A proposal may include nominations for the election of directors if the proposal is signed by one or more holders of shares who represent in the aggregate not less than—
(a) 5% of the shares of the company; or
(b) 5% of the shares of a class of shares of the company,
entitled to vote at a meeting to which the proposal is to be presented; but this subsection does not preclude nominations made at a meeting of shareholders of a company that is not required to solicit proxies under section 141.