North American Construction Group Ltd. Announces Voting Results of Annual and Special Meeting of Shareholders

Rhea-AI Summary

North American Construction Group Ltd. held its Annual and Special Meeting of Shareholders on May 5, 2021. Shareholders overwhelmingly approved the election of directors, including Martin R. Ferron and John J. Pollesel, with support ranging from 87.12% to 99.91%. KPMG LLP was appointed as the independent auditors. An advisory vote on executive compensation passed with 80.15% approval. Additionally, shareholders approved unallocated options in the Share Option Plan with 65.22% approval.

Positive

• Election of board members passed with high shareholder support, indicating confidence in leadership.
• Appointment of KPMG LLP as auditors received 99.93% approval, reflecting trust in financial oversight.
• Advisory vote on executive compensation was largely accepted, showing shareholder approval of management's approach.

Negative

• Approval of unallocated options under the Share Option Plan only achieved 65.22%, indicating some shareholder concern.

ACHESON, Alberta, May 07, 2021 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. (“NACG” or “the Company”) (TSX:NOA/NYSE:NOA) today announced the results of its Annual and Special Meeting of Shareholders held on May 5, 2021. Shareholders elected directors, approved the appointment of KPMG LLP as the independent auditors of the Company, approved a non-binding advisory vote regarding the Company’s approach to executive compensation and approved unallocated options under the Company Share Option Plan. The following are the results of the votes held at the meeting:

	Outcome	Votes For	Withheld or Against
Election of Martin R. Ferron as director	Passed	98.60%	1.40%
Election of Joseph C. Lambert as director	Passed	98.41%	1.59%
Election of Ronald A. McIntosh as director	Passed	87.12%	12.88%
Election of Bryan D. Pinney as director	Passed	97.77%	2.23%
Election of John J. Pollesel as director	Passed	99.91%	0.09%
Election of Maryse C. Saint-Laurent as director	Passed	97.90%	2.10%
Election of Thomas P. Stan as director	Passed	98.40%	1.60%
Election of Kristina E. Williams as director	Passed	99.75%	0.25%
Appointment of KPMG LLP as auditors of the Company for the ensuing year and the authorization of the directors to fix their remuneration	Passed	99.93%	0.07%
Approval of the non-binding advisory resolution to accept the approach to executive compensation disclosed in the management information circular delivered in advance of the meeting	Passed	80.15%	19.85%
Approval of unallocated options under the Company’s Share Option Plan	Passed	65.22%	34.78%

About the Company
North American Construction Group Ltd. (www.nacg.ca) is one of Canada’s largest providers of heavy civil construction and mining contractors. For more than 65 years, NACG has provided services to large oil, natural gas and resource companies.

For further information contact:

Jason Veenstra, CPA, CA
Chief Financial Officer
North American Construction Group Ltd.
(780) 948-2009
jveenstra@nacg.ca
www.nacg.ca

FAQ

What were the results of North American Construction Group's shareholder meeting on May 5, 2021?

During the shareholder meeting, all proposed resolutions, including the election of directors and appointment of auditors, passed with significant support.

Who were the newly elected directors of North American Construction Group in 2021?

The newly elected directors include Martin R. Ferron, Joseph C. Lambert, Ronald A. McIntosh, and others.

What percentage of shareholders approved KPMG as auditors for North American Construction Group?

KPMG LLP was approved as auditors with 99.93% of votes in favor.

What was the outcome of the executive compensation advisory vote at the May 2021 meeting?

The non-binding advisory vote on executive compensation was approved by 80.15% of shareholders.

What concerns were raised during the Share Option Plan approval at North American Construction Group's meeting?

The approval of unallocated options under the Share Option Plan had a lower support rate of 65.22%, suggesting some shareholder concerns.