EDMONTON, Alberta – The annual meeting of shareholders (annual meeting) for Capital Power Corporation (TSX: CPX) (Capital Power or the Company) was held on May 1, 2020 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 4, 2020 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 54,827,388 representing 51.99% 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:
- Election of Directors:
Each of the 9 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 Donald Lowry 53,359,071 98.29% 929,263 1.71% Doyle Beneby 53,977,447 99.43% 310,887 0.57% Jill Gardiner 54,196,866 99.83% 91,468 0.17% Kelly Huntington 53,980,436 99.43% 307,898 0.57% Kate Stevenson 54,002,906 99.47% 285,428 0.53% Keith Trent 54,188,867 99.82% 99,467 0.18% Jane Peverett 53,789,612 99.08% 498,722 0.92% Robert Phillips 51,285,512 94.47% 3,002,822 5.53% Brian Vaasjo 54,234,067 99.90% 54,267 0.10%
- Appointment of Auditors:
The appointment of KPMG LLP, Chartered Accountants, to serve as the auditors of the Corporation until the close of the next Annual Meeting of the Shareholders of the Corporation, at remuneration to be fixed by the Directors on the recommendation of the Audit Committee, was approved by a show of hands. Proxies representing 54,294,054 (99.03%) votes for and 533,334 (0.97%) votes withheld were received.
- 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 Corporation’s Management Proxy Circular was approved by a show of hands. Proxies representing 50,377,372 (92.80%) votes for and 3,910,962 (7.20%) 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, owns, and operates power generation facilities using a variety of energy sources. Capital Power owns over 6,400 megawatts (MW) of power generation capacity at 28 facilities across North America. Approximately 100 MW of owned generation capacity is in advanced development in Alberta.