ST. CATHARINES, Ontario--(BUSINESS WIRE)--Algoma Central Corporation (“Algoma” or the “Company”) (TSX:ALC), a leading supplier of marine transportation services, held its Annual General and Special Meeting of Shareholders (the “Meeting”) on May 5, 2021. Each of the matters set out below were voted upon at the Meeting and are described in greater detail in the Company’s Management Information Circular dated February 25, 2021, available online at www.algonet.com/investor-relations and on www.sedar.com.
1. Election of Directors
All nominees listed in the Management Information Circular were elected as directors until the next annual general meeting of shareholders with the support of 85% of shares voted.
Nominee |
Outcome |
Votes For |
Votes Withheld |
Total |
Richard B. Carty |
Elected |
31,807,954 |
179,712 |
31,987,666 |
Paul Gurtler |
Elected |
31,895,097 |
92,569 |
31,987,666 |
E.M. Blake Hutcheson |
Elected |
31,928,763 |
58,903 |
31,987,666 |
Duncan N.R. Jackman |
Elected |
31,821,114 |
166,552 |
31,987,666 |
Trinity O. Jackman |
Elected |
31,857,212 |
130,454 |
31,987,666 |
Mark McQueen |
Elected |
31,928,736 |
58,930 |
31,987,666 |
Clive P. Rowe |
Elected |
31,915,481 |
72,185 |
31,987,666 |
Harold S. Stephen |
Elected |
31,913,236 |
74,430 |
31,987,666 |
Eric Stevenson |
Elected |
31,915,744 |
71,922 |
31,987,666 |
2. Appointment of Auditors
Professional accounting firm Deloitte LLP was appointed as independent auditors of the Company.
Outcome |
Votes For |
Votes Withheld |
Total |
Approved |
31,968,441 |
38,350 |
32,006,791 |
3. Continuation of the Company’s Stock Option Plan
The continuation of the Company's stock option plan and authorization of the grant of all currently available option entitlements issuable thereunder until May 5, 2024 was approved.
Outcome |
Votes For |
Votes Against |
Total |
Approved |
30,547,029 |
1,440,637 |
31,987,666 |
4. Amendments to the Company’s General By-Law
The amendments to Sections 7.01 and 7.05 of General By-Law No. 1 of the Company was approved.
Outcome |
Votes For |
Votes Against |
Total |
Approved |
31,899,744 |
87,922 |
31,987,666 |
About Algoma Central Corporation
Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes – St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers, cement carriers and product tankers. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally.
Contacts
For further information:
Gregg A. Ruhl
President & CEO
905-687-7890
Peter D. Winkley CPA, CA
Chief Financial Officer
905-687-7897
Or visit
www.algonet.com
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