Electrovaya Announces Results of Annual and Special Meeting of Shareholders

Rhea-AI Summary

Electrovaya Inc. (TSX:EFL, OTCQB:EFLVF) announced that all resolutions were approved at its 2023 Annual and Special Meeting held on March 24, 2023. All five directors, including Dr. Sankar Das Gupta and Dr. Carolyn Hansson, were elected with over 98% approval. Goodman & Associates LLP was re-appointed as auditors, and a special resolution for share consolidation passed with 98.92% support. This meeting reinforces shareholder confidence and outlines Electrovaya's commitment to governance. For more details, visit SEDAR.

Positive

• All shareholder resolutions approved with over 98% votes.
• Directors elected with strong support, indicating high shareholder confidence.
• Re-appointment of auditors Goodman & Associates LLP maintains financial oversight.
• Special resolution for share consolidation passed, potentially enhancing share value.

Negative

• None.

TORONTO, ON / ACCESSWIRE / March 27, 2023 / Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) (the "Company") is pleased to announce that all of the resolutions that shareholders were asked to consider at its 2023 Annual and Special Meeting held on March 24^th, 2023 in Toronto, Ontario, were approved. The five directors named in the management information circular of the Company, being Dr. Sankar Das Gupta, Dr. Raj Das Gupta, Dr. James Jacobs, Dr. Carolyn Hansson and Mr. Kartick Kumar, were each elected as directors by over 98% of the votes cast for and less than 2% of the votes withheld at the Meeting for each director individually. Detailed results of the vote are set out below:

Nominee	Votes For	Votes Withheld	Percentage of Votes For	Percentage of Votes Withheld
Dr. Sankar Das Gupta	80,810,512	835,279	98.98%	1.02%
Dr. Carolyn Hansson	80,366,705	1,279,086	98.43%	1.57%
Dr. James K. Jacobs	81,131,465	514,326	99.37%	0.63%
Mr. Kartick Kumar	81,071,191	574,600	99.30%	0.70%
Dr. Raj DasGupta	81,129,985	515,806	99.37%	0.63%

Goodman & Associates LLP, were re-appointed as the auditors of the Company.

The special resolution to approve the consolidation of the common shares at the board's discretion was passed with 98.92% voting in favour and 1.08% voting against the resolution.

Additional details are included in the report of voting results filed under the Company's profile on SEDAR at www.sedar.com.

For more information, please contact:
Jason Roy
Director, Corporate Development and Investor Relations
Electrovaya Inc.
905-855-4618
jroy@electrovaya.com

About Electrovaya Inc.
Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. Electrovaya is a technology-focused company with extensive IP, designs, develops, and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.

SOURCE: Electrovaya, Inc.

View source version on accesswire.com:
https://www.accesswire.com/746059/Electrovaya-Announces-Results-of-Annual-and-Special-Meeting-of-Shareholders

FAQ

What were the outcomes of Electrovaya's 2023 Annual and Special Meeting?

All resolutions proposed were approved, including the election of five directors with over 98% support.

Who were elected as directors at Electrovaya's 2023 meeting?

Directors elected include Dr. Sankar Das Gupta, Dr. Raj Das Gupta, Dr. James Jacobs, Dr. Carolyn Hansson, and Mr. Kartick Kumar.

What percentage of votes supported the consolidation of shares in Electrovaya?

The consolidation of shares received 98.92% support from shareholders.

When was Electrovaya's 2023 Annual and Special Meeting held?

The meeting took place on March 24, 2023, in Toronto, Ontario.

Which firm was re-appointed as Electrovaya's auditors?

Goodman & Associates LLP was re-appointed as the auditors of Electrovaya.