Obsidian Energy Announces Voting Results from the 2023 Annual and Special Meeting of Shareholders
- Obsidian Energy shareholders approve all resolutions outlined in the Notice of 2023 Annual and Special Meeting and Management Proxy Circular.
- KPMG LLP appointed as auditor.
- Seven nominees elected as directors.
- Advisory resolution on executive compensation approved.
- Unallocated options and units plans also approved.
- None.
Corporate presentation and management webcast available for replay on website
Calgary, Alberta--(Newsfile Corp. - June 12, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce that at our annual and special meeting of shareholders held on June 12, 2023, Obsidian Energy's shareholders approved all resolutions outlined in the Notice of 2023 Annual and Special Meeting and Management Proxy Circular dated May 1, 2023 (the "Information Circular"), which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov, and on Obsidian Energy's website at www.obsidianenergy.com.
- Appointment of Auditor
By resolution passed by show of hands, KPMG LLP, Chartered Accountants, was appointed as auditor of the Issuer for the ensuing year.
- Election of Directors
By resolutions passed by ballot vote, the following seven nominees proposed by management were elected as directors of the Company to hold office until the next annual meeting of Shareholders or until their successors are elected or appointed:
| Votes For | Percent | Votes Withheld | Percent | ||
| Shani Bosman | 25,818,199 | 5,576,628 | |||
| John Brydson | 24,111,821 | 7,283,006 | |||
| Raymond D. Crossley | 23,547,340 | 7,847,487 | |||
| Michael J. Faust | 25,830,772 | 5,564,055 | |||
| Edward H. Kernaghan | 25,634,192 | 5,760,635 | |||
| Stephen Loukas | 25,419,608 | 5,975,219 | |||
| Gordon Ritchie | 26,326,905 | 5,067,922 | |||
- Non-Binding Advisory Vote on the Corporation's Approach to Executive Compensation
By resolution passed by ballot vote, an advisory resolution was passed to approve the Company's approach to executive compensation as outlined in the Information Circular. The results of the ballot were as follows:
| Votes For | Percent | Votes Against | Percent |
| 20,852,095 | 10,542,733 |
- Approval of Unallocated Options Pursuant to the Stock Option Plan
By resolution passed by ballot vote, all unallocated options to acquire common shares under the stock option plan until July 12, 2026, was approved. The results of the ballot were as follows:
| Votes For | Percent | Votes Against | Percent |
| 17,387,941 | 14,006,885 |
- Approval of Unallocated Units Pursuant to the Restricted and Performance Share Unit Plan
By resolution passed by ballot vote, all unallocated options to acquire common shares under the restricted and performance share unit plan, until July 12, 2026 was approved. The results of the ballot were as follows:
| Votes For | Percent | Votes Against | Percent |
| 21,972,915 | 9,422,001 |
CORPORATE PRESENTATION AND WEBCAST
Today, Obsidian Energy's management team held a webcast presentation live on the Internet (the "Presentation") for investors, shareholders and stakeholders to discuss the Company's strategy, assets, value and plans for the future. The corporate presentation has been posted to our website, and the full webcast Presentation is available for replay either through our website or directly at the webcast portal.
CONTACT
OBSIDIAN ENERGY
Suite 200, 207 - 9th Avenue SW, Calgary, Alberta T2P 1K3
Phone: 403-777-2500
Toll Free: 1-866-693-2707
Website: www.obsidianenergy.com;
Investor Relations:
Toll Free: 1-888-770-2633
E-mail: investor.relations@obsidianenergy.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169634
FAQ
What resolutions were approved by Obsidian Energy shareholders?
Who was appointed as auditor?
Who were elected as directors?
Was the advisory resolution on executive compensation approved?
Were the unallocated options and units plans approved?
