CALGARY, May 3, 2018 /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 of Shareholders (the “Meeting”) held on May 3, 2018. The webcast of the Meeting is available on ARC's website at www.arcresources.com.
During the business proceedings of the Meeting, ARC's shareholders approved the following resolutions:
- Resolution to appoint 10 board members, with 93.91 per cent to 99.79 per cent of shares represented at the meeting voting in favour of individual directors as follows:
- Resolution to appoint PricewaterhouseCoopers LLP, Independent Registered Chartered Accountants, as the Corporation's auditors with 99.96 per cent 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 2018 Information Circular – Proxy Statement, with 90.85 per cent of shares represented at the Meeting voting in favour of the advisory resolution.
- Resolution to confirm amendments to ARC's by-laws to include Advance Notice Provisions as disclosed in ARC's 2018 Information Circular – Proxy Statement, with 99.00 per cent of shares represented at the Meeting voting in favour of the resolution.
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Directors |
Approval Percentage |
Withheld Percentage |
||
|
Harold N. Kvisle |
97.84 |
2.16 |
||
|
David R. Collyer |
99.79 |
0.21 |
||
|
John P. Dielwart |
99.54 |
0.46 |
||
|
Fred J. Dyment |
98.13 |
1.87 |
||
|
James C. Houck |
99.73 |
0.27 |
||
|
Kathleen M. O'Neill |
99.79 |
0.21 |
||
|
Herbert C. Pinder, Jr. |
93.91 |
6.09 |
||
|
William G. Sembo |
94.96 |
5.04 |
||
|
Nancy L. Smith |
99.79 |
0.21 |
||
|
Myron M. Stadnyk |
99.72 |
0.28 |
||
Effective May 3, 2018, Mr. Tim Hearn has retired from ARC's Board of Directors after seven years of service. ARC would like to extend its sincere gratitude to Mr. Hearn for the guidance, wisdom and motivation that he provided to the ARC board and management teams over this period. With Mr. Hearn's retirement, ARC announces the following changes to its board committee structure:
- Mr. David Collyer will chair the Human Resources and Compensation Committee.
- Ms. Nancy Smith will chair the Risk Committee.
- Mr. John Dielwart will chair the Safety, Reserves and Operational Excellence Committee, which is a combination of the Health, Safety and Environment Committee and the Reserves Committee, with Operational Excellence added to the Committee's mandate.
These changes will take effect immediately.
ARC is one of Canada's largest conventional oil and gas companies with an enterprise value of approximately $5.7 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.
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