Element Announces Annual Meeting Voting Results
10 Maio 2023 - 6:01PM
Element Fleet Management Corp. (TSX:EFN) (“Element” or the
“Company”), the largest pure-play automotive fleet manager in the
world, confirmed today that all nine nominees listed in its
management information circular dated April 1, 2023 were elected as
directors at the Annual Meeting of Shareholders held on May 10,
2023 (the “Meeting”), with each director receiving strong support
as demonstrated by the results below. A total of 336,603,435 common
shares (approximately 85.78% of the outstanding common shares) were
represented in person or by proxy at the Meeting.
“We would like to acknowledge and thank our
shareholders, both for the excellent voter turnout of over 85% of
shares voted and also for their continued support as evidenced by
the voting percentages at the Meeting,” said Laura
Dottori-Attanasio, President and Chief Executive Officer of
Element. “Element’s growth strategy is clear and has demonstrated
strong performance to date. We remain committed to continuing to
deliver this success into the future.”
The detailed results of the vote for the
election of directors at the Meeting are set out below:
|
Votes for |
% for (of votes cast) |
Votes withheld |
% withheld (of votes cast) |
David F.
Denison |
325,642,747 |
97.11% |
9,679,801 |
2.89% |
Virginia
Addicott |
333,188,472 |
99.36% |
2,134,076 |
0.64% |
Andrew
Clarke |
333,187,006 |
99.36% |
2,135,542 |
0.64% |
Laura
Dottori-Attanasio |
335,067,518 |
99.92% |
255,030 |
0.08% |
G. Keith
Graham |
332,827,325 |
99.26% |
2,495,223 |
0.74% |
Joan
Lamm-Tennant |
312,846,394 |
93.30% |
22,476,154 |
6.70% |
Rubin J.
McDougal |
333,187,271 |
99.36% |
2,135,277 |
0.64% |
Arielle
Meloul-Wechsler |
330,360,073 |
98.52% |
4,962,475 |
1.48% |
Andrea
Rosen |
330,768,368 |
98.64% |
4,554,180 |
1.36% |
|
|
|
|
|
In addition, shareholders approved an advisory
resolution (say on pay) on executive compensation with 96.82% of
votes cast in favour of the resolution, and approved the
re-appointment of Ernst & Young LLP as the Company’s
independent auditors.
For complete results on all matters voted on at
the Meeting, see Element’s Report of Voting Results filed on the
Company’s SEDAR profile at www.sedar.com.
About Element Fleet
Management
Element Fleet Management (TSX: EFN) is the
largest pure-play automotive fleet manager in the world, providing
the full range of fleet services and solutions to a growing base of
loyal, world-class clients – corporates, governments and
not-for-profits – across North America, Australia and New Zealand.
Element enjoys proven resilient cash flow, a significant proportion
of which is returned to shareholders in the form of dividends and
share buybacks; a scalable operating platform that magnifies
revenue growth into earnings growth; and an evolving
capital-lighter business model that enhances return on equity.
Element’s services address every aspect of clients’ fleet
requirements, from vehicle acquisition, maintenance, accidents and
remarketing, to integrating EVs and managing the complexity of
gradual fleet electrification. Clients benefit from Element’s
expertise as the largest fleet solutions provider in its markets,
offering unmatched economies of scale and insight used to reduce
fleet operating costs and improve productivity and performance. For
more information, visit www.elementfleet.com/investors.
This press release includes forward-looking
statements regarding Element and its business. Such statements are
based on the current expectations and views of future events of
Element’s management. In some cases the forward-looking statements
can be identified by words or phrases such as “may”, “will”,
“expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”,
“believe” or the negative of these terms, or other similar
expressions intended to identify forward-looking statements,
including, among others, statements regarding Element’s
improvements to run-rate profitability; enhancements to clients’
service experience and service levels; enhancement of financial
performance; improvements to client retention trends; reduction of
operating expenses; increases in efficiency; EV strategy and
capabilities; global EV adoption rates; Element's dividend policy
and the payment of future dividends; transformation of its core
business; creation of value for all stakeholders; expectations
regarding syndication; growth prospects and expected revenue
growth; level of workforce engagement; improvements to magnitude
and quality of earnings; executive hiring and retention; focus and
discipline in investing; balance sheet management and plans to
reduce leverage ratios; anticipated benefits of the balanced
scorecard initiative; Element’s proposed share purchases, including
the number of common shares to be repurchased, the timing thereof
and TSX acceptance of the NCIB and any renewal thereof; and
expectations regarding financial performance. No forward-looking
statement can be guaranteed. Forward-looking statements and
information by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause Element’s actual results, performance or achievements, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statement or information. Accordingly, readers
should not place undue reliance on any forward-looking statements
or information. Such risks and uncertainties include those
regarding the ongoing COVID-19 pandemic, risks regarding the fleet
management and finance industries, economic factors and many other
factors beyond the control of Element. A discussion of the material
risks and assumptions associated with this outlook can be found in
Element's annual MD&A, and Annual Information Form for the year
ended December 31, 2021, each of which has been filed on SEDAR and
can be accessed at www.sedar.com. Except as required by applicable
securities laws, forward-looking statements speak only as of the
date on which they are made and Element undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
Contact:
Michael Barrett
Vice President, Investor Relations
(416) 646-5698
mbarrett@elementcorp.com
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