NuVista Energy Ltd.: Report on Voting From the 2016 Shareholders Meeting
May 12, 2016 at 06:12 am IST
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CALGARY, ALBERTA--(Marketwired - May 11, 2016) - NuVista Energy Ltd. ("NuVista") (TSX:NVA) announces that the following matters were approved at the annual and special meeting of the shareholders of NuVista held on May 11, 2016 in Calgary, Alberta. Each of the matters is described in greater detail in the Notice of Annual and Special Meeting of Shareholders and Information Circular dated March 24, 2016 (the "Circular").
1. Fixing the Number of Directors
By resolution passed via ballot, the number of directors to be elected at the meeting was fixed at nine members. The results of the ballot were as follows:
Votes For
Percent
Votes Against
Percent
131,887,143
99.69
%
407,015
0.31
%
2. Election of Directors
By resolution passed via ballot, the following nine nominees were appointed as directors of NuVista to serve until the next annual meeting of shareholders of NuVista, or until their successors are elected or appointed. The results of the ballot were as follows:
Name of Nominee
Votes For
Percent
Votes Withheld
Percent
Keith A. MacPhail
131,648,443
99.59
%
545,841
0.41
%
W. Peter Comber
131,804,802
99.71
%
389,482
0.29
%
Ronald J. Eckhardt
132,095,159
99.93
%
99,125
0.07
%
Pentti O. Karkkainen
131,804,730
99.71
%
389,554
0.29
%
Ronald J. Poelzer
131,330,126
99.35
%
864,158
0.65
%
Brian G. Shaw
132,076,159
99.91
%
118,125
0.09
%
Sheldon B. Steeves
131,531,118
99.50
%
663,166
0.50
%
Jonathan A. Wright
131,785,181
99.69
%
409,103
0.31
%
Grant A. Zawalsky
115,872,463
87.65
%
16,321,821
12.35
%
3. Appointment of Auditors
By resolution passed via ballot, KPMG LLP, Chartered Accountants, were appointed as auditors of NuVista to hold office until close of the next annual meeting or until their successors are duly appointed, and the directors were authorized to fix their remuneration. The results of the ballot were as follows:
Votes For
Percent (%)
Votes Withheld
Percent)
131,933,563
99.73
%
360,596
0.27
%
4. Non-Binding Advisory Resolution on Executive Compensation
By advisory resolution passed via ballot, NuVista's approach to executive compensation was approved. The results of the ballot were as follows:
Votes For
Percent
Votes Against
Percent
131,292,511
99.32
%
901,773
0.68
%
5. Approval of Amendments to Stock Option Plan
By ordinary resolution passed via ballot, certain amendments to NuVista's stock option plan were approved. The results of the ballot were as follows:
Votes For
Percent
Votes Against
Percent
109,397,841
82.76
%
22,796,443
17.24
%
6. Approval of Directors' Deferred Share Unit Plan
By ordinary resolution passed via ballot, NuVista's Directors' Deferred Share Unit Plan was approved. The results of the ballot were as follows:
Votes For
Percent
Votes Against
Percent
117,377,532
88.79
%
14,816,752
11.21
%
INVESTOR INFORMATION
NuVista is an independent Canadian oil and natural gas exploration, development and production corporation with its Common Shares trading on the Toronto Stock Exchange under the symbol "NVA".
NuVista Energy Ltd. is an oil and natural gas company, which is engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Its primary focus is on the scalable and repeatable condensate rich Montney formation in the Alberta Deep Basin (Wapiti Montney). Its core operating areas of Wapiti and Pipestone in the Montney formation are located near the City of Grande Prairie, Alberta, approximately 600 kilometers northwest of Calgary. Its Montney Formation is a shale gas and shale oil resource. The Montney formation in the Wapiti area is a thick (200m+) section of hydrocarbon-charted fine-grained reservoir found at depths ranging from 2,500-3,500m.