South Bow Corp. Reports Positive Outcomes from Shareholder Meeting
Successful Resolutions at South Bow's Annual Meeting
CALGARY, Alberta — South Bow Corp. (TSX: SOBO, NYSE: SOBO) recently completed its Annual General Meeting, where significant resolutions received overwhelming support from shareholders. The approval of these resolutions demonstrates a strong alignment between the company’s leadership and its shareholders.
During the meeting, shareholders voted on key issues that will guide South Bow's strategic direction for the coming years.
Appointment of Board Members
The assembly resulted in the successful appointment of eleven board members, with an impressive range of voting outcomes reflecting strong backing from shareholders. Here are the voting results for the board members:
Directors and Voting Results:
- Hal Kvisle: 96.51% in favor
- Chansoo Joung: 99.76% in favor
- George Lewis: 99.83% in favor
- Leonard Mallett: 99.78% in favor
- Robert (Bob) G. Phillips: 99.78% in favor
- Sonya Reed: 99.74% in favor
- Shannon Ryhorchuk: 99.81% in favor
- Mary Pat Salomone: 98.69% in favor
- Frances M. Vallejo: 99.77% in favor
- Don Wishart: 99.78% in favor
- Bevin Wirzba: 99.82% in favor
Appointment of Auditors
Another critical resolution involved the appointment of KPMG LLP as the company's auditors, which also passed with favorable votes from 99.76% of shares. This decision is essential for ensuring robust financial oversight and transparency moving forward.
Executive Compensation Approval
Additionally, shareholders approved the company’s approach to executive compensation, reflecting adherence to industry standards and fairness in compensation practices. This resolution achieved a solid 95.95% favoring votes, reinforcing the company's commitment to equitable stakeholder treatment.
About South Bow Corp.
South Bow is known for its reliability and safety in transporting crude oil across a vast network of 4,900 kilometers (3,045 miles). The company efficiently connects Alberta's oil resources to major refining markets in Illinois, Oklahoma, and along the Gulf Coast, thus facilitating essential energy supply to North America. Since its separation from TC Energy, South Bow has charted an independent path, with its first day as a standalone entity being a significant milestone on October 1, 2024. The team's dedication ensures the highest standards of transport safety and service.
Contact Information
For inquiries, you can reach out to the following:
Investor Relations: Martha Wilmot
Email: investor.relations@southbow.com
Media Relations: Solomiya Lyaskovska
Email: communications@southbow.com
Frequently Asked Questions
What were the outcomes of the annual meeting?
All resolutions proposed were approved, including board appointments and auditor selection.
Who were the newly appointed board members?
Eleven directors were appointed with over 96% shareholder support.
What auditor was selected for South Bow Corp.?
KPMG LLP was approved as the company’s auditor, receiving strong shareholder backing.
How does South Bow ensure safe oil transportation?
South Bow operates a comprehensive pipeline network, ensuring reliable and safe transport of crude oil.
How has South Bow evolved since becoming a standalone company?
Since its independence from TC Energy, South Bow has focused on expanding its operational excellence and market connectivity.
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