Foraco Announces Election of Directors
Toronto, Ontario and Marseille, France–(Newsfile Corp. – May 10, 2022) – Foraco International SA (TSX: FAR) (the “Company” or “Foraco”), in accordance with Toronto Stock Exchange (“TSX”) requirements, announces the voting results at the extraordinary and ordinary meeting of shareholders of the Company held on May, 10, 2022 in Marseille, France (the “Meeting”).
In accordance with French law, shareholders of the Company, when voting in elections for directors, are given the option to vote “for” or “against/abstain” for the director nominees, meaning that it is not possible for nominees for directors to receive a majority of “withhold” votes. The director nominees, as listed in the Company’s management proxy circular, were elected as directors of the Company at the Meeting. The proxy votes submitted for each director were as follows:
Daniel Simoncini
| Shareholders | PRESENT | POWERS | PROXIES | Total votes | % of votes for | RESULT |
| FOR | 283,899 | 60,983,843 | 13,577,997 | 74,845,739 | 99.99% | Adopted |
| AGAINST | 5,100 | 5,100 | 0.01% | |||
| ABSTAIN |
Jean-Pierre Charmensat
| Shareholders | PRESENT | POWERS | PROXIES | Total votes | % of votes for | RESULT |
| FOR | 283,899 | 60,983,843 | 12,967,368 | 74,235,110 | 99.18% | Adopted |
| AGAINST | 615,729 | 615,729 | 0.82% | |||
| ABSTAIN |
Bruno Chabas
| Shareholders | PRESENT | POWERS | PROXIES | Total votes | % of votes for | RESULT |
| FOR | 283,899 | 60,983,843 | 12,756,648 | 74,024,390 | 98.90% | Adopted |
| AGAINST | 826,449 | 826,449 | 1.10% | |||
| ABSTAIN |
Warren Holmes
| Shareholders | PRESENT | POWERS | PROXIES | Total votes | % of votes for | RESULT |
| FOR | 283,899 | 60,983,843 | 12,756,648 | 74,024,390 | 98.90% | Adopted |
| AGAINST | 826,449 | 826,449 | 1.10% | |||
| ABSTAIN |
Jorge Hurtado
| Shareholders | PRESENT | POWERS | PROXIES | Total votes | % of votes for | RESULT |
| FOR | 283,899 | 60,983,843 | 12,756,648 | 74,024,390 | 98.90% | Adopted |
| AGAINST | 826,449 | 826,449 | 1.10% | |||
| ABSTAIN |
Diercxsens Investment & Advisory BV
| Shareholders | PRESENT | POWERS | PROXIES | Total votes | % of votes for | RESULT |
| FOR | 283,899 | 60,983,843 | 12,756,648 | 74,024,390 | 98.90% | Adopted |
| AGAINST | 826,449 | 826,449 | 1.10% | |||
| ABSTAIN |
In addition, the Meeting voted 99.99 % in favour of the Company declaring a nil dividend for the 2021 fiscal year.
The Company’s statutory filings, including its complete report of voting results from the Meeting, are available at www.sedar.com.
About Foraco
Foraco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third largest global drilling enterprise with a presence in 22 countries across five continents. For more information about Foraco, visit www.foraco.com or please contact:
Fabien Sevestre
Email: [email protected]
Tel: (705) 495-6363
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