Park Lawn Corporation Announces Results of 2022 Annual and Special Meeting of Shareholders

Rhea-AI Summary

Park Lawn Corporation held its Annual and Special Meeting of Shareholders on June 1, 2022, with 22,773,765 shares represented, accounting for approximately 66.97% of the total. All eight directors were re-elected, receiving over 88% of votes in favor. Additionally, shareholders supported the reappointment of KPMG LLP as auditors and approved an increase in shares for the Second Amended Equity Incentive Plan by 700,000 shares. CEO Brad Green expressed gratitude for shareholder support and reaffirmed commitment to achieving growth targets by 2026.

Positive

• 66.97% of total shares represented at the meeting.
• All eight directors re-elected with over 88% votes in favor.
• KPMG LLP confirmed as auditors with 99.536% approval.
• Increase in shares for equity incentive plan approved by 91.386%.

Negative

• Steven Scott received only 77.728% approval, indicating some shareholder discontent.

TORONTO, ON / ACCESSWIRE / June 1, 2022 / Park Lawn Corporation (TSX: PLC, PLC.U) ("Park Lawn" or the "Company") announced the results from its Annual and Special Meeting of Shareholders (the "Meeting") held earlier today.

A total of 22,773,765 of Park Lawn's common shares ("Shares") (representing approximately 66.97% of the issued and outstanding Shares as of the record date for the meeting) were represented at the Meeting. The vote was conducted by online ballot.

Each of Park Lawn's eight directors were elected at the Meeting by a resolution passed by the shareholders present or represented by proxy at the Meeting, to hold office until the close of the next annual meeting of shareholders. The results of the vote are detailed below:

Nominee	Votes For	% of Votes For	Votes Withheld	% of Votes Withheld
Marilyn Brophy	22,029,724	97.483%	568,743	2.517%
Jay D. Dodds	21,558,497	95.398%	1,039,970	4.602%
Amy Freedman	20,090,056	88.900%	2,508,411	11.100%
J. Bradley Green	22,570,531	99.876%	27,936	0.124%
Deborah Robinson	21,630,218	95.715%	968,249	4.285%
Steven Scott	17,565,387	77.728%	5,033,080	22.272%
Paul G. Smith	22,399,432	99.119%	199,035	0.881%
John Ward	22,483,431	99.491%	115,036	0.509%

The results of the vote to appoint KPMG LLP and authorize the directors to fix their remuneration are as follows:

Votes For	% of Votes For	Votes Withheld	% of Votes Withheld
22,662,951	99.536%	105,639	0.464%

The results of the vote to increase the number of Shares reserved for issuance under Park Lawn's Second Amended and Restated Equity Incentive Plan by 700,000 Shares from 2,400,000 to 3,100,000 Shares are as follows:

Votes For	% of Votes For	Votes Against	% of Votes Against
20,651,853	91.386%	1,946,614	8.614%

Park Lawn's Chief Executive Officer, Brad Green, stated, "Park Lawn is pleased to have received the majority support of its shareholders for each of management's proposals at this year's Annual and Special Meeting. We look forward to continuing to work towards our 2026 aspirational targets through operational high performance and execution of our growth strategy to provide maximum shareholder value."

About Park Lawn Corporation

Park Lawn provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). Park Lawn and its subsidiaries own and operate businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. Park Lawn operates in three Canadian provinces and sixteen U.S. states.

Cautionary Statement Regarding Forward‐Looking Information

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of Park Lawn and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate", "pro-forma" and other similar expressions. These statements are based on Park Lawn's expectations, estimates, forecasts and projections and include, without limitation, Park Lawn's growth strategy and meeting expectations of shareholders. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, risks associated with the current COVID-19 pandemic and the other factors discussed under the heading "Risk Factors" in Park Lawn's most recent Annual Information Form available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Park Lawn assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact Information

Daniel Millett
Chief Financial Officer
(416) 231-1462, ext. 221

SOURCE: Park Lawn Corporation

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FAQ

What were the results of Park Lawn Corporation's Annual Meeting on June 1, 2022?

During the meeting, all eight directors were re-elected, with 66.97% of shares represented and significant shareholder support for management proposals.

How many shares were represented at Park Lawn's 2022 Annual Meeting?

A total of 22,773,765 shares were represented, accounting for approximately 66.97% of the issued shares.

Who was re-elected during Park Lawn's Annual Meeting?

Eight directors were re-elected during the meeting, with each receiving over 88% of the votes in favor.

Which firm was appointed as the auditor for Park Lawn Corporation?

KPMG LLP was reappointed as the auditors, receiving 99.536% of the votes in favor.

What approval did Park Lawn receive regarding its Equity Incentive Plan?

The shareholders approved an increase of 700,000 shares for the Equity Incentive Plan with 91.386% voting in favor.