Obsidian Energy Announces Voting Results from the 2020 Annua

|Jul 30|magazine7 min read

CALGARY, AB, July 30, 2020 /PRNewswire/ - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF)  ("Obsidian Energy" or the "Company") is pleased to announce that at its annual and special meeting of shareholders held on July 30, 2020, Obsidian Energy's shareholders approved all resolutions outlined in the Notice of 2020 Annual and Special Meeting and Management Proxy Circular dated June 15, 2020 (the "Information Circular"), which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov, and on Obsidian Energy's website at www.obsidianenergy.com.

 

1.  Appointment of Auditor

By resolution passed by show of hands, Ernst & Young LLP, Chartered Accountants, was appointed as auditor of the Issuer for the ensuing year. 

2.  Election of Directors

By resolutions passed by ballot vote, the following eight nominees proposed by management were elected as directors of the Company to hold office until the next annual meeting of Shareholders or until their successors are elected or appointed:


Votes For

Percent

Votes Withheld

Percent

John Brydson

20,492,819

59.27%

14,085,100

40.73%

Raymond D. Crossley

19,105,688

55.25%

15,472,231

44.75%

Michael J. Faust

30,814,842

89.12%

3,763,077

10.88%

William A. Friley

19,151,253

55.39%

15,426,666

44.61%

Maureen Cormier Jackson

19,097,246

55.23%

15,480,673

44.77%

Edward H. Kernaghan

19,661,525

56.86%

14,916,394

43.14%

Stephen Loukas

23,083,703

66.76%

11,494,216

33.24%

Gordon Ritchie

23,549,505

68.11%

11,028,414

31.89%

3.  Non-Binding Advisory Vote on the Corporation's Approach to Executive Compensation

By resolution passed by ballot vote, an advisory resolution was passed to approve the Company's approach to executive compensation as outlined in the Information Circular.  The results of the ballot were as follows: 

Votes For

Percent

Votes Against

Percent

17,630,021

50.99%

16,947,899

49.01%

4.  Approval of Amendment to Stock Option Plan

By resolution passed by ballot vote, a resolution was passed to approve the amendment to the stock option plan, as outlined in the Information Circular.  The results of the ballot were as follows: 

Votes For

Percent

Votes Against

Percent

17,493,022

50.59%

17,084,898

49.41%

5.  Approval of Unallocated Options Pursuant to the Stock Option Plan

By resolution passed by ballot vote, all unallocated options to acquire common shares under the stock option plan until July 30, 2023 was approved.  The results of the ballot were as follows: 

Votes For

Percent

Votes Against

Percent

17,618,132

50.95%

16,959,788

49.05%

6.  Approval of Amendment to Restricted and Performance Share Unit Plan

By resolution passed by ballot vote, a resolution was passed to approve the amendment to the restricted and performance share unit plan, as outlined in the Information Circular.  The results of the ballot were as follows: 

Votes For

Percent

Votes Against

Percent

17,552,474

50.76%

17,025,446

49.24%

7.  Approval of Unallocated Units Pursuant to the Restricted and Performance Share Unit Plan

By resolution passed by ballot vote, all unallocated options to acquire common shares under the restricted and performance share unit plan, until July 30, 2023 was approved.  The results of the ballot were as follows: 

Votes For

Percent

Votes Against

Percent

17,557,206

50.83%

17,000,714

49.17%

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SOURCE Obsidian Energy Ltd.