Foraco Announces Election of Directors
Rhea-AI Summary
Foraco (OTC:FRACF) announced results of its April 15, 2026 shareholder meeting in Lunel, France, confirming election of the director slate and a shareholder vote to declare a nil dividend for fiscal 2025.
All director nominees were adopted; vote tallies show support ranging from 88.18% to 94.19%. The nil dividend was approved by 99.91% of votes. Statutory filings and full voting reports are available on SEDAR+.
Positive
- Board slate adopted with at least 88.18% support
- Multiple directors received ~94.19% shareholder approval
- Regulatory compliance with TSX and French meeting rules
Negative
- Nil dividend declared for fiscal 2025 (99.91% support)
- Zero cash payout for shareholders in 2025 fiscal year
News Market Reaction – FRACF
In the Apr 16 session, FRACF gained 10.59%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario and Lunel, France--(Newsfile Corp. - April 16, 2026) - 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 15, 2026 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 6, 2026 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 | 332,209 | 38,983,415 | 14,195,590 | 53,511,214 | Adopted | |
| AGAINST | 3,423,279 | 3,423,279 | ||||
| ABSTAIN | 3,750,000 | 7 | 3,750,007 |
Jean-Pierre Charmensat
| Shareholders | PRESENT | POWERS | PROXIES | Total Votes | % of Votes | RESULT |
| FOR | 332,209 | 42,733,415 | 14,084,870 | 57,150,494 | Adopted | |
| AGAINST | 3,533,999 | 3,533,999 | ||||
| ABSTAIN | 7 | 7 |
Bruno Chabas
| Shareholders | PRESENT | POWERS | PROXIES | Total Votes | % of Votes | RESULT |
| FOR | 332,209 | 42,733,415 | 14,095,603 | 57,161,227 | Adopted | |
| AGAINST | 3,522,766 | 3,522,766 | ||||
| ABSTAIN | 507 | 507 |
Warren Holmes
| Shareholders | PRESENT | POWERS | PROXIES | Total Votes | % of Votes | RESULT |
| FOR | 332,209 | 42,733,415 | 14,096,103 | 57,161,727 | Adopted | |
| AGAINST | 3,522,766 | 3,522,766 | ||||
| ABSTAIN | 7 | 7 |
Jorge Hurtado
| Shareholders | PRESENT | POWERS | PROXIES | Total Votes | % of Votes | RESULT |
| FOR | 332,209 | 42,733,415 | 14,096,103 | 57,161,727 | Adopted | |
| AGAINST | 3,522,766 | 3,522,766 | ||||
| ABSTAIN | 7 | 7 |
In addition, the Meeting voted 99.91 % in favor of the Company declaring a nil dividend for the 2025 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/292883