Precision Drilling Corporation Announces Voting Results from the 2022 Annual and Special Meeting of Shareholders

Rhea-AI Summary

On May 12, 2022, Precision Drilling Corporation announced the election results of its board members during the 2022 Annual and Special Meeting of Shareholders. All 8 nominated directors were approved, with 7 being independent. Key voting figures revealed that Michael R. Culbert received 99.58% approval, while Susan M. MacKenzie had the least support at 81.56%. Additionally, shareholders passed all other business items, including a non-binding advisory vote on executive compensation. Detailed results will be filed on SEDAR and EDGAR.

Positive

• All 8 nominee directors were elected successfully, enhancing board stability.
• 7 out of 8 directors are independent, promoting good governance.

Negative

• Susan M. MacKenzie received the lowest approval rate at 81.56%, indicating potential shareholder concerns.

CALGARY, Alberta, May 12, 2022 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision” or the “Company”) is pleased to announce the results of the election of board members at its 2022 Annual and Special Meeting of Shareholders held on May 12, 2022 (the “Annual Meeting”). Shareholders approved the election of all 8 (7 of whom are independent) of the nominee directors presented in the Company’s Management Information Circular (the “Circular”), dated March 30, 2022.

The shares represented at the Annual Meeting voting in favour of individual nominee directors are as follows:

Nominee	# Votes For	% Votes For	# Votes Withheld	% Votes Withheld
Michael R. Culbert	8,257,758	99.58	34,513	0.42
William T. Donovan	8,071,216	97.33	221,055	2.67
Brian J. Gibson	8,077,224	97.41	215,047	2.59
Steven W. Krablin	7,765,114	93.64	527,157	6.36
Susan M. MacKenzie	6,763,226	81.56	1,529,045	18.44
Kevin O. Meyers	8,071,468	97.34	220,803	2.66
David W. Williams	8,257,389	99.58	34,882	0.42
Kevin A. Neveu	8,032,963	96.87	259,308	3.13

All other items of business set forth in the Circular and considered at the Annual Meeting passed, including the non-binding advisory vote on the Corporation’s approach to executive compensation.

The full results on all matters voted upon at the meeting will be filed on SEDAR (www.sedar.com) and EDGAR (www.sec.gov).

About Precision
Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as “Alpha™” that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Additionally, Precision offers well service rigs, camps and rental equipment all backed by a comprehensive mix of technical support services and skilled, experienced personnel.

Precision is headquartered in Calgary, Alberta, Canada and is listed on the Toronto Stock Exchange under the trading symbol “PD” and on the New York Stock Exchange under the trading symbol “PDS.”

For further information, please contact:

Carey Ford, Senior Vice President & Chief Financial Officer
713.435.6100

800, 525 - 8th Avenue S.W.
Calgary, Alberta, Canada T2P 1G1
Website: www.precisiondrilling.com

 

FAQ

What were the results of Precision Drilling Corporation's 2022 Annual Meeting of Shareholders?

Precision Drilling Corporation reported that all 8 nominated directors were elected during the 2022 Annual Meeting, with 7 being independent.

When was the Annual Meeting held for Precision Drilling Corporation?

The Annual Meeting of Precision Drilling Corporation was held on May 12, 2022.

What percentage of votes did Michael R. Culbert receive at the meeting?

Michael R. Culbert received 99.58% of the votes in favor during the election.

What is the symbol for Precision Drilling Corporation on the stock exchanges?

Precision Drilling Corporation trades under the symbol 'PDS' on the New York Stock Exchange.

What other business items were approved during the meeting?

All other items of business, including a non-binding advisory vote on executive compensation, were also passed at the meeting.