CALGARY, Alberta, May 08, 2018 (GLOBE NEWSWIRE) --
NOT FOR DISTRIBUTION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION
MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.
Alaris Royalty Corp. ("Alaris" or the "Corporation") (TSX:AD) is announcing
changes to its Board of Directors as well as the results of voting on the election of directors at this year’s annual general
meeting (the “Meeting”) of shareholders held earlier today, May 8, 2018.
Director Changes
Mr. John Budreski, a director of Alaris since the company went public in 2008, did not stand for re-election in
2018. Mr. Budreski was replaced on this year’s proxy ballot by Mr. Jay Ripley (CPA), a businessman and founder of one of
Alaris’ most successful former partner companies, Sequel Youth and Family Health Services.
“I would like to personally thank John for his nearly ten years of service to Alaris. John has been with
us since the day we went public in 2008 and has been a tremendous contributor to our board. On behalf of the rest of our
board, management and all of our shareholders, we wish John the best with his other business interests,” said Steve King, President
and Chief Executive Officer, Alaris.
Mr. King continues, “Jay Ripley will give our board a unique skillset from his broad experience as an incredibly
successful entrepreneur including experience running public companies, private equity sponsored companies and as a former partner
of Alaris. With the vast majority of our company’s assets being in the United States, we are also pleased to welcome our
first American board member. Our whole company has been lucky enough to get to know Jay and his wife Barbara over the last
five years and look forward to welcoming them back as part of the Alaris family.”
Mr. Ripley is a co-founder and serves as Chairman of Sequel Youth & Family Services, a national operator of
behavioral health services in the USA and former Partner of Alaris. Sequel currently operates 46 programs in 20 states,
serving over 9,000 clients from 42 states and U.S. territories with over 4,000 employees. Mr. Ripley is also a founding partner and
an Advisory Board member of CYWP Funds, a group of private equity funds located in the Washington, DC area which invest in
operating businesses and real estate across the USA. Previously, Mr. Ripley was a co-founder and the principal owner of BGR, “The
Burger Joint”, a highly-acclaimed fast-casual gourmet burger restaurant concept. Additionally, Mr. Ripley was a founding
stockholder of Youth Services International, and served as its President and COO as well as its CFO. Mr. Ripley also served
as President and CEO of Precision Auto Care, a worldwide franchisor of automotive service centers, as well as Corporate Controller
and then VP Eastern Division Operations for Jiffy Lube, the leading franchisor of quick lube centers in North America. He
began his career with Ernst & Young, CPAs in Baltimore, MD. Mr. Ripley is a Summa Cum Laude graduate of the University of Baltimore
(“UB”), and has served as a member of UB’s Foundation board for the past six years. He is a member of the
Chief Executives Organization as well as the Young Presidents Organization.
Voting Results
Each of the nominee directors recommended by management and listed in the Corporation’s information circular and
proxy statement dated March 23, 2018 was elected as a director for a term ending at the next annual meeting of shareholders.
The results of the voting for each individual director are set forth below:
| Director |
|
For |
|
Withhold |
| Jack C. Lee |
|
16,167,995 (98.29%) |
|
281,863 (1.71%) |
| E. Mitchell Shier |
|
15,429.869 (93.80%) |
|
1,019,989 (6.20%) |
| Mary C. Ritchie |
|
16,171,687 (98.31%) |
|
278,171 (1.69%) |
| Stephen King |
|
16,391,822 (99.65%) |
|
58,036 (0.35%) |
| Gary Patterson |
|
16,160,416 (98.24%) |
|
289,442 (1.76%) |
| Robert Bertram |
|
15,868,862 (96.47%) |
|
580,996 (3.53%) |
| Jay Ripley |
|
16,384,003 (99.60%) |
|
65,855 (0.40%) |
| |
|
|
|
|
Final voting results on all matters voted on at the meeting will be filed on SEDAR (www.sedar.com) under Alaris’
profile later today.
About Alaris
The Corporation provides alternative financing to a diversified group of private companies (“Private
Company Partners”) in exchange for royalties or distributions from the Private Company Partners, with the principal
objective of generating stable and predictable cash flows for dividend payments to its shareholders. Royalties or
distributions to Alaris from the Private Company Partners are adjusted annually based on the percentage change of a "top line"
financial performance measure such as gross margin, same clinic sales, gross revenues and same-store sales and rank in priority to
the owners’ common equity position.
For further information please contact:
Curtis Krawetz
Vice President, Investments and Investor Relations
Alaris Royalty Corp.
P: (403) 221-7305
Suite 250, 333 24th Avenue S.W., Calgary, Alberta T2S 3E6
