TORONTO, ONTARIO–(Marketwired – May 16, 2016) – Chesswood Group Limited (“Chesswood” or the “Company”) (TSX:CHW) announced today the voting results for the election of its Board of Directors, which took place at the Company’s Annual and Special Meeting held on May 16, 2016. Issuers listed on the Toronto Stock Exchange are required to issue a news release providing this information. A total of approximately 10,718,547 shares (approximately 60.39% of 17,749,248 outstanding voting shares) were represented in person or by proxy.
The nominees listed in the management proxy circular dated March 28, 2016 were elected as directors of Chesswood at the meeting. Detailed results of the votes are set out below:
| Votes For | % For | Votes Withheld | % Withheld | |||||
| Clare R. Copeland | 9,929,732 | 94.93 | 530,346 | 5.07 | ||||
| Robert J. Day | 10,453,878 | 99.94 | 6,200 | 0.06 | ||||
| Samuel L. Leeper | 10,435,920 | 99.77 | 24,158 | 0.23 | ||||
| David Obront | 9,931,632 | 94.95 | 528,446 | 5.05 | ||||
| Barry Shafran | 10,255,009 | 98.04 | 205,069 | 1.96 | ||||
| Frederick Steiner | 9,929,632 | 94.93 | 530,446 | 5.07 | ||||
| Daniel Wittlin | 10,243,285 | 97.93 | 216,793 | 2.07 |
At the Annual and Special Meeting, the shareholders of the Company also approved (i) the appointment of the auditors and authorized the directors to fix their remuneration and (ii) ratification of the equity incentive plan. The voting results on each resolution are set out below:
| Appointment of Auditor | ||||||||
| Outcome of the Vote | Votes by Ballot | |||||||
| Votes For | % For | Votes Withheld | % Withheld | |||||
| Carried | 10,693,054 | 99.81 | 20,678 | 0.19 | ||||
| Ratification of Equity Incentive Plan | ||||||||
| Outcome of the Vote | Votes by Ballot | |||||||
| Votes For | % For | Votes Against | % Against | |||||
| Carried | 8,519,800 | 81.45 | 1,940,278 | 18.55 | ||||
Chesswood also announced that in connection with the election of directors at the Annual and Special Meeting the number of directors decreased from 8 to 7.
About Chesswood Group Limited
Chesswood Group Limited is a financial services company with operating businesses in both Canada and the U.S.
To learn more about Chesswood Group Limited, visit www.ChesswoodGroup.com.
The separate websites of Chesswood Group Limited’s operating businesses are at www.PawneeLeasing.com, www.BlueChipLeasing.com and www.WindsetCapital.com
This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
