Teck Reports Voting Results from Annual General Meeting
April 22 2020 - 12:50PM
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK)
(“Teck”) announced today, in accordance with Toronto Stock Exchange
requirements, the voting results from its Annual and Special
Meeting of Shareholders held Tuesday, April 21, 2020 in Vancouver,
British Columbia. A total of 6,006,592 Class A common shares and
383,118,022 Class B subordinate voting shares were voted at the
meeting, representing 76.14% of the votes attached to all
outstanding shares.
Shareholders voted in favour of all items of business before the
meeting, as follows:
1. Shareholders
elected 12 directors, as follows:
|
|
Votes in Favour |
Votes Withheld |
% of Votes in Favour |
|
|
M.M. Ashar |
961,683,626 |
22,860,158 |
97.68 |
|
|
Q. Chong |
743,402,266 |
241,141,518 |
75.51 |
|
|
E.C. Dowling |
957,024,329 |
27,519,455 |
97.20 |
|
|
E. Fukuda |
960,097,665 |
24,446,119 |
97.52 |
|
|
T. Higo |
959,952,267 |
24,591,517 |
97.50 |
|
|
N.B. Keevil III |
964,714,856 |
19,828,928 |
97.99 |
|
|
D.R. Lindsay |
964,586,912 |
19,956,872 |
97.97 |
|
|
S.A. Murray |
961,540,217 |
23,003,567 |
97.66 |
|
|
T.L. McVicar |
962,605,698 |
21,938,086 |
97.77 |
|
|
K.W. Pickering |
963,862,380 |
20,681,404 |
97.90 |
|
|
U.M. Power |
964,836,512 |
19,707,272 |
98.00 |
|
|
T.R. Snider |
964,751,127 |
19,792,657 |
97.99 |
|
2. Shareholders
appointed PricewaterhouseCoopers LLP as auditor of the
Corporation.
3. The resolution on
Teck’s approach to executive compensation (“say on pay”) as
described in Teck’s management proxy circular dated February 28,
2020 (the “Circular”) was approved, with 95.30% of votes cast in
favour.
4. The
resolution to amend Teck’s stock option plan and to ratify the
grant of certain stock options granted thereunder as set out in the
Circular was approved, with 87.97% of votes cast in
favour.
Although all of the nominated directors received the support of
more than 50% of votes cast at the meeting,
the Teck Board has taken note of the significant number
of votes cast by holders of Class B Subordinate Voting Shares that
were withheld in connection with the election of Mr.
Quan Chong. The Board understands that major proxy
advisory services recommended that votes be withheld in respect of
Mr. Chong’s election to the Board on the grounds of his attendance
at Board and Committee meetings in 2019. Although not required
to do so under Teck’s Majority Voting Policy, Mr. Chong
has tendered his resignation, in light of the voting
results of the meeting. The Board has considered the matter
and has determined not to accept Mr. Chong’s resignation. The
Board has considered, among other things, the fact that Mr. Chong’s
2019 attendance was adversely affected for medical
reasons. The Board also considers Mr. Chong’s specific
skills, including his insight into China’s economy and
political landscape unique among members of the Board and,
therefore, of significant benefit.
Detailed voting results for the meeting are available on SEDAR
at www.sedar.com.
About Teck Teck is a diversified resource
company committed to responsible mining and mineral development
with major business units focused on copper, steelmaking coal, zinc
and energy. Headquartered in Vancouver, Canada, its shares are
listed on the Toronto Stock Exchange under the symbols TECK.A and
TECK.B and the New York Stock Exchange under the symbol TECK. Learn
more about Teck at www.teck.com or follow @TeckResources.
Investor Contact:Fraser PhillipsSenior Vice
President, Investor Relations and Strategic
Analysis604.699.4621fraser.phillips@teck.com
Media Contact:Chris Stannell Public Relations
Manager604.699.4368chris.stannell@teck.com
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