CORRECTION FROM SOURCE: PetroTal Announces Voting Results of Shareholders' Meeting
Rhea-AI Summary
PetroTal (OTCQX: PTALF) reported corrected voting results from its June 23, 2026 annual shareholder meeting. Approximately 43.3% of outstanding shares, or 398.2 million, were represented. Shareholders elected eight directors, reappointed Deloitte LLP as auditor, renewed unallocated share units under its share unit plan, and authorized a potential 5:1 to 10:1 common share consolidation.
Positive
- All AGM resolutions received shareholder approval on June 23, 2026
- Eight directors elected, each receiving at least 94.35% votes for
- Deloitte LLP reappointed auditor with 397,040,210 votes for (99.7%)
- Unallocated share units under share unit plan approved with 243,690,159 votes for (61.2%)
- Share consolidation authorization (5–10 pre-consolidation shares to 1) passed with 390,026,730 votes for (98.0%)
Negative
- None.
News Market Reaction – PTALF
In the Jun 24 session, PTALF declined 9.02%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
PetroTal provides the following correction to the press release issued earlier today, June 24, 2026, which included a reference to a retired Director. The correct Director election results are included below.
Calgary, Alberta and Houston, Texas--(Newsfile Corp. - June 24, 2026) - PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) ("PetroTal" or the "Company") is pleased to announce that all resolutions at the annual general meeting of shareholders held on June 23, 2026 (the "Meeting"), have been fully authorized and approved. A total of 398,160,798 common shares representing approximately
The shareholders approved the setting of the number of directors to be elected at the Meeting at eight and the following nominees were elected as directors of PetroTal, being the eight nominees listed in the management information circular of the Company dated May 12, 2026, to hold office until the next annual meeting of shareholders or until their successors are duly elected or appointed, unless such office is vacated earlier in accordance with PetroTal's by-laws. Results of the vote are as follows:
| Votes For | Votes Withheld | |||
| Director | # | % | # | % |
| Manuel Pablo Zúñiga-Pflücker | 361,490,749 | 99.46 | 1,962,570 | 0.54 |
| Mark McComiskey | 361,464,604 | 99.45 | 1,988,715 | 0.55 |
| Gavin Wilson | 342,933,738 | 94.35 | 20,519,581 | 5.65 |
| Eleanor Barker | 361,087,235 | 99.36 | 2,338,981 | 0.64 |
| Jon Harris | 361,326,308 | 99.41 | 2,127,011 | 0.59 |
| Felipe Arbelaez-Hoyos | 359,656,734 | 98.96 | 3,796,585 | 1.04 |
| Emily Morris | 346,631,975 | 95.37 | 16,821,344 | 4.63 |
| Denisse Abudinen | 346,846,363 | 95.44 | 16,579,853 | 4.56 |
In addition, shareholders approved the appointment of Deloitte LLP as auditors of the Company to hold office until the next annual meeting, and the directors were authorized to fix their remuneration. The results of the vote were as follows:
| Votes For (%) | |
| 397,040,210 ( |
The shareholders also approved the grant of unallocated share units issuable under PetroTal's performance and restricted share unit plan pursuant to the requirements of the Toronto Stock Exchange.
| Votes For (%) | |
| 243,690,159 ( |
Lastly, the shareholders approved a special resolution authorizing the directors to consolidate the Common Shares of the Company on the basis of a ratio of between five (5) and ten (10) pre-consolidation Common Shares for each one (1) post-consolidation Common Share, as described in the Information Circular.
| Votes For (%) | |
| 390,026,730 ( |
A full report on the voting results is available under PetroTal's profile on SEDAR+ at www.sedarplus.ca.
ABOUT PETROTAL
PetroTal is a publicly traded, tri‐quoted (TSX: TAL, AIM: PTAL and OTCQX: PTALF) oil and gas development and production Company domiciled in Calgary, Alberta, focused on the development of oil assets in Peru. PetroTal's flagship asset is its
For further information, please see the Company's website at www.petrotal-corp.com, the Company's filed documents at www.sedarplus.ca, or below:
Camilo McAllister
Executive Vice President and Chief Financial Officer
Cmcallister@PetroTal-Corp.com
T: (713) 253-4997
Manolo Zuniga
President and Chief Executive Officer
Mzuniga@PetroTal-Corp.com
T: (713) 609-9101
PetroTal Investor Relations
InvestorRelations@PetroTal-Corp.com
Celicourt Communications
Mark Antelme / Jimmy Lea
petrotal@celicourt.uk
T : +44 (0) 20 7770 6424
Strand Hanson Limited (Nominated & Financial Adviser)
Ritchie Balmer / James Spinney / Robert Collins
T: +44 (0) 207 409 3494
Stifel Nicolaus Europe Limited (Joint Broker)
Callum Stewart / Simon Mensley / Ashton Clanfield
T: +44 (0) 20 7710 7600
Peel Hunt LLP (Joint Broker)
Richard Crichton / David McKeown / Georgia Langoulant
T: +44 (0) 20 7418 8900
READER ADVISORIES
FORWARD-LOOKING STATEMENTS: This press release contains certain statements that may be deemed to be forward-looking statements. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "estimate", "potential", "will", "should", "continue", "may", "objective", "intend" and similar expressions. The forward-looking statements provided in this press release are based on management's current belief, based on currently available information, as to the outcome and timing of future events. PetroTal cautions that forward looking statements relating to PetroTal are subject to all of the risks, uncertainties and other factors, which may cause the actual results, performance, capital expenditures or achievements of the Company to differ materially from anticipated future results, performance, capital expenditures or achievement expressed or implied by such forward-looking statements, including the Company's intentions regarding the NCIB and its ability to achieve related anticipated benefits. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to, business performance, legal and legislative developments including changes in tax laws and legislation affecting the oil and gas industry, credit ratings and risks, fluctuations in interest rates and currency values, changes in the financial landscape both domestically and abroad, including volatility in the stock market and financial system, wars (including Russia's war in Ukraine and the Israeli-Hamas conflict), regulatory developments, commodity price volatility, price differentials and the actual prices received for products, exchange rate fluctuations, legal, political and economic instability in Peru, access to transportation routes and markets for the Company's production, changes in legislation affecting the oil and gas industry, changes in the financial landscape both domestically and abroad (including volatility in the stock market and financial system) and the occurrence of weather-related and other natural catastrophes. Readers are cautioned that the foregoing list of factors is not exhaustive. Please refer to the annual information form for the year ended December 31, 2025 and the management's discussion and analysis for the three months ended March 31, 2026 for additional risk factors relating to PetroTal, which can be accessed either on PetroTal's website at www.petrotal-corp.com or under the Company's profile on www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302688