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 10, 2022 /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
11, 2022 were elected as Directors of Caribbean Utilities
Company, Ltd at the Company's Annual General & Special Meeting
of Shareholders ("the AGSM"), held on May 10, 2022 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
|
23,896,973
|
89.58%
|
6,708
|
0.025%
|
Mrs. Sheree L.
Ebanks
|
23,896,566
|
89.58%
|
7,115
|
0.027%
|
Ms. Jennifer
Frizzelle
|
23,894,906
|
89.58%
|
8,775
|
0.033%
|
Mr. Woodrow S.
Foster
|
23,894,846
|
89.58%
|
8,835
|
0.033%
|
Ms. Susan M.
Gray
|
23,894,746
|
89.57%
|
8,935
|
0.033%
|
Mrs. Sophia A.
Harris
|
23,896,466
|
89.58%
|
7,215
|
0.027%
|
Mr. R. Scott
Hawkes
|
23,898,143
|
89.59%
|
5,538
|
0.021%
|
Mr. J.F. Richard
Hew
|
23,897,743
|
89.59%
|
5,938
|
0.022%
|
Ms. Gretchen L.
Holloway
|
23,892,426
|
89.57%
|
11,255
|
0.042%
|
Mr. Mark R.
Macfee
|
23,896,466
|
89.58%
|
7,215
|
0.027%
|
Mr. Gary J.
Smith
|
23,892,326
|
89.57%
|
11,355
|
0.043%
|
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
|
26,666,41
|
99.97%
|
9,273
|
0.035%
|
Amendment of the Articles of Association
By special
resolution, set out in the Management Information Circular for the
AGSM dated March 11, 2022,
Shareholders of the Company approved the amendment of the Articles
of Association of the Company.
Votes
For
|
Votes
Against
|
23,777,737
|
89.14%
|
125,944
|
0.472%
|
Retirements from the Board of Directors
The Chairman of the
Board of Directors, Mr. David Ritch,
and long term director Mr. Peter
Thomson, retired from service as directors on the Board at
the AGSM. During his address to the Shareholders, President
& CEO Mr. J. F. Richard Hew
expressed the gratitude of management and the employees for the
invaluable and dedicated service to the Company of the retiring
directors.
At a meeting of the new Board of Directors that followed the
AGSM, Mrs. Sheree L. Ebanks was
appointed as the new Chair of the Board. Mrs. Ebanks was elected as
a member of the Board of Directors in May
2014 and was appointed as Chair of the Audit Committee of
the Board in May 2020. Mr. Hew welcomed Mrs. Ebanks to her
new position and noted the historic step for the Company in the
appointment of the first female Chair of the Board of
Directors.
CUC provides electricity to Grand
Cayman, Cayman Islands,
under a non-exclusive Electricity Generation Licence expiring in
2039 and an exclusive Electricity Transmission and Distribution
Licence expiring in 2028. 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.