News Americas, CALGARY, Alberta, May 08, 2020: Parkland Fuel Corporation, (“Parkland”, “We”, the “Company”, or “Our”) (TSX:PKI) held its annual and special meeting of shareholders on May 7, 2020 (the “Meeting”).
The Company is pleased to announce that shareholders representing approximately 99.9% of votes cast approved a special resolution authorizing the Company to amend its articles to change its name to “Parkland Corporation” and the adoption of “Corporation Parkland” as its French name. The common shares of the Company will continue to trade on the Toronto Stock Exchange (TSX) under its existing trading symbol, PKI. The effective date of the name change will be May 15, 2020 and the Company’s common shares will commence trading on the TSX under the new name within 2-3 business days. Each existing share certificate reflecting the current name of the Company will continue to represent a valid certificate until such certificate is transferred, re-registered or otherwise exchanged.
Furthermore, all matters presented at the meeting were approved included the election of all nine of the nominees listed in its management information circular dated March 31, 2020 (the “Information Circular”). The complete results of voting for business considered at the Meeting are set out below:
Resolution 1
Election of directors of Parkland for the ensuing year.
| Nominee | Votes For | %For | Votes Withheld | %Withheld | ||
| John F. Bechtold | 96,389,584 | 92.85 | % | 7,420,425 | 7.15 | % |
| Lisa Colnett | 100,789,666 | 97.09 | % | 3,020,343 | 2.91 | % |
| Robert Espey | 102,351,997 | 98.60 | % | 1,458,012 | 1.40 | % |
| Timothy Hogarth | 98,907,395 | 95.28 | % | 4,902,614 | 4.72 | % |
| Jim Pantelidis | 96,481,478 | 92.94 | % | 7,328,531 | 7.06 | % |
| Domenic Pilla | 101,206,634 | 97.49 | % | 2,603,375 | 2.51 | % |
| Steven Richardson | 101,635,187 | 97.90 | % | 2,174,822 | 2.10 | % |
| David A. Spencer | 97,735,762 | 94.15 | % | 6,074,247 | 5.85 | % |
| Deborah Stein | 100,431,854 | 96.75 | % | 3,378,155 | 3.25 | % |
Resolution 2
The reappointment of PricewaterhouseCoopers LLP, Chartered Accountants, as auditor of Parkland for the fiscal year ending December 31, 2020.
| Votes For | 103,611,494 | 99.27 | % |
| Votes Withheld | 765,180 | 0.73 | % |
Resolution 3
The approval of Parkland’s restated shareholder rights plan, as set forth and described in the Information Circular.
| Votes For | 97,354,559 | 93.78 | % |
| Votes Against | 6,455,450 | 6.22 | % |
Resolution 4
The approval of unallocated options under Parkland’s stock option plan, as set forth and described in the Information Circular.
| Votes For | 97,171,975 | 93.61 | % |
| Votes Against | 6,638,034 | 6.39 | % |
Resolution 5
The approval of amendments to Parkland’s restricted share unit plan, as set forth and described in the Information Circular.
| Votes For | 100,203,588 | 96.53 | % |
| Votes Against | 3,606,421 | 3.47 | % |
Resolution 6
The approval of unallocated restricted share units under Parkland’s restricted share unit plan, as set forth and described in the Information Circular.
| Votes For | 100,442,293 | 96.76 | % |
| Votes Against | 3,367,716 | 3.24 | % |
Resolution 7
The approval of Parkland’s corporate name change from “Parkland Fuel Corporation” or “Corporation Pétroles Parkland” to “Parkland Corporation” or “Corporation Parkland”, respectively, as set forth and described in the Information Circular.
| Votes For | 104,272,205 | 99.90 | % |
| Votes Against | 104,469 | 0.10 | % |
Resolution 8
The approval, on a non-binding and advisory basis, of Parkland’s approach to executive compensation as more particularly set forth and described in the Information Circular.
| Votes For | 96,526,981 | 92.98 | % |
| Votes Against | 7,283,028 | 7.02 | % |
Voting results for all matters have been posted on SEDAR.
About Parkland Fuel Corporation
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.
Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.
