Freehold Royalties Ltd.

Freehold Royalties Ltd.

May 11, 2016 19:53 ET

Freehold Royalties Ltd. Shareholders Approve Resolutions at Annual and Special Meeting

CALGARY, ALBERTA--(Marketwired - May 11, 2016) - Freehold Royalties Ltd. (TSX:FRU) (Freehold) announced today that all nominees listed in its notice of meeting and information circular dated March 30, 2016, were elected as directors of Freehold at its Annual and Special Meeting of Shareholders held today in Calgary.

The results of the votes are as follows:

Nominee Votes For Votes Withheld
Number % Number %
Gary R. Bugeaud 63,255,529 99.32 431,538 0.68
Peter T. Harrison 63,549,320 99.78 137,747 0.22
J. Douglas Kay 63,531,172 99.76 155,895 0.24
Arthur N. Korpach 63,133,276 99.13 553,791 0.87
Susan M. MacKenzie 63,205,919 99.24 481,148 0.76
Thomas J. Mullane 63,531,771 99.76 155,296 0.24
Marvin F. Romanow 63,497,466 99.70 189,601 0.30
Aidan M. Walsh 63,513,536 99.73 173,531 0.27

KPMG LLP was appointed as the auditors of Freehold with over 98% of the proxies received in favour of their appointment.

Shareholders approved the reservation and issuance of an additional 300,000 common shares of Freehold to be issued to non-management directors of Freehold pursuant to the Deferred Share Unit Plan of Freehold. The resolution was approved by ballot with 98.69% votes cast for the motion and 1.31% votes cast against the motion, after excluding the votes attached to common shares held by non-management directors.

Shareholders also approved the special resolution reducing the stated capital of the common shares of Freehold by $250,000,000, without any payment or distribution to the shareholders. The resolution passed with over 99% of the proxies received in favour of the resolution.

Freehold's primary focus is on acquiring and managing oil and gas royalties. The majority of production comes from royalty interests (mineral title and gross overriding royalties). Freehold's common shares trade on the Toronto Stock Exchange in Canada under the symbol FRU.

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