Pacific & Western Bank of Canada (TSX:PWB) (“the Bank”), reports the results of its 2015 Annual and Special Meeting of Shareholders (the "Meeting") held in Toronto, Ontario on March 25, 2015.
Each of the director nominees listed in the Bank's management information circular dated February 19, 2015 were elected as directors of the Bank. The detailed results of the vote are as follows, with percentages rounded to two decimal places:
| Director | Number of | Percentage of | |||||||
| Robbert-Jan Brabander |
In Favour: Withheld: |
17,316,061
800 |
100
0 |
% % | |||||
| David A. Bratton |
In Favour: Withheld: |
17,313,819
2,892 |
99.98
0.02 |
% % | |||||
| Richard W. Carter |
In Favour: Withheld: |
17,315,911
800 |
100
0 |
% % | |||||
| Arnold E. Hillier |
In Favour: Withheld: |
17,315,911
800 |
100
0 |
% % | |||||
| The Honourable Thomas A. Hockin |
In Favour: Withheld: |
17,315,711
1,000 |
99.99
0.01 |
% % | |||||
| Colin E. Litton |
In Favour: Withheld: |
17,315,911
800 |
100
0 |
% % | |||||
| Susan T. McGovern |
In Favour: Withheld: |
17,315,911
800 |
100
0 |
% % | |||||
| Paul G. Oliver |
In Favour: Withheld: |
17,315,911
800 |
100
0 |
% % | |||||
| David R. Taylor |
In Favour: Withheld: |
17,315,911
800 |
100
0 |
% % | |||||
The shareholders confirmed, ratified, authorized and approved the adoption of an advance notice bylaw, being By-Law No. 4 of the Bank (the “Advance Notice By-Law”).
The Advance Notice By-Law provides shareholders, directors and management of the Bank with a clear framework for nominating directors. The Advance Notice By-Law fixes a deadline by which holders of record of shares of the Bank must submit director nominations to the Bank prior to any annual or special meeting of shareholders, and sets forth the information that a shareholder must include in a written notice to the Bank for any director nominee to be eligible for election at such annual or special meeting of shareholders. The Advance Notice By-Law is intended to facilitate orderly and efficient meetings at which directors are to be elected and to provide all shareholders with the opportunity to participate effectively in the election of directors by ensuring they receive sufficient disclosure and time to make appropriate decisions regarding the election of directors.
The Advance Notice By-Law became effective immediately upon approval by the shareholders, and will apply for the next annual or special meeting of shareholders of the Bank at which directors are to be elected. A copy of the by-law has been filed and is available under the Bank's profile at www.sedar.com.
In addition, at the Meeting Shareholders re-appointed KPMG LLP as auditors of the Bank, and approved an amendment to By-Law No. 1 of the Bank to fix the number of directors at nine (9) where applicable law requires cumulative voting or otherwise requires that the number of directors be fixed.
The Bank’s Voting Results with respect to all matters voted upon at the Meeting will be filed on SEDAR at www.sedar.com.
Visit our website at: http://www.pwbank.com
Contacts:
Investor Relations:
Wade
MacBain, Director, 800-244-1509
wadem@pwbank.com
or
Public
Relations & Media:
Tel Matrundola, 416-203-0882
Vice-President
telm@pwbank.com
