CARIBBEAN UTILITIES COMPANY,
LTD. CLASS A ORDINARY SHARES ARE LISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK
EXCHANGE.
GRAND
CAYMAN, Cayman
Islands, May 9, 2024 /CNW/ - Caribbean
Utilities Company, Ltd. (TSX: CUP.U) ("CUC" or "the Company")
announced that the nominees listed in the Company's Notice to
Shareholders and Management Information Circular dated March 22, 2024 were elected as Directors of
Caribbean Utilities Company, Ltd at the Company's Annual General
and Special Meeting of Shareholders ("the AGSM"), held on
May 7, 2024 in Grand Cayman, Cayman
Islands.
Election of Directors
The following nominees were elected to serve as directors of CUC
until the next annual meeting of the Company or until their
successors are elected or appointed. Notwithstanding that the
motions were passed by a show of hands vote at the meeting, the
votes recorded by proxy in advance of the meeting were as
follows:
|
Nominees
|
Votes
For
|
Votes
Withheld
|
|
Mrs. Jennifer P.
Dilbert
|
22,609,489
|
99.82 %
|
39,914
|
0.18 %
|
|
Mrs. Sheree L.
Ebanks
|
22,609,889
|
99.83 %
|
39,514
|
0.17 %
|
|
Mr. Woodrow S.
Foster
|
22,606,953
|
99.81 %
|
42,450
|
0.19 %
|
|
Ms. Jennifer
Frizzelle
|
22,602,321
|
99.79 %
|
47,082
|
0.21 %
|
|
Ms. Karen
Gosse
|
22,599,380
|
99.78 %
|
50,023
|
0.22 %
|
|
Mrs. Sophia A.
Harris
|
22,610,349
|
99.83 %
|
39,054
|
0.17 %
|
|
Mr. J.F. Richard
Hew
|
22,608,979
|
99.82 %
|
40,424
|
0.18 %
|
|
Mr. Stuart
Lochray
|
22,607,392
|
99.81 %
|
42,011
|
0.19 %
|
|
Mr. Mark R.
Macfee
|
22,602,277
|
99.79 %
|
47,126
|
0.21 %
|
|
Ms. Kay
Menzies
|
22,601,800
|
99.79 %
|
47,603
|
0.21 %
|
|
Mr. David
Smailes
|
22,607,311
|
99.81 %
|
42,092
|
0.19 %
|
|
Mr. Gary J.
Smith
|
22,605,632
|
99.81 %
|
43,771
|
0.19 %
|
Appointment of Auditors
Shareholders of the Company
approved the appointment of Deloitte LLP. as auditors of CUC until
the next annual meeting of the Company, and the Board of Directors
was authorized to fix the auditors' remuneration.
|
Votes
For
|
Votes
Withheld
|
|
25,471,254
|
99.86 %
|
36,252
|
0.14 %
|
Compensation for Directors
By resolution, set out in
the Management Information Circular for the AGM dated March 22, 2024, Shareholders of the Company
approved the revised Board of Directors and Committee
Compensation.
|
Votes
For
|
Votes
Against
|
|
22,515,894
|
99.66 %
|
76,554
|
0.34 %
|
Amendment and restatement of the Articles of
Association
By special resolution, set out in the Management
Information Circular for the AGSM dated March 22, 2024, Shareholders of the Company
approved the amendment and restatement of the Articles of
Association of the Company.
|
Votes
For
|
Votes
Against
|
|
22,543,636
|
99.53 %
|
105,767
|
0.47 %
|
The principal activity of the Company is to generate, transmit
and distribute electricity in its licence area of Grand Cayman, Cayman
Islands pursuant to a 20-year Transmission &
Distribution ("T&D") Licence and a 25-year non-exclusive
Generation Licence (the "Generation Licence" and together with the
T&D licence, the "Licences") granted by the Cayman Islands
Government (the "Government", "CIG"). The T&D Licence, which
expires in April 2028, contains
provisions for an automatic 20-year renewal and the Company has
reasonable expectation of renewal until April 2048. The Generation Licence expires in
November 2039. Further information is
available at www.cuc-cayman.com.
Caribbean Utilities Company, Ltd. ("CUC" or "the Company"),
on occasion, includes forward-looking statements in its media
releases, Canadian securities regulatory authorities filings,
shareholder reports and other communications. Forward-looking
statements include statements that are predictive in nature, depend
upon future events or conditions, or include words such as
"expects", "anticipates", "plan", "believes", "estimates",
"intends", "targets", "projects", "forecasts", "schedule", or
negative versions thereof and other similar expressions, or future
or conditional verbs such as "may", "will", "should", "would" and
"could". Forward-looking statements are based on underlying
assumptions and management's beliefs, estimates and opinions, and
are subject to certain risks and uncertainties surrounding future
expectations generally that may cause actual results to vary from
plans, targets and estimates. Such risks and uncertainties include
but are not limited to operational, general economic, market and
business conditions, regulatory developments and weather
conditions. CUC cautions readers that actual results may vary
significantly from those expected should certain risks or
uncertainties materialize or should underlying assumptions prove
incorrect. Forward-looking statements are provided for the purpose
of providing information about management's current expectations
and plans relating to the future. Readers are cautioned that such
information may not be appropriate for other purposes. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise except as required by law.
SOURCE Caribbean Utilities Company, Ltd.