Epsilon Announces AGM Results
Epsilon Energy Ltd. (NASDAQ: EPSN) announced the successful election of all nominees in its Proxy Statement during the annual shareholders meeting on September 1, 2020.
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Rhea-AI Summary
Epsilon Energy Ltd. (NASDAQ: EPSN) announced the successful election of all nominees in its Proxy Statement during the annual shareholders meeting on September 1, 2020. The board will consist of seven directors, and BDO USA, LLP has been appointed as the company's auditor. The shareholders also ratified the 2020 Equity Incentive Plan and approved amendments to the bylaws to increase the quorum requirement. Notably, John Lovoi received 98.91% approval, while Ryan Roebuck had a lower approval rate of 71.21%.
Positive
- All seven nominees for the board were elected with significant majority votes.
- Appointment of BDO USA, LLP as auditor enhances credibility.
- Ratification of the 2020 Equity Incentive Plan supports employee engagement.
Negative
- Ryan Roebuck received only 71.21% approval, indicating potential shareholder concerns.
Details
News Market Reaction – EPSN
The recorded move for EPSN in the trading session of this news was -4.45%.
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HOUSTON, Sept. 01, 2020 (GLOBE NEWSWIRE) -- Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) is pleased to announce that all the nominees listed in its Proxy Statement, Schedule 14A filed on August 4, 2020 were elected as directors of Epsilon, until the next annual meeting of shareholders. The detailed results of the vote at the annual shareholders meeting held on Tuesday, September 1, 2020 are set out below.
At the meeting, the number of directors was set at seven, and BDO USA, LLP was appointed as auditor. In addition, the ratification of the 2020 Equity Incentive Plan and the amendment of the bylaws increasing the quorum requirement were also passed. Each of the following seven nominees proposed by management was elected as a director of Epsilon.
| Nominee | % For | % Withheld |
| John Lovoi | ||
| Matthew Dougherty | ||
| Ryan Roebuck | ||
| Stephen Finlayson | ||
| Michael Raleigh | ||
| Jacob Roorda | ||
| Tracy Stephens |
About Epsilon
Epsilon Energy Ltd. is a North American onshore natural gas production and midstream company with a current focus on the Marcellus Shale of Pennsylvania and the Anadarko Basin in Oklahoma.
Contact Information:
281-670-0002
Michael Raleigh
Chief Executive Officer
Michael.Raleigh@EpsilonEnergyLTD.com
Special note for news distribution in the United States
The securities described in the news release have not been registered under the United Stated Securities Act of 1933, as amended, (the “1933 Act”) or state securities laws. Any holder of these securities, by purchasing such securities, agrees for the benefit of Epsilon Energy Ltd. (the “Corporation”) that such securities may not be offered, sold, or otherwise transferred only (A) to the Corporation or its affiliates; (B) outside the United States in accordance with applicable state laws and either (1) Rule 144(as) under the 1933 Act or (2) Rule 144 under the 1933 Act, if applicable.
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