International Baslen Enterprises Limited
27 February 2006 International Baslen Enterprises Limited (the "Corporation") hereby advises that the Court of Appeal For Ontario, by written reasons released January 30, 2006, has dismissed the appeal by John L. Kirwan of the Judgment of Mr. Justice J. H. Jenkins of the Ontario Court of Justice dated March 29, 2005 (the "Judgment"). A copy of the written reasons of the Court of Appeal For Ontario may be obtained at http://www.ontariocourts.on.ca/decisions/2006/january/C44024.pdf
The Judgment, obtained on an application made by the Corporation, provided, among other things, that John L. Kirwan resigned as a director of the Corporation on May 29, 2002. The Judgment also provided that Pieter Buiskool was the sole remaining director of the Corporation and, as such, should convene a shareholders' meeting to elect a board of directors as soon as possible. An annual and special meeting of shareholders of the Corporation was duly called by Mr. Buiskool, as set out in a Notice of Meeting and Management Information Circular dated May 24, 2005, and was held in Toronto, Ontario on June 21, 2005. At that meeting, the shareholders of the Corporation fixed the size of the board of directors at five, elected a board of directors and appointed auditors for the Corporation for the ensuing year.
%SEDAR: 00016432E
For further information: Jean R. Roy, President, International Baslen Enterprises Limited, Tel: (705) 268-3233, Fax: (705) 268-5764
Source: newswire
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