EDMONTON, Alberta – The annual meeting of shareholders (annual meeting) for Capital Power Corporation (TSX: CPX) (Capital Power or the Company) was held on April 25, 2014 in Edmonton, Alberta. Each of the matters voted upon at the annual meeting is discussed in detail in the Company’s Management Proxy Circular dated March 10, 2014 and is available on the Company’s website at: www.capitalpower.com/2014AGM.
The total number of shares represented by shareholders present in person and by proxy at the annual meeting was 60,240,663 representing 60.11% of the Company’s outstanding Common and Special Voting Shares.
The voting results for each matter presented at the annual meeting are provided below:
1. Election of Directors:
Each of the eight director nominees put forward by management were elected by a vote conducted by way of ballot as follows:
|Director||Votes in Favour||% In Favour||Votes Withheld||% Withheld|
Each of the two director nominees put forward by EPCOR Power Development Corporation (EPCOR), being Hugh Bolton and Allister McPherson, were elected by acclamation. Pursuant to the Company’s Articles of Incorporation, EPCOR, as the sole holder of the Company’s issued and outstanding Special Voting Shares, has the right to elect two directors of the Company, and EPCOR nominated only Hugh Bolton and Allister McPherson for election. A proxy representing 18,841,000 (100%) votes for the election of Hugh Bolton and Allister McPherson, and nil votes withheld, was received from EPCOR.
2. Appointment of Auditors:
The appointment of KPMG LLP, Chartered Accountants, to serve as the auditors of the Company until the close of the next annual meeting, at remuneration to be fixed by the Directors on the recommendation of the Audit Committee, was approved by a show of hands. Proxies representing 60,205,885 (99.96%) votes for and 21,456 (0.04%) votes withheld were received.
3. Approach to executive compensation:
On an advisory basis and not to diminish the role and responsibility of the board of directors, the approach to executive compensation disclosed in the Company’s Management Proxy Circular was approved by a show of hands. Proxies representing 58,913,245 (97.87%) votes for and 1,279,622 (2.13%) votes against were received.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power owns more than 2,600 megawatts of power generation capacity at 14 facilities across North America and owns 371 megawatts of capacity through a power purchase agreement. An additional 490 megawatts of owned generation capacity is under construction in Alberta and Ontario.