EDMONTON, Alberta – The annual meeting of shareholders (annual meeting) for Capital Power Corporation (TSX: CPX) (Capital Power or the Company) was held on April 28, 2017 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 6, 2017 and available on the Company’s website at: www.capitalpower.com/AGM.
The total number of shares represented by shareholders present in person and by proxy at the annual meeting was 62,073,458 representing 64.26% of the Company’s Common Shares that were issued and outstanding as of the record date of the annual meeting.
The voting results for each matter presented at the annual meeting are provided below:
1. Election of Directors:
Each of the 10 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|
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 of the Shareholders of the Company, at remuneration to be fixed by the Directors on the recommendation of the Audit Committee, was approved by a show of hands. Proxies representing 61,743,114 (99.49%) votes for and 319,307 (0.51%) 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 58,890,521 (96.27%) votes for and 2,280,144 (3.73%) votes against were received.
4. Amendment of By-Law No. 2
The amendment of By-Law No. 2 of the Company, as approved by the board of directors of the Company on November 17, 2016 and as set out in the Company’s management proxy circular delivered before the Company’s 2017 annual meeting of shareholders, was confirmed without amendment by a show of hands as an ordinary resolution. Proxies representing 61,038,962 (99.78%) votes for and 131,703 (0.22%) votes against were received.
5. Amendment of Omnibus Long Term Incentive Plan (the “Plan”) to increase the aggregate number of common shares which may be issued by the Company under the Plan:
The amendment of the Plan to increase the aggregate number of common shares which may be issued under the Plan from 7,094,506 to 9,194,506 common shares, was authorized and approved as an ordinary resolution by a show of hands. Proxies representing 56,499,309 (92.36%) votes for and 4,671,356 (7.64%) 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 approximately 3,500 megawatts of power generation capacity at 20 facilities across North America. More than 700 megawatts of owned generation capacity is in advanced development in Alberta and Kansas.