CALGARY, April 29, 2016 /CNW/ – (ARX – TSX) ARC Resources Ltd. (“ARC” or the “Corporation”) is pleased to announce that its shareholders approved all resolutions at its Annual and Special Meeting (the “Meeting”) held today, April 29, 2016. The webcast of the Meeting is available on ARC's website at www.arcresources.com.
During the business proceedings at the Meeting, ARC's shareholders approved the following resolutions:
- Resolution to appoint ten board members, with 97.30% to 99.86% of shares represented at the meeting voting in favour of individual directors as follows:
Harold N. Kvisle
John P. Dielwart
Fred J. Dyment
Timothy J. Hearn
James C. Houck
Kathleen M. O'Neill
Herbert C. Pinder, Jr.
William G. Sembo
Nancy L. Smith
Myron M. Stadnyk
- Resolution to appoint Deloitte LLP as the Corporation's auditors, with 99.65% of the shares represented at the meeting voting in favour of the resolution.
- Resolution to accept the Corporation's approach to Executive Compensation (Say on Pay) as disclosed in ARC's 2016 Information Circular – Proxy Statement, with 98.27% of shares represented at the meeting voting in favour of the advisory resolution.
- Resolution to approve a reduction to the stated capital of the Corporation's common shares as described in ARC's 2016 Information Circular – Proxy Statement, with 99.68% of shares represented at the meeting voting in favour of the resolution.
ARC is one of Canada's largest conventional oil and gas companies with an enterprise value of approximately $8.1 billion. ARC's common shares trade on the TSX under the symbol ARX.
ARC RESOURCES LTD.
Myron M. Stadnyk
President and Chief Executive Officer
SOURCE ARC Resources Ltd.