OpenText Announces Voting Results for Election of Directors

Rhea-AI Summary

On September 14, 2020, Open Text Corporation (NASDAQ: OTEX) announced that all proposals presented at its virtual Annual General and Special Meeting of Shareholders were approved. Notable outcomes include the election of eleven nominee directors, with a total of 219,625,895 common shares representing 80.78% of outstanding shares present or represented by proxy. Specific voting results showed high percentages of support for individual nominees, with David Fraser receiving 99.06% of votes in favor. Detailed results are available in the Report of Voting Results filed on SEDAR and EDGAR.

Positive

• All proposals submitted at the Annual General and Special Meeting were approved.
• A substantial turnout with 80.78% of outstanding shares represented.
• High support for nominee directors, indicating shareholder confidence.

Negative

• Michael Slaunwhite received the lowest approval at 92.66%, which may indicate some shareholder discontent.

WATERLOO, ON, Sept. 14, 2020 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX, TSX: OTEX) confirmed today that each of the proposals submitted to a vote by shareholders at its Annual General and Special Meeting of Shareholders (the "Meeting") held virtually today was approved, including the election of the eleven nominee directors listed in its management proxy circular dated August 5, 2020. The detailed results of the vote for the election of directors at the Meeting are set out below. Shareholders holding 219,625,895 common shares representing 80.78% of the outstanding common shares were present or represented by proxy at the Meeting.

On a vote by ballot, each of the following nominees proposed by management was elected as a director of OpenText to serve until the next annual meeting of shareholders of OpenText or until their successors are duly elected or appointed:

	Votes For				Votes Withheld
P. Thomas Jenkins	205,692,087		95.04	%	10,726,091		4.96	%
Mark J. Barrenechea	209,255,032		96.69	%	7,163,146		3.31	%
Randy Fowlie	205,554,375		94.98	%	10,863,803		5.02	%
David Fraser	214,393,690		99.06	%	2,024,488		0.94	%
Gail E. Hamilton	204,947,622		94.70	%	11,470,556		5.30	%
Robert Hau	215,714,931		99.68	%	703,247		0.32	%
Stephen J. Sadler	208,385,923		96.29	%	8,032,255		3.71	%
Harmit Singh	215,707,800		99.67	%	710,378		0.33	%
Michael Slaunwhite	200,537,240		92.66	%	15,880,938		7.34	%
Katharine B. Stevenson	214,712,848		99.21	%	1,705,330		0.79	%
Deborah Weinstein	208,328,017		96.26	%	8,090,161		3.74	%

The results of other matters considered at the Meeting are reported in the Report of Voting Results as filed on SEDAR (https://www.sedar.com) and Open Text's Form 8-K filed on EDGAR (https://www.sec.gov/edgar.shtml), each of which filed on September 14, 2020.

About OpenText

OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, on-premises or in the cloud. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.

Copyright ©2020 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text. All rights reserved.

OTEX-F

For more information, please contact

Harry E. Blount
Senior Vice President, Global Head of Investor Relations
Open Text Corporation
415-963-0825
investors@opentext.com

 

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SOURCE Open Text Corporation

FAQ

What was the outcome of Open Text's September 2020 shareholder meeting?

All proposals presented at Open Text's Annual General and Special Meeting on September 14, 2020, were approved.

Who were elected as directors at Open Text's September 2020 meeting?

Eleven nominee directors were elected, including Mark J. Barrenechea and David Fraser.

What was the voter turnout at Open Text's September 2020 shareholder meeting?

Shareholders holding 219,625,895 common shares, representing 80.78% of the outstanding shares, participated in the meeting.

What percentage of votes did David Fraser receive at the Open Text meeting?

David Fraser received 99.06% of votes in favor during the election.

How did Michael Slaunwhite perform in the director election at Open Text's meeting?

Michael Slaunwhite received 92.66% of votes in favor, the lowest among the nominees.