EDMONTON, Alberta – The annual meeting of shareholders (annual meeting) for Capital Power Corporation (TSX: CPX) (Capital Power or the Company) was held on April 29, 2022 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, 2022 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 48,614,420 representing 41.81% 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|
- 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 47,413,535 (97.53%) votes for and 1,200,885 (2.47%) 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 43,994,211 (90.95%) votes for and 4,380,111 (9.05%) votes against were received.
- Shareholder Rights Plan:
As an ordinary resolution that the shareholder rights plan of the Corporation as set out in the Amended and Restated Shareholder Rights Plan Agreement made as April 22, 2016 between Capital Power and Computershare Trust Company of Canada, be continued and any director or officer of Capital Power is authorized to do all things and execute all documents to give effect to this resolution was approved by a show of hands. Proxies representing 48,227,321 (99.70%) votes for and 147,001 (0.30%) votes against were received.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented North American wholesale power producer with a strategic focus on sustainable energy headquartered in Edmonton, Alberta. We build, own, and operate high-quality, utility-scale generation facilities that include renewables and thermal. We have also made significant investments in carbon capture and utilization to reduce carbon impacts and are committed to be off coal in 2023. Capital Power owns approximately 6,600 MW of power generation capacity at 27 facilities across North America. Projects in advanced development include approximately 385 MW of owned renewable generation capacity in North Carolina and Alberta and 512 MW of incremental natural gas combined cycle capacity, from the repowering of Genesee 1 and 2 in Alberta.