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Algoma Steel Announces Results of Voting at Annual Meeting of Shareholders

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Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) held its virtual annual meeting of shareholders on September 24, 2024. The company announced that all nominees listed in the management information circular were elected as directors. Detailed voting results for each nominee were provided, showing strong support across the board.

Additionally, shareholders approved the appointment of Deloitte LLP as the company's auditors for the 2024 fiscal year. The non-binding advisory resolution on executive compensation was also approved by a majority of votes. The full report of voting results is available on SEDAR+ and the SEC's EDGAR website.

Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) ha tenuto la sua riunione annuale virtuale degli azionisti il 24 settembre 2024. L'azienda ha annunciato che tutti i candidati elencati nel circolare informativo della direzione sono stati eletti come direttori. Sono stati forniti dettagli sui risultati di voto per ciascun candidato, evidenziando un forte sostegno da parte degli azionisti.

Inoltre, gli azionisti hanno approvato la nomina di Deloitte LLP come revisore dei conti dell'azienda per l'anno fiscale 2024. La risoluzione consultiva non vincolante sulla retribuzione dei dirigenti è stata approvata anche dalla maggioranza dei voti. Il rapporto completo sui risultati del voto è disponibile su SEDAR+ e sul sito EDGAR della SEC.

Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) celebró su reunión anual virtual de accionistas el 24 de septiembre de 2024. La compañía anunció que todos los nominados listados en el circulador de información de la gerencia fueron elegidos como directores. Se proporcionaron detalles de los resultados de votación para cada nominado, mostrando un fuerte apoyo en general.

Además, los accionistas aprobaron el nombramiento de Deloitte LLP como auditores de la empresa para el año fiscal 2024. La resolución consultiva no vinculante sobre la compensación ejecutiva también fue aprobada por la mayoría de los votos. El informe completo de los resultados de la votación está disponible en SEDAR+ y en el .

Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL)는 2024년 9월 24일에 주주 가상 연례 회의를 개최했습니다. 회사는 관리 정보 순환에 기재된 모든 후보자가 이사로 선출되었다고 발표했습니다. 각 후보자에 대한 상세한 투표 결과가 제공되어 전반적으로 강한 지지를 보여주었습니다.

또한, 주주들은 Deloitte LLP를 2024 회계연도 회사 감사인으로 임명하는 것을 승인했습니다. 경영진 보상에 대한 비구속적 자문 결의안도 과반수의 찬성으로 승인되었습니다. 투표 결과의 전체 보고서는 SEDAR+SEC의 EDGAR 웹사이트에서 확인할 수 있습니다.

Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) a tenu sa réunion annuelle virtuelle des actionnaires le 24 septembre 2024. L'entreprise a annoncé que tous les candidats listés dans le document d'information de la direction ont été élus en tant qu'administrateurs. Des résultats de vote détaillés pour chaque candidat ont été fournis, montrant un solide soutien de l'ensemble des actionnaires.

De plus, les actionnaires ont approuvé la nomination de Deloitte LLP en tant qu'auditeurs de l'entreprise pour l'exercice 2024. La résolution consultative non contraignante sur la rémunération des dirigeants a également été approuvée par une majorité de voix. Le rapport complet des résultats de vote est disponible sur SEDAR+ et sur le site EDGAR de la SEC.

Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) hielt am 24. September 2024 seine virtuelle Hauptversammlung der Aktionäre ab. Das Unternehmen gab bekannt, dass alle in der Informationsrunde der Geschäftsführung aufgeführten Kandidaten als Direktoren gewählt wurden. Detaillierte Abstimmungsergebnisse für jeden Kandidaten wurden bereitgestellt, die eine starke Unterstützung im gesamten Gremium zeigten.

Darüber hinaus genehmigten die Aktionäre die Ernennung von Deloitte LLP als Wirtschaftsprüfer des Unternehmens für das Geschäftsjahr 2024. Der nicht verbindliche Beratungsbeschluss zur Vergütung der Führungskräfte wurde ebenfalls mit der Mehrheit der Stimmen genehmigt. Der vollständige Bericht über die Abstimmungsergebnisse ist auf SEDAR+ und der EDGAR-Website der SEC verfügbar.

