Global Water Resources Reports Results of Director Election

Rhea-AI Summary

Global Water Resources Inc. (NASDAQ: GWRS) announced the election results for its 2021 Annual Meeting of Stockholders. All nominated Directors were elected, with Ron L. Fleming receiving 95.29% of votes cast. The appointment of Deloitte & Touche LLP as the independent auditor for the fiscal year 2021 was ratified with 99.84% support. A total of 19,197,507 shares were voted out of 22,587,996 eligible shares. The company operates 16 utilities mainly around Phoenix and is noted for its Total Water Management approach, recycling nearly 1 billion gallons of water annually.

Positive

• All nominated Directors were elected with significant support, enhancing board stability.
• Deloitte & Touche LLP was appointed as the independent auditor, reflecting continued governance practices.
• The company operates in growing areas and manages 16 utilities, positioning it well for future growth.

Negative

• Out of 22,587,996 eligible shares, only 19,197,507 shares were voted, indicating potential shareholder disengagement.

PHOENIX, May 07, 2021 (GLOBE NEWSWIRE) -- Global Water Resources Inc., ("the Company"), (NASDAQ: GWRS), (TSX: GWR), announced that the nominees listed in the Proxy Statement, dated March 29, 2021, for the 2021 Annual Meeting of Stockholders ("the Meeting") were selected as Directors of the Company. As of the March 17, 2021 record date for the determination of the shareholders entitled to notice of and to vote at the meeting, 22,587,996 shares of common stock were outstanding and eligible to vote. A total of 19,197,507 shares were voted in person or by proxy at the meeting. The results of the vote for the election of the Directors at the Meeting were as follows:

	Votes For		% of Total Shares Voted			Votes Withheld		% of Total Shares Voted			Broker Non- Votes		% of Total Shares Voted
Ron L. Fleming	18,292,901		95.29%			114,499		0.60%			790,107		4.12%
Richard M. Alexander	15,020,223		78.24%			3,387,177		17.64%			790,107		4.12%
Debra G. Coy	15,719,846		81.88%			2,687,554		14.00%			790,107		4.12%
Brett Huckelbridge	18,210,361		94.86%			197,039		1.03%			790,107		4.12%
David Rousseau	18,300,515		95.33%			106,885		0.56%			790,107		4.12%
Jonathan L. Levine	18,291,189		95.28%			116,211		0.61%			790,107		4.12%
Andrew M. Cohen	18,275,545		95.20%			131,855		0.69%			790,107		4.12%

In addition, at the Meeting, the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2021 was ratified. The results of the vote were as follows:

Votes For	% of Total Shares Voted			Votes Against	% of Total Shares Voted			Abstentions	% of Total Shares Voted			Broker Non- Votes	% of Total Shares Voted
19,166,090	99.84%			3,611	0.02%			27,806	0.14%			—	—%

About Global Water Resources

Global Water Resources, Inc. is a leading water resource management company that owns and operates 16 utilities which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles nearly 1 billion gallons of water annually.

The company has been recognized for its highly effective implementation of Total Water Management (TWM). TWM is an integrated approach to managing the entire water cycle by owning and operating water, wastewater, and recycled water utilities within the same geographic area in order to maximize the beneficial use of recycled water. TWM includes additional smart water management programs such as remote metering infrastructure and other advanced technologies, rate designs, and incentives that result in real conservation. TWM helps protect water supplies in water-scarce areas experiencing population growth. To learn more, visit www.gwresources.com.

Company Contact:
Michael J. Liebman
SVP and CFO
Tel (480) 999-5104
mike.liebman@gwresources.com

Investor Relations:
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566
GWRS@cma.team

FAQ

What were the results of the Global Water Resources 2021 Annual Meeting?

All nominees were elected as Directors, with significant votes for each.

Who was appointed as the independent auditor for Global Water Resources in 2021?

Deloitte & Touche LLP was appointed as the independent auditor.

How many shares were voted at the Global Water Resources Annual Meeting?

A total of 19,197,507 shares were voted out of 22,587,996 eligible shares.

What is Global Water Resources' recycling capacity?

The company recycles nearly 1 billion gallons of water annually.

How does Global Water Resources manage water resources?

The company employs a Total Water Management approach to maximize recycled water use.