Polaris Modifies Quorum Requirement for Upcoming AGM

Polaris Renewable Energy (RAMPF) amended its by-laws to modify the quorum requirement for the June 26, 2026 annual shareholder meeting at 9:00 a.m. Toronto time.

Rhea-AI Summary

Polaris Renewable Energy (RAMPF) amended its by-laws to modify the quorum requirement for the June 26, 2026 annual shareholder meeting at 9:00 a.m. Toronto time.

Quorum will now be one person present or by proxy representing at least 45% of outstanding voting shares, applicable only to this meeting.

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On Jun 26, the first trading day after this news, RAMPF closed 1.61% above the previous close. That session’s volume was 2.7x the stock’s average daily volume.

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TORONTO, ON / ACCESS Newswire / June 24, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris" or the "Company") announced today that its Board of Directors has approved an amendment to the Corporation's by-law to modify the quorum requirement for shareholder meetings.

The amendment will apply to the annual meeting of shareholders (the "Meeting") to be held on June 26, 2026 at 9:00 a.m. (Toronto time).

Under the Corporation's by-laws, quorum for shareholder meetings previously required the presence, in person or by proxy, of holders of a majority of the outstanding shares entitled to vote at the meeting. The amended by-law provides that quorum will consist of one person present, in person or represented by proxy, holding or representing not less than 45% of the outstanding shares of the Company entitled to vote at the meeting. The amendment does not change the level of shareholder approval required to approve any matter at the Meeting.

The amendment is effective as of the date of approval by the Board and applies solely to the Meeting. The Company does not intend to submit the amendment to shareholders for confirmation, and accordingly the amendment will cease to be effective in accordance with applicable corporate law following the conclusion of the Meeting. The amendment is a procedural adjustment made solely in connection with the Meeting.

The annual meeting was originally scheduled for June 18, 2026 and was postponed to provide additional time for shareholders to vote their shares and to reduce the likelihood that the Meeting would be delayed due to insufficient quorum.

At the Meeting, shareholders will be asked to vote on the election of directors and the re-appointment of the Corporation's auditors.

The Corporation's management information circular dated May 15, 2026, previously distributed to shareholders, provides detailed information regarding the Meeting and the matters to be considered thereat.

About Polaris Renewable Energy Inc.

Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America and the Caribbean. We are a high-performing and financially sound contributor to the energy transition.

The Company's portfolio includes a geothermal plant (~82 MW), four run-of river hydroelectric plants (~39 MW), three solar (photovoltaic) projects (~35 MW) and an onshore wind park (~26 MW).

For more information, contact:

Investor Relations
Polaris Renewable Energy Inc.
Phone: +1 647-245-7199
Email: info@PolarisREI.com

SOURCE: Polaris Renewable Energy Inc.

View the original press release on ACCESS Newswire

FAQ

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What quorum change did Polaris Renewable Energy (RAMPF) approve for the June 26, 2026 AGM?

Polaris approved a temporary by-law amendment setting quorum at one person holding or representing at least 45% of outstanding voting shares. According to Polaris, this replaces the prior majority-of-shares quorum but applies only to the June 26, 2026 annual shareholder meeting.

Does the new quorum rule at Polaris Renewable Energy's 2026 AGM change voting approval thresholds for RAMPF shareholders?

The new quorum rule does not change shareholder approval levels required for any matter. According to Polaris, the amendment only adjusts how quorum is reached; all existing approval thresholds for director elections and auditor re-appointment at the June 26, 2026 meeting remain unchanged.

Why did Polaris Renewable Energy (RAMPF) postpone its 2026 annual shareholder meeting to June 26, 2026?

Polaris postponed the annual meeting from June 18 to June 26, 2026 to allow more time for shareholders to vote. According to Polaris, the delay also aimed to reduce the risk of further postponement due to insufficient quorum at the meeting.

How long will Polaris Renewable Energy's modified quorum requirement for RAMPF remain in effect?

The modified quorum requirement is effective only for the June 26, 2026 annual meeting. According to Polaris, the Board-approved amendment will not be submitted for shareholder confirmation and will cease to be effective after the meeting under applicable corporate law.

What will RAMPF shareholders vote on at Polaris Renewable Energy's June 26, 2026 annual meeting?

RAMPF shareholders will vote on electing directors and re-appointing the corporation's auditors at the meeting. According to Polaris, detailed information on nominees, auditor re-appointment, and other matters appears in the management information circular dated May 15, 2026 previously sent to shareholders.

Is Polaris Renewable Energy's 2026 quorum amendment a permanent by-law change for RAMPF shareholders?

The quorum amendment is not permanent and applies solely to the 2026 annual meeting. According to Polaris, the company does not plan to seek shareholder confirmation, so the amendment will automatically lapse after the meeting in line with corporate law requirements.