Crius Energy Trust Announces Voting Results of 2018 Annual and Special Meeting
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
TORONTO, May 29, 2018 (GLOBE NEWSWIRE) — Crius Energy Trust (“Crius” or the “Trust“) (TSX:KWH.UN) is pleased to announce the results of voting at the annual and special meeting (the “Meeting“) of unitholders of the Trust (“Unitholders“) held on May 29, 2018. A total of 21,730,663 units of the Trust (“Units“) were present in person or represented by proxy at the Meeting, representing approximately 38.10% of the issued and outstanding Units.
A report of voting results describing each of the matters voted upon at the Meeting has been filed on SEDAR under the Trust’s issuer profile at www.sedar.com. See below for a summary of the matters voted upon at the Meeting.
Increase in Board Size
The increase in the size of the board of directors of Crius Energy Administrator Inc. (the “Administrator“), the administrator of the Trust, from seven (7) members to eight (8) members, was duly passed by at least two-thirds of the votes cast by Unitholders present or represented by proxy at the Meeting.
Election of Directors
All of the nominees proposed as directors of the Administrator, the administrator of the Trust, that stood for election, were duly elected by at least a majority of votes cast by Unitholders present or represented by proxy at the Meeting.
|James A. Ajello||18,864,935||95.78||831,286||4.22|
|Marcie C. Zlotnik||19,053,474||96.74||642,747||3.26|
Trust Indenture Amendments
The amendments to the trust indenture of the Trust dated September 7, 2012, as amended and restated as of June 20, 2016, concerning governance matters, were duly passed by at least two-thirds of the votes cast by Unitholders present or represented by proxy at the Meeting.
Appointment of Auditors of the Trust
Grant Thornton LLP, Chartered Accountants, was duly re-appointed as the auditor of the Trust, by at least a majority of votes cast by Unitholders present or represented by proxy at the Meeting, to hold office for the ensuing year, and the board of directors of the Administrator was mandated to fix the remuneration of the auditors.
About Crius Energy Trust
With approximately 1.4 million residential customer equivalents, the Trust provides innovative electricity, natural gas and solar products to residential and commercial customers through exclusive partnerships, direct-to-consumer, digital, and broker marketing channels. Our unique brands offer consumers a broad suite of energy products and services including fixed and variable contracts, renewable energy, and bundled products to support their energy needs beyond what is offered by their local utility. Company growth is achieved organically with customers acquired through our diversified marketing channels and through accretive acquisitions. The Trust currently sells energy products in 19 states and the District of Columbia with plans to continue expanding its geographic reach. The Trust is well-positioned to deliver capital appreciation and stable distributions to investors.
The Trust intends to continue to qualify as a “mutual fund trust” under the Income Tax Act (Canada) (the “Tax Act“). The Trust will not be a “SIFT trust” (as defined in the Tax Act), provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any “non-portfolio property” (as defined in the Tax Act). Material information pertaining to Crius may be found on SEDAR under the Trust’s issuer profile at www.sedar.com or on the Trust’s website at www.criusenergytrust.ca.
For further information please contact:
Chief Executive Officer
Chief Financial Officer
Source: Crius Energy Trust