold such office until the close of the next annual meeting of Shareholders;

  3. adoption of new by-laws of the Company;

  4. adoption of a new incentive stock option plan for the Company;

  5. an amendment to the articles of the Company providing that the Company's issued and outstanding Class A Subordinate Voting Shares and the Class B Multiple Voting Shares (collectively, the "Shares") be consolidated on the basis of one (1) new Share in the capital of the Company for every ten (10) existing Shares or such lesser number of existing Shares as may be determined by the board of directors of the Company;

  6. an amendment to the articles of the Company in order to change the name of the Company to "Applied Inventions Management Corp." or such other name as may be approved by the board of directors; and

  7. authorization of the Company's board of directors to effect the issuance of shares in the capital of the Company in exchange for debt owing to an officer of the Company, as more particularly described in the Management Information Circular.

More specific details of the matters approved at the Meeting are set forth in Management Information Circular of the Company dated October 24, 2011 and posted on the System for Electronic Data Analysis and Retrieval (SEDAR) at www.sedar.com.

The Company continues to seek opportunities to acquire an operating business or complete a transaction and, if so, the Company intends to make an application to list its shares on a stock exchange. There is no assurance that the Company will be successful in these endeavors.

Contact Information

  • Applied Inventions Management Inc.
    Michael Stein
    Director
    (416) 410-7722