Maxim Power Corp.
TSX : MXG

Maxim Power Corp.

June 02, 2016 18:12 ET

Maxim Power Corp.: Board of Director Election Results

CALGARY, ALBERTA--(Marketwired - June 2, 2016) - Maxim Power Corp. ("MAXIM" or the "Company") (TSX:MXG) today announced the final director election results from its 2016 annual and special meeting of shareholders held on June 2, 2016 (the "Meeting"). A ballot was conducted with respect to the election of the directors to hold office until the next annual meeting of shareholders. According to the proxies received and ballots cast, the following directors were elected to hold office until the next annual meeting of shareholders or until their successors are elected or appointed, unless such office is earlier vacated in accordance with the by-laws of the Company:

Nominee # Votes For % Votes For # Votes Withheld % Votes Withheld
Wiley D. Auch 38,098,451 96.28 1,470,501 3.72
John R. Bobenic 14,764,133 37.31 24,804,819 62.69
M. Bruce Chernoff 37,883,851 95.74 1,685,101 4.26
Johann Polz 38,083,601 96.25 1,485,351 3.75
W. Brett Wilson 37,886,051 95.75 1,682,901 4.25

As Mr. John R. Bobenic did not receive the requisite majority of votes "FOR" his election as a director at the Meeting, per the Company's Majority Voting Policy, Mr. Bobenic is required to tender his resignation as a director of the Company. Upon receipt of such resignation, the board of directors of the Company will consider all relevant factors in whether the board should accept such resignation and shall make such determination as soon as practicable.

About MAXIM

Based in Calgary, Alberta, MAXIM is an independent power producer, which acquires or develops, owns and operates innovative and environmentally responsible power and power related projects. MAXIM currently owns and operates 39 power plants in Alberta, the United States and France, having 778 MW of electric generating capacity. MAXIM trades on the TSX under the symbol "MXG". For more information about MAXIM, visit our website at www.maximpowercorp.com.

Contact Information

  • Maxim Power Corp.
    Michael R. Mayder
    Senior Vice President, Finance and CFO
    (403) 750-9311
    www.maximpowercorp.com