Algoma Steel Group Inc. Announces Results of Voting at Annual Meeting of Shareholders
Rhea-AI Summary
Algoma Steel Group (NASDAQ: ASTL; TSX: ASTL) reported the results of its June 23, 2026 annual shareholder meeting.
All director nominees were elected, Deloitte LLP was appointed auditor for calendar 2026, and a non-binding advisory resolution on executive compensation was approved by shareholders.
Positive
- None.
Negative
- None.
News Market Reaction – ASTL
In the Jun 24 session, ASTL declined 4.09%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 04 | Sustainability report | Positive | -9.5% | Release of 2025 Sustainability Report and EAF transition milestones overview. |
| May 12 | Q1 2026 earnings | Negative | +0.2% | Weak Q1 2026 results with net loss and Adjusted EBITDA loss during EAF shift. |
| Apr 30 | Earnings date notice | Neutral | +3.2% | Announcement of timetable for releasing and discussing Q1 2026 results. |
| Apr 07 | Defence JV | Positive | +5.3% | Formation of Roshel Algoma Defence joint venture targeting ballistic steel demand. |
| Mar 31 | Q1 guidance | Negative | -0.5% | Guidance for lower shipments and negative Adjusted EBITDA amid EAF ramp‑up. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news shows mixed reactions, with several positive or neutral updates met by weak or negative price moves.
Key Terms
management information circular regulatory
non-binding advisory resolution regulatory
sedar+ regulatory
edgar regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAULT STE. MARIE, Ontario, June 23, 2026 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of steel plate and hot rolled sheet products, announced today the results of voting at its annual meeting of shareholders (the “Meeting”) held on June 23, 2026.
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 | 58,484,340 | 1,366,700 | 59,851,040 |
| Sean Donnelly | 59,757,894 | 93,146 | 59,851,040 |
| James Gouin | 59,671,815 | 179,225 | 59,851,040 |
| Andy Harshaw | 59,657,639 | 193,401 | 59,851,040 |
| Rajat Marwah | 59,749,097 | 101,943 | 59,851,040 |
| Sanjay Nakra | 59,630,116 | 220,924 | 59,851,040 |
| Melinda J. Newman | 59,645,639 | 205,401 | 59,851,040 |
| Eric S. Rosenfeld | 59,634,076 | 216,964 | 59,851,040 |
| Gale Rubenstein | 59,633,108 | 217,932 | 59,851,040 |
The Company reports that the appointment of Deloitte LLP as the Company’s auditors for the 2026 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 April 30, 2026, was approved 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, the Company’s expected reduction in carbon emissions following completion of the EAF project, 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.ca) 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, Algoma is a leading Canadian producer of high-quality plate and sheet steel products, proudly supporting critical sectors including energy, defense, automotive, shipbuilding, and infrastructure. Guided by a purpose to build better lives and a greener future, Algoma is shaping the next generation of sustainable steelmaking in Canada.
With the transition to electric arc furnace (EAF) steelmaking and a modernized plate mill, Algoma is redefining how steel is made in Canada. Powered by Ontario’s clean electricity grid, this transformation represents one of the largest industrial decarbonization initiatives in North America and is expected to reduce carbon emissions by approximately
This new chapter also introduces Volta™, the brand for all steel produced through Algoma’s EAF technology. Volta delivers the same trusted performance customers rely on, with significantly lower emissions—produced safely, sustainably, and proudly in Canada.
Building on more than a century of steelmaking expertise, Algoma continues to invest in its people, processes, and technologies to strengthen domestic supply chains and deliver responsible, Canadian-made steel that helps build a better tomorrow.
For more information, please contact:
Michael Moraca
Chief Financial Officer
Algoma Steel Group Inc.
Phone: 705.945.3300
E-mail: IR@algoma.com
