Algoma Steel Group Inc. Announces Results of Voting at Annual Meeting of Shareholders
Algoma Steel Group (NASDAQ: ASTL), a leading Canadian steel producer, held its annual shareholder meeting on June 24, 2025. All nominated directors were successfully elected with strong shareholder support, with voting percentages ranging from 91-98% in favor for most nominees. The shareholders also approved the appointment of Deloitte LLP as auditors for 2025 and passed a non-binding advisory resolution on executive compensation.
Notable voting results showed David D. Sgro receiving the lowest approval rate with approximately 91% of votes in favor, while Michael Garcia received the highest support with about 98% of votes in favor.
Algoma Steel Group (NASDAQ: ASTL), un importante produttore canadese di acciaio, ha tenuto la sua assemblea annuale degli azionisti il 24 giugno 2025. Tutti i direttori nominati sono stati eletti con un forte sostegno degli azionisti, con percentuali di voto favorevoli che variano dal 91% al 98% per la maggior parte dei candidati. Gli azionisti hanno inoltre approvato la nomina di Deloitte LLP come revisori per il 2025 e hanno approvato una risoluzione consultiva non vincolante sulla remunerazione dei dirigenti.
I risultati principali delle votazioni hanno mostrato che David D. Sgro ha ricevuto il tasso di approvazione più basso, con circa il 91% dei voti favorevoli, mentre Michael Garcia ha ottenuto il sostegno più alto, con circa il 98% dei voti favorevoli.
Algoma Steel Group (NASDAQ: ASTL), un destacado productor canadiense de acero, celebró su junta anual de accionistas el 24 de junio de 2025. Todos los directores nominados fueron elegidos con un fuerte respaldo de los accionistas, con porcentajes de voto a favor que oscilaron entre el 91% y el 98% para la mayoría de los candidatos. Los accionistas también aprobaron el nombramiento de Deloitte LLP como auditores para 2025 y aprobaron una resolución consultiva no vinculante sobre la compensación ejecutiva.
Los resultados destacados mostraron que David D. Sgro recibió la tasa de aprobación más baja, con aproximadamente el 91% de votos a favor, mientras que Michael Garcia obtuvo el mayor respaldo, con cerca del 98% de votos a favor.
Algoma Steel Group (NASDAQ: ASTL)는 캐나다의 주요 철강 생산업체로서 2025년 6월 24일에 연례 주주총회를 개최했습니다. 모든 지명된 이사들이 강력한 주주 지지 속에 성공적으로 선출되었으며, 대부분의 후보자에 대해 찬성 투표 비율은 91%에서 98% 사이였습니다. 주주들은 또한 Deloitte LLP를 2025년 회계감사인으로 임명하는 안건을 승인하고, 경영진 보상에 관한 비구속적 자문 결의안을 통과시켰습니다.
주요 투표 결과에 따르면 David D. Sgro가 약 91%의 찬성률로 가장 낮은 승인율을 기록한 반면, Michael Garcia는 약 98%의 찬성률로 가장 높은 지지를 받았습니다.
Algoma Steel Group (NASDAQ : ASTL), un important producteur d'acier canadien, a tenu son assemblée annuelle des actionnaires le 24 juin 2025. Tous les administrateurs proposés ont été élus avec un fort soutien des actionnaires, les pourcentages de vote en faveur allant de 91 % à 98 % pour la plupart des candidats. Les actionnaires ont également approuvé la nomination de Deloitte LLP en tant qu'auditeurs pour 2025 et ont adopté une résolution consultative non contraignante sur la rémunération des dirigeants.
Les résultats notables des votes ont montré que David D. Sgro a reçu le taux d'approbation le plus bas, avec environ 91 % des voix en faveur, tandis que Michael Garcia a obtenu le soutien le plus élevé, avec environ 98 % des voix en faveur.
