Foraco Announces Election of Directors

Rhea-AI Summary

Foraco International SA (TSX: FAR) held its ordinary and extraordinary general meeting on April 17, 2025, in Lunel, France, where shareholders voted on the election of directors and dividend matters.

All director nominees were successfully elected with strong approval rates:

• Daniel Simoncini (97.48% approval)
• Barreme Conseil SAS represented by Jean-Pierre Charmensat (93.56% approval)
• Bruno Chabas (97.19% approval)
• Warren Holmes (97.19% approval)
• Jorge Hurtado (97.19% approval)

Additionally, shareholders voted 99.96% in favor of declaring a nil dividend for the 2024 fiscal year.

Positive

• Strong shareholder support for all directors with approval rates above 93%

Negative

• Shareholders approved a nil dividend for 2024, indicating no direct return of capital to investors

Toronto, Ontario and Lunel, France--(Newsfile Corp. - April 22, 2025) - Foraco International SA (TSX: FAR) (the "Company" or "Foraco"), in accordance with Toronto Stock Exchange requirements, announces the voting results at the ordinary and extraordinary general meeting of shareholders of the Company held on April 17, 2025 in Lunel, France (the "Meeting").

In accordance with French law, shareholders of the Company, when voting in elections for directors, are given the option to vote "for" or "against/abstain" for the director nominees, meaning that it is not possible for nominees for directors to receive a majority of "withhold" votes and retain their position as directors of the Company. The director nominees, as listed in the Company's management proxy circular dated March 14, 2025 for the Meeting, were elected as directors of the Company at the Meeting. The votes submitted for each director were as follows:

Daniel Simoncini

Shareholders	PRESENT	POWERS	PROXIES	Total Votes	% of Votes	RESULT
FOR	467,209	42,698,988	16,392,879	59,559,076	97.48%	Adopted
AGAINST			1,533,808	1,533,808	2.51%
ABSTAIN			5,000	5,000	0.01%

 

Barreme Conseil SAS (represented by Jean-Pierre Charmensat)

Shareholders	PRESENT	POWERS	PROXIES	Total Votes	% of Votes	RESULT
FOR	467,209	42,698,988	13,995,313	57,161,510	93.56%	Adopted
AGAINST			3,931,374	3,931,374	6.43%
ABSTAIN			5,000	5,000	0.01%

 

Bruno Chabas

Shareholders	PRESENT	POWERS	PROXIES	Total Votes	% of Votes	RESULT
FOR	467,209	42,698,988	16,211,789	59,377,986	97.19%	Adopted
AGAINST			1,714,898	1,714,898	2.81%
ABSTAIN			5,000	5,000	0.01%

 

Warren Holmes

Shareholders	PRESENT	POWERS	PROXIES	Total Votes	% of Votes	RESULT
FOR	467,209	42,698,988	16,211,789	59,377,986	97.19%	Adopted
AGAINST			1,714,898	1,714,898	2.81%
ABSTAIN			5,000	5,000	0.01%

 

Jorge Hurtado

Shareholders	PRESENT	POWERS	PROXIES	Total Votes	% of Votes	RESULT
FOR	467,209	42,698,988	16,211,789	59,377,986	97.19%	Adopted
AGAINST			1,714,898	1,714,898	2.81%
ABSTAIN			5,000	5,000	0.01%

 

In addition, the Meeting voted 99.96 % in favor of the Company declaring a nil dividend for the 2024 fiscal year.

The Company's statutory filings, including its complete report of voting results from the Meeting, are available at www.sedarplus.ca.

About Foraco

Foraco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third largest global drilling enterprise with a presence in 17 countries across five continents. For more information about Foraco, visit www.foraco.com.

For further information, please contact:

Fabien Sevestre
Email: ir@foraco.com
Tel: 1 705 495 6363

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249375

FAQ

What was the voting outcome for Foraco International's (FRACF) 2025 director elections?

All director nominees were elected with approval rates ranging from 93.56% to 97.48%, with Daniel Simoncini receiving the highest approval at 97.48%.

Did Foraco (FRACF) declare a dividend for fiscal year 2024?

No, shareholders voted 99.96% in favor of declaring a nil (zero) dividend for the 2024 fiscal year.

Who received the lowest approval percentage in Foraco's (FRACF) 2025 director elections?

Barreme Conseil SAS, represented by Jean-Pierre Charmensat, received the lowest approval rate at 93.56%.

What was the date and location of Foraco's (FRACF) 2025 shareholder meeting?

The ordinary and extraordinary general meeting was held on April 17, 2025, in Lunel, France.