Argus Corporation Limited: Director Resignations.TORONTO -- Argus Corporation Argus Corporation, based in Toronto, Ontario, is an investment and holding company founded in 1945 by its President E. P. Taylor with minority partners Colonel W. Eric Phillips and Wallace McCutcheon and other investors. Limited (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : AR.PR.A) (TSX: AR.PR.D) (TSX: AR.PR.B) today announced that the resignations of Paul A. Carroll Car·roll , James 1854-1907. British-born American physician noted for his research on yellow fever. In 1900 he deliberately infected himself with the disease for experimental purposes. and Donald M.J. Vale as Directors of Argus have been accepted. Mr. Carroll and Mr. Vale were also members of the Audit Committee of Argus. As a result of the resignations, Argus no longer has an audit committee composed of a majority of Directors who are not officers or employees of Argus or its affiliates as required under corporate law and by the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . Argus intends to bring itself into compliance with this requirement as soon as possible by the appointment of new independent directors. |
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