All Sherritt Director Nominees Elected to the Board With Overwhelming Support from Shareholders
06 Maio 2014 - 7:31PM
Marketwired Canada
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S)
announced that all nine of its nominees were elected to the Board at the Annual
and Special Meeting of Shareholders today.
"I want to thank all shareholders for their feedback, engagement and continued
support of the Corporation during the election process," said Harold (Hap)
Stephen, Chairman of Sherritt. "We believe that the result is in the best
interests of shareholders and the Corporation. With the proxy contest behind us,
your Board remains committed to representing the interests of all shareholders.
In addition, Sherritt's emphasis on shareholder communication and engagement
will continue."
Stephen concluded: "I also want to wish departing director John R. Moses well
and thank him for his contributions to Sherritt."
A total of 201,882,004 shares, or 67.91% of Sherritt's common shares that were
eligible to be voted at the Meeting, were voted. Shareholders elected all of
Sherritt's Director Nominees to the Board. Shareholders did not elect any of the
three dissident nominees. Clarke Inc.'s shareholder proposals also failed to
receive the requisite support from shareholders.
The first nine names listed below comprise the Corporation's Board of Directors:
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Nominee Votes For
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Harold (Hap) Stephen 165,369,924
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Timothy Baker 156,395,257
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R. Peter Gillin 156,320,665
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Sir Richard Lapthorne 156,053,560
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Adrian Loader 156,315,511
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Edythe A. (Dee) Marcoux 146,754,032
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Bernard Michel 146,885,491
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Lisa Pankratz 156,732,607
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David Pathe 165,633,504
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Clarke Nominees
----------------------------------------------------------------------------
George Armoyan 54,437,531
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Ashwath Mehra 34,176,896
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David Wood 33,880,007
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Dustin Haw 1,998,097
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Michael Rapps 2,022,961
----------------------------------------------------------------------------
At the Meeting, Shareholders also voted as follows on a number of resolutions:
----------------------------------------------------------------------------
Resolution Votes For % For Votes Against % Against
----------------------------------------------------------------------------
To adopt the Advance 157,000,469 77.84% 44,686,914 22.16%
Notice By-Law
----------------------------------------------------------------------------
Advisory vote on the non- 143,971,934 71.37% 57,740,812 28.63%
binding Say on Executive
Pay Resolution
----------------------------------------------------------------------------
Advisory vote on the non- 146,866,154 72.80% 54,871,458 27.20%
binding Say on Director
Pay
----------------------------------------------------------------------------
Resolution to reduce the Withdrawn by Clarke Inc. on Friday, May 2, 2014
number of Directors on
the Board
----------------------------------------------------------------------------
Dissident Helms-Burton 9,376,748 5.72% 154,620,487 94.28%
Resolution
----------------------------------------------------------------------------
Shareholder Proposal 1 31,796,895 15.76% 169,931,865 84.24%
----------------------------------------------------------------------------
Shareholder Proposal 2 68,881,881 34.18% 132,661,484 65.82%
----------------------------------------------------------------------------
Shareholder Proposal 3 66,700,662 33.10% 134,842,129 66.90%
----------------------------------------------------------------------------
Shareholder Proposal 4 99,025,814 49.13% 102,517,077 50.87%
----------------------------------------------------------------------------
The resolution to approve the amendments to By-Law No. 1 and the resolution to
appoint the external auditor and fix the external auditor's compensation, were
also approved by the requisite majority.
About Sherritt
Sherritt is a world leader in the mining and refining of nickel from lateritic
ores with operations in Canada, Cuba and Madagascar. The Corporation is the
largest independent energy producer in Cuba, with extensive oil and power
operations across the island. Sherritt licenses its proprietary technologies and
provides metallurgical services to mining and refining operations worldwide. The
Corporation's common shares are listed on the Toronto Stock Exchange under the
symbol "S".
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor inquiries:
Sherritt International Corporation
416-935-2451
Toll-free: 1-800-704-6698
investor@sherritt.com
www.sherritt.com
Media inquiries:
Longview Communications
Joel Shaffer
416-649-8006
Longview Communications
Alan Bayless
604-694-6035
Sherritt International Corporation
416-935-2421
Toll-free: 1-888-625-3448
communications@sherritt.com
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