Neptune Announces Results of Annual Meeting and Elections of its Directors

Rhea-AI Summary

Neptune Wellness Solutions announced the results from its annual meeting held virtually on August 12, 2020. Key outcomes included the election of directors, with John M. Moretz receiving 97.6% of votes in favor, and Joseph Buaron securing 98.6%. Ernst & Young was appointed as the auditors for the upcoming year with 99.3% support. The company continues to focus on plant-based wellness brands and aims to adapt to market demands while maintaining a strong position in the cannabis and hemp sectors.

Positive

• High approval rates for elected directors: Moretz (97.6%), Buaron (98.6%), Cammarata (90.3%).
• Appointment of Ernst & Young as auditors with 99.3% support.

Negative

• Cammarata received only 90.3% approval, indicating some shareholder dissent.
• Ronald Denis faced significant opposition with 25.4% votes withheld.

LAVAL, QC, Aug. 14, 2020 /PRNewswire/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, announced  the voting results for the matters listed in its management proxy circular dated July 16, 2020 held at its annual meeting of shareholders, which took place virtually on August 12,  2020 (the "AGM").

Election of Directors

According to proxies received and a vote by poll at the meeting, the following individuals were elected as directors of Neptune until the next annual meeting of shareholders, with the following results:  

Nominee	Votes For	% Votes For	Votes Withheld	% Votes Withheld
John M. Moretz	29,679,735	97.6%	736,756	2.4%
Joseph Buaron	29,989,479	98.6%	427,012	1.4%
Michael Cammarata	27,472,165	90.3%	2,944,326	9.7%
Ronald Denis	22,702,327	74.6%	7,714,164	25.4%
Michael de Geus	30,211,169	99.3%	205,322	0.7%
Jane Pemberton	30,151,899	99.1%	264,592	0.9%
Frank Rochon	30,156,703	99.2%	259,788	0.9%
Richard Schottenfeld	29,542,961	97.1%	873,530	2.9%

Appointment of Auditors

According to proxies received and a vote by poll at the meeting, Ernst & Young, LLP, Chartered Professional Accountants, were appointed as the Corporation's auditors for the ensuing year and the Board of Directors of the Company were authorized to fix their remuneration, with the following results:

Ernst & Young, LLP	Votes in Favor	% In Favor	Votes Withheld	% Withheld
	56,257,820	99.3%	392,189	0.7%

About Neptune Wellness Solutions Inc.

Neptune Wellness Solutions is a diversified and fully integrated health and wellness company.  With a mission to redefine health and wellness, Neptune is focused on building a broad portfolio of high quality, affordable consumer products in response to long-term secular trends and market demand for natural, plant-based, sustainable and purpose-driven lifestyle brands. The Company utilizes a highly flexible, cost-efficient manufacturing and supply chain infrastructure that can be scaled up and down or into adjacent product categories to identify new innovation opportunities, quickly adapt to consumer preferences and demand, and bring new products to market through its mass retail partners and e-commerce channels.  Leveraging decades of expertise in extraction and product formulation, Neptune is a leading provider of turnkey product development and supply chain solutions to business customers across several health and wellness verticals, including legal cannabis and hemp, nutraceuticals and white label consumer packaged goods. The Company has a strong position in cannabis and hemp with research, development and commercialization focused on the use of cannabinoids in household products to make them safer, healthier and more effective.  Neptune's corporate headquarters is located in Laval, Quebec, with a 50,000-square-foot production facility located in Sherbrooke, Quebec and a 24,000 square-foot facility located in North Carolina.  For additional information, please visit: https://neptunecorp.com/

Forward Looking Statements

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the U.S. securities laws and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Neptune to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "projects", "anticipates", "will", "should" or "plans" to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement and the "Cautionary Note Regarding Forward-Looking Information" section contained in Neptune's latest Annual Information Form (the "AIF"), which also forms part of Neptune's latest annual report on Form 40-F, and which is available on SEDAR at www.sedar.com, on EDGAR at https://www.sec.gov/edgar.shtml and on the investor section of Neptune's website at www.neptunecorp.com. All forward-looking statements in this press release are made as of the date of this press release. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Neptune public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions and risks and uncertainties is contained in the AIF under "Risk Factors".

Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Neptune Wellness Solutions Inc.

FAQ

What were the voting results for directors at Neptune's annual meeting on August 12, 2020?

John M. Moretz was elected with 97.6%, Joseph Buaron with 98.6%, and Michael Cammarata with 90.3%. Ronald Denis received only 74.6% approval.

Who was appointed as auditors for Neptune Wellness in 2020?

Ernst & Young was appointed as auditors with 99.3% of votes in favor.

What is the significance of the high approval rates for Neptune’s directors?

High approval rates indicate strong shareholder support and confidence in the management team.

What trends does Neptune Wellness focus on?

Neptune emphasizes plant-based, sustainable, and purpose-driven lifestyle brands.