Franchise Services of North America Announces Holding of Annual and Special Meeting of Shareholders

Franchise Services of North America Inc. (FSNA) held its annual and special meeting of shareholders on March 26. At the meeting, management’s nominees, Sandy Miller, Tom McDonnell, David Forseth and Michael Linn, were re-elected to the company’s Board of Directors for the ensuing year. Tom McNeely, the company’s substitute nominee, was also elected as a new director to serve on the board.

McNeely’s appointment as a director remains subject to approval of the TSX Venture Exchange. Also at the meeting, RSM Richter LLP was appointed as the company’s auditors. In addition, a resolution was passed reconfirming and approving the company’s stock option plan, such that the number of common shares of the company that may be reserved for issuance upon the exercise of options granted may not at any time exceed 20 percent of the common shares that were issued and outstanding as of the date of the meeting. Approval of the company’s stock option plan remains subject to final approval of the TSX Venture Exchange.

Bob Barton, the company’s chief operating officer, stated, “The company is very pleased to welcome Mr. McNeely to the Board and welcomes his input and direction. The company would also like to thank Mr. DeLeon for his past service to the company, and wishes him well in his future endeavors.”

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