Results from Precision Drilling's Recent Shareholder Gathering
CALGARY, Alberta -- Precision Drilling Corporation (Precision or the Company) proudly shares the significant outcomes from the latest Annual and Special Meeting of Shareholders. This meeting showcased the active participation of our shareholders in shaping the governance of our company.
Election of Board Members
During the Annual Meeting, shareholders had the vital task of voting on the proposed directors nominated to lead our organization. The outcome was overwhelmingly positive, highlighting the confidence shareholders have in the board. Shareholders voted in favor of all eight nominees, with seven of them being independent directors, reflecting a strong commitment to good corporate governance.
Voting Results Breakdown
Let’s delve into the specifics. Here’s a detailed look at the number of votes and percentages each nominee received:
1. William T. Donovan: 6,024,596 votes (97.27% in favor) with 169,249 votes withheld (2.73%).
2. Steven W. Krablin: 5,860,994 votes (94.63% in favor) with 332,851 votes withheld (5.37%).
3. Lori A. Lancaster: 6,108,219 votes (98.62% in favor) with 85,626 votes withheld (1.38%).
4. Susan M. MacKenzie: 6,079,078 votes (98.15% in favor) with 114,767 votes withheld (1.85%).
5. Kevin O. Meyers: 6,022,290 votes (97.23% in favor) with 171,555 votes withheld (2.77%).
6. David W. Williams: 6,109,239 votes (98.63% in favor) with 84,606 votes withheld (1.37%).
7. Alice L. Wong: 6,088,633 votes (98.30% in favor) with 105,212 votes withheld (1.70%).
8. Kevin A. Neveu: 6,082,655 votes (98.20% in favor) with 111,190 votes withheld (1.80%).
Additional Business Approved
Beyond the election of the board members, the shareholders also endorsed the advisory vote concerning the Company’s executive compensation strategy. This non-binding advisory vote is crucial in establishing an open dialogue between the shareholders and the management regarding compensation practices.
Commitment to Transparency
Precision values transparency and a culture of proactive communication. The detailed results on all matters voted upon at the meeting are slated for filing on SEDAR and EDGAR, ensuring that stakeholders have access to all relevant information.
Precision Drilling: A Leader in High-Performance Services
As a premier provider in the energy sector, Precision Drilling is dedicated to delivering safe and environmentally responsible services. The Company prides itself on its advanced technological offerings, such as the Alpha™ technology portfolio, designed to enhance drilling efficiency and reliability.
Innovations and Environmental Commitment
Additionally, our EverGreen™ suite highlights our commitment to minimizing environmental impacts associated with our operations while maintaining operational excellence. Through a combination of skilled personnel, innovative solutions, and a dedicated approach to customer service, Precision ensures that our clients receive high-value and high-performance drilling services.
About Precision Drilling
Based in Calgary, Alberta, Precision Drilling boasts a substantial fleet of Super Series drilling rigs, which play an essential role in servicing the needs of the energy industry. The Company is listed on the Toronto Stock Exchange under the symbol PD and on the New York Stock Exchange under PDS. This dual listing underscores our commitment to maintaining a robust presence in the global market.
Contact Information
For further inquiries or additional details about our services, reach out to:
Lavonne Zdunich, CPA, CA
Vice President, Investor Relations
403.716.4500
800, 525 - 8th Avenue S.W.
Calgary, Alberta, Canada T2P 1G1
Frequently Asked Questions
What is the recent board meeting about Precision Drilling?
The recent meeting centered on the election of board members and approvals regarding executive compensation.
How many directors were elected?
All eight nominated directors were successfully elected during the Annual Meeting.
What percentage of votes were in favor of the nominees?
The votes in favor of nominees ranged from 94.63% to 98.63%, indicating strong shareholder support.
What is the company's approach to environmental responsibility?
Precision Drilling emphasizes its commitment to environmental responsibility through initiatives like the EverGreen™ suite of solutions.
How can one get more information about the company?
For more information, interested individuals can visit Precision's official website or contact the investor relations department.
