CALGARY, May 06, 2020 - Freehold Royalties Ltd. (Freehold) (TSX:FRU) announced today that all nominees listed in its notice of meeting and information circular dated March 16, 2020, were elected as directors of Freehold at its Annual and Special Meeting of Shareholders (the Meeting) held on May 5, 2020. In addition, all other matters considered at the Meeting were approved by Freehold's shareholders.
The results of the votes on the director nominees are as follows:
Nominee
Votes For
Votes Withheld
Number
%
Number
%
Gary R. Bugeaud
65,629,185
94.18
4,054,397
5.82
Peter T. Harrison
68,913,346
98.89
770,236
1.11
J. Douglas Kay
65,579,947
94.11
4,103,635
5.89
Arthur N. Korpach
65,536,269
94.05
4,147,313
5.95
Susan M. MacKenzie
68,108,942
97.74
1,574,640
2.26
Thomas J. Mullane
68,921,235
98.91
762,347
1.09
Marvin F. Romanow
68,663,728
98.54
1,019,854
1.46
Aidan M. Walsh
68,913,482
98.89
770,100
1.11
KPMG LLP was appointed as the auditors of Freehold with 98.12% of the shares represented at the Meeting voting in favour of their appointment.
The resolution to accept Freehold’s approach to executive compensation was approved with 96.90% of the shares represented at the Meeting voting in favour of the resolution.
Shareholders also approved the special resolution reducing the stated capital of the common shares of Freehold by $384 Million, without any payment or distribution to the shareholders. The resolution approving the reduction in stated capital passed with 98.59% of the shares represented at the Meeting voting in favour of such resolution.
Freehold’s primary focus is on acquiring and managing oil and gas royalties. The majority of production comes from royalty interests (mineral title and gross overriding royalties). Freehold’s common shares trade on the Toronto Stock Exchange in Canada under the symbol FRU.
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