MONTREAL, April 29, 2022 (GLOBE NEWSWIRE) -- Supremex Inc. (“Supremex” or the “Company”) (TSX: SXP), a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions, today announced the voting results from its Annual General Meeting of Shareholders held on Thursday April 28, 2022.
Voting Results:
A total of 11,255,567 common shares were voted at the meeting representing 42.73% of all outstanding shares. Shareholders voted in favour of the election of all directors’ nominees as follows:
| Nominees |
% For |
% Withheld |
| Nicole Boivin |
98.22 |
1.78 |
| Stewart Emerson |
99.11 |
0.89 |
| Robert B. Johnston |
91.81 |
8.19 |
| Georges Kobrynsky |
99.08 |
0.92 |
| Dany Paradis |
99.08 |
0.92 |
| Steven P. Richardson |
98.26 |
1.74 |
| Andrew I. (Drew) Sullivan |
98.22 |
1.78 |
| Warren J. White |
97.38 |
2.62 |
Appointment of Auditors
Based on the proxies received, Ernst and Young LLP were appointed auditors of the Company and the Board of Directors was authorized to fix their remuneration. The percentage of votes cast with respect of the appointment of the auditors is as follows:
| % For |
% Withheld |
| 99.99 |
0.01 |
Shareholder Proposal One
Based on the proxies received, Shareholder Proposal One, “Supremex Inc. immediately sell and lease back its two owned real estate properties located at 400 Humberline Drive, Toronto and 7213 Rue Cordner, Montreal and surface very significant, hidden value of approximately $62m, or about $2.30 per share,” was rejected. The percentage of votes cast with respect to Shareholder Proposal One is as follows:
| % For |
% Against |
| 29.34 |
70.66 |
Shareholder Proposal Two
Based on the proxies received, Shareholder Proposal Two, “Supremex Inc. not pursue any business acquisitions or capital expenditures exceeding Cdn$5m in aggregate per fiscal year until Supremex’ Enterprise Value/Ebitda multiple is over 5,” was rejected. The percentage of votes cast with respect to Shareholder Proposal Two is as follows:
| % For |
% Against |
| 27.67 |
72.33 |
About Supremex
Supremex is a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions. Supremex operates ten manufacturing facilities across four provinces in Canada and four manufacturing facilities in the United States employing approximately 825 people. Supremex’ growing footprint allows it to efficiently manufacture and distribute envelope and packaging solutions designed to the specifications of major national and multinational corporations, resellers, government entities, SMEs and solutions providers.
For more information, please visit www.supremex.com.
Contact:
Mary Chronopoulos
Chief Financial Officer
investors@supremex.com
514 595-0555, extension 2316
