Exco Technologies Limited 2022 Annual Meeting Results

Rhea-AI Summary

Exco Technologies Limited (OTCQX: EXCOF) held its 2022 annual meeting on January 25, 2023, with 25,271,737 shares (64.95%) voted. All director nominees were elected by a significant majority, with Edward H. Kernaghan receiving 93.9% of votes in favor. Other nominees included Darren M. Kirk (92.3%), Robert B. Magee (99.8%), Colleen M. McMorrow (99.7%), Paul E. Riganelli (90.9%), and Brian A. Robbins (88.6%). The appointment of Ernst & Young, LLP as auditors was also approved with a 96.6% approval rate. This event reflects strong shareholder support for the current board and management team.

Positive

• All director nominees were elected with significant majority votes.
• Edward H. Kernaghan received 93.9% approval, signaling strong shareholder confidence.
• Appointment of Ernst & Young as auditors received 96.6% approval, indicating trust in financial practices.

Negative

• Darren M. Kirk and Paul E. Riganelli faced over 7% and 9% opposition respectively, indicating some shareholder dissent.
• Brian A. Robbins had 11.4% votes against his election, which could signal concerns among shareholders.

TORONTO, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Exco Technologies Limited (TSX-XTC, OTCQX-EXCOF) announced voting results from its 2022 annual meeting of shareholders held on January 25, 2023. A total of 25,271,737 Common Shares or 64.95% of our issued and outstanding Common Shares, were voted in connection with the meeting. Based on proxies received prior to the meeting, each director nominee was elected by a substantial majority as follows:

		Votes For		Votes Withheld/Against
	Edward H. Kernaghan	93.9%		6.1%
	Darren M. Kirk	92.3%		7.7%
	Robert B. Magee	99.8%		0.2%
	Colleen M. McMorrow	99.7%		0.3%
	Paul E. Riganelli	90.9%		9.1%
	Brian A. Robbins	88.6%		11.4%

Full results of the votes are included as Appendix A to this press release.

Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries.  Through our 20 strategic locations in 9 countries, we employ approximately 5,000 people and service a diverse and broad customer base.

	Source:	Exco Technologies Limited (TSX-XTC, OTCQX-EXCOF)
	Contact:	Darren Kirk, President & Chief Executive Officer
	Telephone:	(905) 477-3065 ext. 7233
	Website:	http://www.excocorp.com

Appendix A

VOTING RESULTS - 2022 ANNUAL MEETING OF SHAREHOLDERS

	Resolution	Votes For				Votes Withheld/Against
		#		%		#		%
	Elect Edward H. Kernaghan as Director	23,488,512		93.9%		1,524,338		6.1%
	Elect Darren M. Kirk as Director	23,075,535		92.3%		1,937,315		7.7%
	Elect Robert B. Magee as Director	24,968,787		99.8%		44,063		0.2%
	Elect Colleen M. McMorrow as Director	24,941,782		99.7%		71,068		0.3%
	Elect Paul E. Riganelli as Director	22,740,334		90.9%		2,272,516		9.1%
	Elect Brian A. Robbins as Director	22,153,022		88.6%		2,859,828		11.4%
	Appointment of Ernst & Young, LLP as Auditors	24,415,957		96.6%		855,330		3.4%

Notes:
(1) Based on proxies submitted
(2) 258,887 shares were not voted for Directors
(3) 25,271,737 shares (64.95%) were voted by proxy

FAQ

What were the voting results for Exco Technologies Limited's 2022 annual meeting?

The 2022 annual meeting of Exco Technologies Limited saw 64.95% of issued shares voted, with all director nominees elected by substantial majority.

What percentage of votes did Edward H. Kernaghan receive during the meeting?

Edward H. Kernaghan received 93.9% of votes in his favor during the 2022 annual meeting.

Who was appointed as auditors for Exco Technologies Limited?

Ernst & Young, LLP was appointed as auditors, receiving a 96.6% approval rate from shareholders.