Russel Metals Announces 2022 Annual Meeting Voting Results

Rhea-AI Summary

Russel Metals Inc. (RUS - TSX) announced the results from its 2022 annual meeting held on May 4, 2022, where 33,323,116 common shares, or 52.80% of total shares, were represented. All director nominees were elected with significant support; Linh J. Austin received 98.97% votes in favor. The company's advisory 'say on pay' resolution was approved with 87.82% support, and Deloitte LLP was appointed as auditors. Russel Metals, a leading North American metals distribution company, operates in metals service centers, energy products, and steel distribution.

Positive

• Voting turnout of 52.80% indicates strong shareholder engagement.
• All director nominees elected with high support, particularly Linh J. Austin at 98.97%.
• Approval of the 'say on pay' resolution with 87.82% support shows strong backing of executive compensation.
• Deloitte LLP appointed as auditors, suggesting continued commitment to strong governance.

Negative

• None.

TORONTO, May 4, 2022 /PRNewswire/ - Russel Metals Inc. (RUS - TSX) announces voting results from its 2022 annual meeting of shareholders held on May 4, 2022.  A total of 33,323,116 common shares were represented at the meeting in person or by proxy, representing 52.80% of the 63,111,470 issued and outstanding common shares as of the record date on March 18, 2022.

Shareholders voted in favour of the election of each nominee director as follows:

Nominee	Votes For	Percentage For	Votes Withheld		Percentage Withheld
Linh J. Austin	32,675,253	98.97%	339,398		1.03%
John M. Clark	31,802,989	96.33%	1,211,662		3.67%
James F. Dinning	29,442,532	89.18%	3,572,119		10.82%
Brian R. Hedges	29,558,201	89.53%	3,456,450		10.47%
Cynthia Johnston	32,157,332	97.40%	857,319		2.60%
Alice D. Laberge	30,011,794	90.90%	3,002,857		9.10%
William M. O'Reilly	30,024,223	90.94%	2,990,428		9.06%
Roger D. Paiva	32,546,849	98.58%	467,802		1.42%
John G. Reid	31,991,348	96.90%	1,023,303		3.10%
Annie Thabet	32,743,802	99.18%	270,849		0.82%

The Company's advisory "say on pay" resolution was also approved with 87.82% of the votes cast in favour of the resolution.  In addition, the resolution appointing Deloitte LLP as auditors of the Company was approved.

About Russel Metals Inc.

Russel Metals is one of the largest metals distribution companies in North America, with a growing focus on value-added processing.  It carries on business in three segments: metals service centers, energy products and steel distributors.  Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.  Its energy products operations carry a specialized product line focused on the needs of energy industry customers.  Its steel distributors operations act as master distributors selling steel in large volumes to other steel service centers and large equipment manufacturers mainly on an "as is" basis.

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View original content:https://www.prnewswire.com/news-releases/russel-metals-announces-2022-annual-meeting-voting-results-301539953.html

SOURCE Russel Metals Inc.

FAQ

What were the voting results for Russel Metals Inc. on May 4, 2022?

During Russel Metals' 2022 annual meeting, 33,323,116 common shares, representing 52.80% of total shares, were voted.

Who was the most supported director elected at the 2022 annual meeting of Russel Metals?

Linh J. Austin received the highest support, with 98.97% of votes in favor.

What percentage of votes supported the 'say on pay' resolution at Russel Metals' 2022 meeting?

The 'say on pay' resolution was approved with 87.82% of votes cast in favor.

Which firm was appointed as auditors for Russel Metals Inc. in 2022?

Deloitte LLP was appointed as auditors during the 2022 annual meeting.