Algoma Steel Group (NASDAQ: ASTL), ein führender kanadischer Stahlproduzent, hielt am 24. Juni 2025 seine jährliche Hauptversammlung ab. Alle nominierten Direktoren wurden mit starker Unterstützung der Aktionäre erfolgreich gewählt, wobei die Zustimmungsraten für die meisten Nominierten zwischen 91 % und 98 % lagen. Die Aktionäre genehmigten außerdem die Ernennung von Deloitte LLP als Wirtschaftsprüfer für 2025 und verabschiedeten eine nicht bindende Beratungsresolution zur Vergütung der Geschäftsleitung.
Bemerkenswerte Wahlergebnisse zeigten, dass David D. Sgro mit etwa 91 % der Stimmen die niedrigste Zustimmungsrate erhielt, während Michael Garcia mit etwa 98 % die höchste Unterstützung bekam.
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SAULT STE. MARIE, Ontario, June 24, 2025 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today the results of voting at its annual meeting of shareholders (the “Meeting”) held on June 24, 2025.
All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below:
| Nominee | Votes For | Votes Withheld | Total Votes |
| Mary Anne Bueschkens | 63,288,046 | 1,619,736 | 64,907,782 |
| Sean Donnelly | 63,618,650 | 1,289,132 | 64,907,782 |
| Michael Garcia | 63,619,558 | 1,288,224 | 64,907,782 |
| James Gouin | 63,618,100 | 1,289,682 | 64,907,782 |
| Andy Harshaw | 63,514,669 | 1,393,113 | 64,907,782 |
| Sanjay Nakra | 63,563,641 | 1,344,141 | 64,907,782 |
| Melinda J. Newman | 63,512,570 | 1,395,212 | 64,907,782 |
| Eric S. Rosenfeld | 62,962,411 | 1,945,371 | 64,907,782 |
| Gale Rubenstein | 63,480,639 | 1,427,143 | 64,907,782 |
| David D. Sgro | 59,221,098 | 5,686,684 | 64,907,782 |
The Company reports that the appointment of Deloitte LLP as the Company’s auditors for the 2025 calendar year was passed by a majority of the votes represented at the Meeting.
The Company also reports that the non-binding advisory resolution on executive compensation, outlined in the management information circular dated May 1, 2025, was approved by a majority of votes at the Meeting. The circular is available on SEDAR+ and the Securities and Exchange Commission’s (“SEC”) EDGAR website.
The Company’s full report of voting results on matters presented at the Meeting can be found under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking information” under applicable Canadian securities legislation and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”), including statements regarding Algoma’s transition to electric arc furnace (EAF) steelmaking, Algoma’s future as a leading producer of green steel, Algoma’s modernization of its plate mill facilities, transformation journey, ability to deliver greater and long-term value, ability to offer North America a secure steel supply and a sustainable future, and investment in its people, and processes. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “design,” “pipeline,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. Readers should also consider the other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Information” in Algoma’s Annual Information Form, filed by Algoma with applicable Canadian securities regulatory authorities (available under the company’s SEDAR+ profile at www.sedarplus.com) and with the SEC, as part of Algoma’s Annual Report on Form 40-F (available at www.sec.gov), as well as in Algoma’s current reports with the Canadian securities regulatory authorities and SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Algoma assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
About Algoma Steel
Based in Sault Ste. Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products, including sheet and plate. Driven by a purpose to build better lives and a greener future, Algoma is positioned to deliver responsive, customer-driven product solutions to applications in the automotive, construction, energy, defense, and manufacturing sectors. Algoma is a key supplier of steel products to customers in North America and is the only producer of discrete plate products in Canada. Its state-of-the-art Direct Strip Production Complex (“DSPC”) is one of the lowest-cost producers of hot rolled sheet steel (HRC) in North America.
Algoma is on a transformation journey, modernizing its plate mill and adopting electric arc technology that builds on the strong principles of recycling and environmental stewardship to significantly lower carbon emissions. Today, Algoma is investing in its people and processes, working safely, as a team to become one of North America’s leading producers of green steel.
As a founding industry in their community, Algoma is drawing on the best of its rich steelmaking tradition to deliver greater value, offering North America the comfort of a secure steel supply and a sustainable future.
For more information, please contact:
Michael Moraca
Vice President - Corporate Development & Treasurer
Phone: 705.945.3300
E-mail: IR@www.algoma.com
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