Obsidian Energy Announces Voting Results from the 2024 Annual and Special Meeting of Shareholders

Rhea-AI Summary

Obsidian Energy announced the voting results from the 2024 Annual and Special Meeting of Shareholders where all resolutions were approved. KPMG LLP was appointed as the auditor for the ensuing year, and seven nominees were elected as directors. An advisory resolution on executive compensation was also approved. The company held a webcast presentation for investors and stakeholders.

Positive

• All resolutions outlined in the Notice of 2024 Annual and Special Meeting were approved by Obsidian Energy's shareholders.

• KPMG LLP was appointed as the auditor for the company for the ensuing year, ensuring financial transparency and accountability.

• Seven nominees proposed by management were elected as directors of the Company, providing continuity in leadership and governance.

• An advisory resolution on executive compensation was passed, reflecting shareholder approval of the Company's approach to compensation.

• Obsidian Energy held a webcast presentation for investors and stakeholders to discuss the Company's strategy, assets, value, and future plans, enhancing transparency and communication.

Negative

• None.

Corporate presentation and management webcast available for replay on website

Calgary, Alberta--(Newsfile Corp. - May 2, 2024) - 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 May 2, 2024, Obsidian Energy's shareholders approved all resolutions outlined in the Notice of 2024 Annual and Special Meeting and Management Proxy Circular dated March 15, 2024 (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.

1. 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.

2. 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	26,232,519	85.09%		4,597,679	14.91%
John Brydson	25,208,890	81.77%		5,621,308	18.23%
Raymond D. Crossley	25,942,061	84.14%		4,888,137	15.86%
Michael J. Faust	25,974,751	84.25%		4,855,447	15.75%
Edward H. Kernaghan	25,839,866	83.81%		4,990,332	16.19%
Stephen Loukas	26,467,470	85.85%		4,362,728	14.15%
Gordon Ritchie	26,413,688	85.67%		4,416,510	14.33%

 

3. 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
22,285,445	72.28%	8,544,752	27.72%

 

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 future plans. 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/207801

FAQ

What were the voting results from Obsidian Energy's 2024 Annual and Special Meeting of Shareholders?

All resolutions outlined in the Notice of 2024 Annual and Special Meeting were approved by the shareholders.

Who was appointed as the auditor for Obsidian Energy for the ensuing year?

KPMG LLP, Chartered Accountants, was appointed as the auditor for the company.

How many nominees were elected as directors of Obsidian Energy?

Seven nominees proposed by management were elected as directors of the Company.

What was the outcome of the advisory resolution on executive compensation at Obsidian Energy?

The advisory resolution to approve the Company's approach to executive compensation was passed.

What event did Obsidian Energy hold for investors and stakeholders to discuss the Company's strategy?

Obsidian Energy held a webcast presentation live on the Internet for investors, shareholders, and stakeholders.