Kelso Technologies Inc. Announces 2024 Annual General and Special Meeting Results
07 Juni 2024 - 3:00PM
Kelso Technologies Inc. (“
Kelso” or the
“
Company”), (TSX: KLS) is pleased to announce the
detailed voting results from the Annual General and Special Meeting
of shareholders held on June 6, 2024 (the
“
Meeting”).
A total of 26,741,861 common shares of the
54,443,422 common shares outstanding at the record date were voted
at the Meeting, representing 49.12% of the issued and outstanding
common shares of the Company at the record date.
Election of Directors
At the Meeting, the shareholders set the number
of directors to be elected at six, with 82.54% For and 17.46%
Against.
Each of the following nominees set forth in the
Company’s management information circular dated May 3, 2024, was
elected as a director of the Company to hold office until the next
annual meeting of shareholders or until their successors are
elected or appointed:
Nominee |
% Votes For |
% Votes Withheld |
James R. Bond |
31.92% |
68.08% |
Anthony Andrukaitis |
72.97% |
27.03% |
Paul Cass |
82.89% |
17.11% |
Laura Roach |
75.75% |
24.25% |
Jesse V. Crews |
75.98% |
24.02% |
Frank Busch |
75.98% |
24.02% |
Given that Mr. James R. Bond received less than
majority support at the Meeting, in accordance with the Company’s
Majority Voting Policy, Mr. Bond has tendered his resignation as a
director of the Company. The board of directors of Kelso (the
“Board”) will, in accordance with the Majority
Voting Policy, make a determination whether or not to accept such
resignation. A further update will be provided promptly following
the Board’s determination. Mr. Bond will not participate in any
meetings of the Board or any sub-committee of the Board at which
his resignation is considered.
At the Meeting the shareholders also approved
the reappointment of Smythe, LLP as the auditors of the Company,
89.30% For and 10.70% Withheld.
Equity Incentive Plans
At the Meeting, the adoption of the omnibus
equity incentive plan was not approved, with 24.54% For and 75.46%
Against. The approval of the unallocated stock options issuable
pursuant to the incentive stock option plan was not approved with
25.07% For and 74.93% Against. The approval of the unallocated
restricted share units issuable pursuant to the restricted share
unit plan was not approved with 25.07% For and 74.93% Against. In
addition, the approval of the unallocated deferred share units
issuable pursuant to the deferred share unit plan was not approved
with 25.03% For and 74.97% Against.
After the Meeting the following officers were
appointed:
James R. Bond –
President and Chief Executive OfficerRichard Lee – Chief Financial
OfficerAnthony Andrukaitis – Chief Operating OfficerKathy Love –
Corporate SecretaryAmanda Smith, Vice President Operations, Kelso
Technologies (USA) Inc.Patrick Hankey, Controller, Kelso
Technologies (USA) Inc.Chris Stewart, President, KIQ X Industries
Ltd.
About Kelso Technologies
Kelso is a diverse product development company
that specializes in the design, engineering, production and
distribution of proprietary service equipment used in
transportation applications. The Company’s reputation has been
earned as a designer and reliable supplier of unique high-quality
rail tank car valve equipment that provides for the safe handling
and containment of hazardous and non-hazardous commodities during
transport. All Kelso products are specifically designed to provide
economic and operational advantages to customers while reducing the
potential effects of human error and environmental harm.
For a more complete business and financial
profile of the Company, please view the Company's website at
www.kelsotech.com and public documents posted under the Company’s
profile on www.sedar.com in Canada and on EDGAR at www.sec.gov in
the United States.
On behalf of the Board of
Directors,
James R. Bond, President and Chief Executive
Officer
Legal Notice Regarding Forward-Looking
Statements
This news release contains “forward-looking
statements” within the meaning of applicable securities
legislation. Forward-looking statements are indicated expectations
or intentions. Forward-looking statements in this news release
include the determination of the Board of whether to accept Mr.
Bond’s resignation as a director of the Company and the expected
timing thereof. Although Kelso believes the Company’s anticipated
future results, performance or achievements expressed or implied by
the forward-looking statements and information are based upon
reasonable assumptions and expectations, they can give no assurance
that such expectations will prove to be correct. The reader should
not place undue reliance on forward-looking statements and
information as such statements and information involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Kelso to differ
materially from anticipated future results, performance or
achievement expressed or implied by such forward-looking statements
and information. Except as required by law, the Company does not
intend to update the forward-looking information and
forward-looking statements contained in this news release.
For further information, please contact:
James R. Bond, President and CEO |
Richard Lee, Chief Financial Officer |
Corporate Address: |
Email: bond@kelsotech.com |
Email: lee@kelsotech.com |
13966 - 18B AvenueSouth Surrey, BC V4A8J1www.kelsotech.com |
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