Positive
  • All nominated directors were successfully elected
  • Shareholders approved the appointment of Deloitte LLP as auditors
  • Non-binding advisory resolution on executive compensation was approved
Negative
  • None.

SAULT STE. MARIE, Ontario, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today the results of voting at its virtual annual meeting of shareholders held on September 24, 2024 (the “Meeting”).

All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below:

NomineeVotes ForVotes WithheldTotal Votes
Mary Anne Bueschkens62,437,35077,69862,515,048
Sean Donnelly62,484,96030,08862,515,048
Michael Garcia62,484,66030,38862,515,048
James Gouin62,484,60030,44862,515,048
Andy Harshaw62,484,77530,27362,515,048
Ave G. Lethbridge62,480,37434,67462,515,048
Sanjay Nakra62,436,84778,20162,515,048
Eric S. Rosenfeld59,574,0002,941,04862,515,048
Gale Rubenstein62,148,862366,18662,515,048
David D. Sgro62,301,432213,61662,515,048


The Company reports that the appointment of Deloitte LLP as the Company’s auditors for the 2024 fiscal year was passed by a majority of the votes represented at the Meeting.

The Company also reports that the non-binding advisory resolution on executive compensation, outlined in the management information circular dated August 1, 2024, was approved by a majority of votes at the Meeting. The circular is available on SEDAR+ and the Securities and Exchange Commission’s (“SEC”) EDGAR website.

The Company’s full report of voting results on matters presented at the Meeting can be found under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking information” under applicable Canadian securities legislation and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”), including statements regarding Algoma’s transition to electric arc furnace (EAF) steelmaking, Algoma’s future as a leading producer of green steel, Algoma’s modernization of its plate mill facilities, transformation journey, ability to deliver greater and long-term value, ability to offer North America a secure steel supply and a sustainable future, and investment in its people, and processes. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “design,” “pipeline,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. Readers should also consider the other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Information” in Algoma’s Annual Information Form, filed by Algoma with applicable Canadian securities regulatory authorities (available under the company’s SEDAR+ profile at www.sedarplus.com) and with the SEC, as part of Algoma’s Annual Report on Form 40-F (available at www.sec.gov), as well as in Algoma’s current reports with the Canadian securities regulatory authorities and SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Algoma assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

About Algoma Steel Group Inc.
Based in Sault Ste. Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate. Driven by a purpose to build better lives and a greener future, Algoma is positioned to deliver responsive, customer-driven product solutions to applications in the automotive, construction, energy, defense, and manufacturing sectors. Algoma is a key supplier of steel products to customers in North America and is the only producer of discrete plate products in Canada. Its state-of-the-art Direct Strip Production Complex (“DSPC”) is one of the lowest-cost producers of hot rolled sheet steel (HRC) in North America.

Algoma is on a transformation journey, modernizing its plate mill and adopting electric arc technology that builds on the strong principles of recycling and environmental stewardship to significantly lower carbon emissions. Today Algoma is investing in its people and processes, working safely, as a team to become one of North America's leading producers of green steel.

As a founding industry in their community, Algoma is drawing on the best of its rich steelmaking tradition to deliver greater value, offering North America the comfort of a secure steel supply and a sustainable future as your partner in steel.

For more information, please contact:

Michael Moraca
Vice President – Corporate Development and Treasurer
Algoma Steel Group Inc.
Phone: 705.945-3300
E-mail: IR@algoma.com


FAQ

When was Algoma Steel's (ASTL) annual shareholder meeting held in 2024?

Algoma Steel's (ASTL) annual shareholder meeting was held virtually on September 24, 2024.

Who was appointed as Algoma Steel's (ASTL) auditor for the 2024 fiscal year?

Deloitte LLP was appointed as Algoma Steel's (ASTL) auditor for the 2024 fiscal year.

Was the advisory resolution on executive compensation approved at Algoma Steel's (ASTL) 2024 annual meeting?

Yes, the non-binding advisory resolution on executive compensation was approved by a majority of votes at Algoma Steel's (ASTL) 2024 annual meeting.

Where can investors find the full voting results for Algoma Steel's (ASTL) 2024 annual meeting?

The full voting results for Algoma Steel's (ASTL) 2024 annual meeting can be found on SEDAR+ and the SEC's EDGAR website.

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Sault Ste. Marie