DAVIDsTEA Reports Strong Results from Annual Shareholders' Meeting
DAVIDsTEA Announces Results from Annual Shareholders' Meeting
MONTREAL — DAVIDsTEA Inc. (TSX-V: DTEA) is excited to present the results from its recent annual meeting of shareholders. The meeting showcased a strong commitment from the shareholders, who confirmed the election of five nominated directors as presented in the management information circular.
Election of Directors
The five nominees successfully garnered significant support during the vote. For instance:
Highly Supported Nominees
Jane Silverstone Segal received an impressive 99.08% approval with 13,730,858 votes for her candidacy. Following closely, Sarah Segal achieved a remarkable 99.09% with her 13,733,155 votes in favor.
Other nominees such as Susan L. Burkman and Pat De Marco also saw strong backing, receiving nearly identical approval ratings of 99.09% and 99.10% respectively. Notably, Peter Robinson achieved a supportive 99.10%, reflecting the confidence shareholders have in the leadership team.
Shareholder Engagement and Decisions
During the meeting, the shareholders also took the opportunity to re-appoint Ernst & Young LLP as the company’s auditor. This decision underscores a trust in their auditing capabilities, ensuring transparency and accountability.
Amendments to Incentive Plans
Moreover, the meeting included a critical resolution to amend the 2015 Omnibus Equity Incentive Plan. This amendment aims to enhance the number of common shares available for issuance, enabling more flexibility in engaging shareholders and motivating the team.
About DAVIDsTEA
DAVIDsTEA is known for its diverse range of unique, proprietary loose-leaf teas and related products available through both its e-commerce platform and various retail channels. Its commitment to quality is reflected in their offerings, which include pre-packaged teas, tea sachets, accessories, and an array of gifts.
The company serves a broad customer base, distributing through more than 4,000 grocery stores and pharmacies, over 1,500 convenience stores in Canada, and additional grocery markets in the United States. Their innovative approach to tea encompasses wellness-driven ingredients and a focus on making tea enjoyable for everyone.
Contact Information for Investors
DAVIDsTEA encourages any interested investors to reach out for more information regarding their operations and future aspirations. The contact information is as follows:
Investor Relations Contact
MBC Capital Markets Advisors
Pierre Boucher
Telephone: 514-731-0000
Frequently Asked Questions
What was the outcome of the recent annual meeting?
The meeting resulted in the successful election of five nominees to the Board of Directors, confirming strong shareholder support.
Who are the elected directors?
The directors elected include Jane Silverstone Segal, Sarah Segal, Susan L. Burkman, Pat De Marco, and Peter Robinson.
What changes were made to the incentive plan?
The 2015 Omnibus Equity Incentive Plan was amended to increase the number of common shares available for issuance, enhancing flexibility for future corporate initiatives.
Who is the auditor for DAVIDsTEA?
Ernst & Young LLP was re-appointed as DAVIDsTEA’s auditor during the annual meeting.
How can investors contact DAVIDsTEA?
Investors can reach out through the investor relations contact Pierre Boucher at MBC Capital Markets Advisors or via email at investors@davidstea.com.
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