David Elliott, Concerned Shareholder of Auro Resources Corp. (NNGVF.PK, ARU.V), said Sunday that ISS Proxy Advisory Services, an independent international corporate governance analysis and proxy advisory firm, has issued a report recommending that its clients vote the GREEN proxy for the Dissident Nominees for the board of directors of the company at the annual general and special meeting of shareholders of the company to be held on January 3, 2013.
In making its recommendation, ISS considered whether David Elliott, the Concerned Shareholder, made a compelling case that the change in management is warranted.
In its recommendation, ISS cited that the current board clearly lacks independent oversight, which raises concerns about self-dealing of current directors as evidenced by dissident allegations against current management; The proposed new board comprising the Dissident Nominees will be wholly independent; Three of the Dissident Nominees appear to have sophisticated experiences in mining.
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by RTT Staff Writer
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