Information  X 
Enter a valid email address
  Print      Mail a friend       More announcements

Friday 22 May, 2020

Northland Power Inc.

Northland Power Reports on the 2020 Annual and Special Meeting

Northland Power Reports on the 2020 Annual and Special Meeting

TORONTO, May 22, 2020 (GLOBE NEWSWIRE) -- Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) today announced the results of the election of Directors at its Annual and Special Meeting (“the Meeting”) held on May 22, 2020 in a virtual-only meeting format.

The total number of voting shares represented by shareholders present electronically and by proxy at the Meeting was 121,751,941, representing 62.79% of Northland’s outstanding voting shares.

The nine nominees proposed by Management for election as Directors, including the two new Directors, Lisa Colnett and Ian Pearce, were elected. Information on each of the Director Nominees is contained in Northland’s Management Information Circular dated April 15, 2020, which is available on the company’s website at www.northlandpower.com

The votes received were as follows:

Nominee Votes For Percent Withheld Percent
John W. Brace 118,793,436 97.57% 2,958,505 2.43%
James C. Temerty, C.M. 121,541,064 99.83% 210,877 0.17%
Linda L. Bertoldi 121,548,384 99.83% 203,557 0.17%
Dr. Marie Bountrogianni 120,651,391 99.10% 1,100,550 0.90%
Lisa Colnett 121,570,054 99.85% 181,887 0.15%
Barry Gilmour 119,918,755 98.49% 1,833,186 1.51%
Russell Goodman 118,798,783 97.57% 2,953,158 2.43%
Keith Halbert 120,912,264 99.31% 839,677 0.69%
Ian Pearce 117,514,126 96.52% 4,237,815 3.48%

The Board of Directors accordingly fixed the number of Directors to be elected at nine and the election proceeded on that basis.

The Appointment of Ernst & Young LLP to serve as the independent auditors of Northland, and setting of their remuneration, until the next annual meeting was approved.  Votes received were as follows:

Votes For Percent Withheld Percent
117,731,617 96.70% 4,020,324 3.30%

The resolution to confirm the Advance-Notice By-Law adopted by the directors of Northland was approved. Votes received were as follows:

Votes For Percent Against Percent
121,574,545 99.85% 177,396 0.15%

The resolution to approve administrative changes to the By-Law to permit a virtual only shareholder meeting and to change the quorum requirement for shareholder meetings from 10% to 25% was approved. Votes received were as follows:

Votes For Percent Against Percent
121,539,572 99.83% 212,369 0.17%

Northland’s approach to executive compensation was accepted.  Votes received were as follows:

Votes For Percent Against Percent
107,432,505 88.24% 14,319,436 11.76%

ABOUT NORTHLAND

Northland is a global developer, owner and operator of sustainable infrastructure assets that deliver predictable cash flows. Headquartered in Toronto, Canada, Northland was founded in 1987 and has been publicly traded since 1997 on the Toronto Stock Exchange (TSX: NPI).

Northland owns or has an economic interest in 2,681 MW (net 2,266 MW) of operating generating capacity and 130 MW of generating capacity under construction, representing the La Lucha solar project in Mexico. Northland also owns a 60% equity stake in the 1,044 MW Hai Long projects under development in Taiwan and operates a regulated utility business in Colombia.

Northland's common shares, Series 1, Series 2 and Series 3 preferred shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A and NPI.PR.B, NPI.PR.C, respectively.

For further information, please contact:

Wassem Khalil, Senior Director, Investor Relations & Strategy
+1 (647) 288-1019
[email protected]


a d v e r t i s e m e n t