Chesswood Group Limited
TSX : CHW

Chesswood Group Limited

May 16, 2016 16:30 ET

Chesswood Group Limited Announces Voting Results from Annual Shareholders Meeting

TORONTO, ONTARIO--(Marketwired - May 16, 2016) - Chesswood Group Limited ("Chesswood" or the "Company") (TSX:CHW) announced today the voting results for the election of its Board of Directors, which took place at the Company's Annual and Special Meeting held on May 16, 2016. Issuers listed on the Toronto Stock Exchange are required to issue a news release providing this information. A total of approximately 10,718,547 shares (approximately 60.39% of 17,749,248 outstanding voting shares) were represented in person or by proxy.

The nominees listed in the management proxy circular dated March 28, 2016 were elected as directors of Chesswood at the meeting. Detailed results of the votes are set out below:

Votes For % For Votes Withheld % Withheld
Clare R. Copeland 9,929,732 94.93 530,346 5.07
Robert J. Day 10,453,878 99.94 6,200 0.06
Samuel L. Leeper 10,435,920 99.77 24,158 0.23
David Obront 9,931,632 94.95 528,446 5.05
Barry Shafran 10,255,009 98.04 205,069 1.96
Frederick Steiner 9,929,632 94.93 530,446 5.07
Daniel Wittlin 10,243,285 97.93 216,793 2.07

At the Annual and Special Meeting, the shareholders of the Company also approved (i) the appointment of the auditors and authorized the directors to fix their remuneration and (ii) ratification of the equity incentive plan. The voting results on each resolution are set out below:

Appointment of Auditor
Outcome of the Vote Votes by Ballot
Votes For % For Votes Withheld % Withheld
Carried 10,693,054 99.81 20,678 0.19
Ratification of Equity Incentive Plan
Outcome of the Vote Votes by Ballot
Votes For % For Votes Against % Against
Carried 8,519,800 81.45 1,940,278 18.55

Chesswood also announced that in connection with the election of directors at the Annual and Special Meeting the number of directors decreased from 8 to 7.

About Chesswood Group Limited

Chesswood Group Limited is a financial services company with operating businesses in both Canada and the U.S.

To learn more about Chesswood Group Limited, visit www.ChesswoodGroup.com.

The separate websites of Chesswood Group Limited's operating businesses are at www.PawneeLeasing.com, www.BlueChipLeasing.com and www.WindsetCapital.com

This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

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