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Avalon Announces the Results of its 2021 Annual and Special Meeting of Shareholders
Toronto, Ontario--(Newsfile Corp. - February 26, 2021) - Avalon Advanced Materials Inc. ...
About this update from Avalon Advanced Materials Inc.
[{"type":"text","content":"Avalon Announces the Results of its 2021 Annual and Special Meeting of ShareholdersToronto, Ontario--(Newsfile Corp. - February 26, 2021) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) (\"Avalon\" or the \"Company\") announces the results of its 2021 Annual and Special Meeting of Shareholders held in Toronto, Ontario on February 25, 2021 (the \"Meeting\"). At the Meeting, all five director nominees listed in the Company's information circular dated January 12, 2021 were elected as directors of the Company. The detailed results of the vote are as follows:DirectorNumber of Votes CastPercentage of Votes CastDonald BubarIn Favour:Withheld:85,333,1481,834,43597.90%2.10%Alan FerryIn Favour:Withheld:85,934,9091,052,38798.79%1.21%Naomi JohnsonIn Favour:Withheld:85,853,0281,134,26898.70%1.30%John E. FisherIn Favour:Withheld:85,938,8561,048,44098.79%1.21%Marilyn SpinkIn Favour:Withheld:85,816,7111,170,58598.65%1.35% In addition, at the Meeting shareholders appointed Ernst & Young LLP as auditors of the Company, approved updates to the Company's By-Law No.1, approved the Company's Deferred Share Unit Plan and Restricted Share Unit Plan and approved the Company's Share Capital Amendment, which is designed to reduce the number of the Company's very small registered shareholdings.The Share Capital Amendment will be accomplished by amending the Company's articles to reflect a 500:1 consolidation of the Company's common shares, immediately followed by a 1:500 split of the Company's post-consolidated common shares. The Share Capital Amendment will become effective at 12:01 a.m. on Monday, March 15, 2021. Shareholders holding 500 or more common shares in a brokerage account will continue to hold the exact same number of shares after the Share Capital Amendment that they did prior to the Share Capital Amendment. These shareholders do not need to do anything with respect to the Share Capital Amendment.Shareholders holding 500 or more common shares in the form of a physical certificate will continue to hold the exact same number of shares after the Share Capital Amendment that they did prior to the Share Capital Amendment. However, once the Share Capital Amendment is effected, these shareholders will need to follow the instructions in the letter of transmittal that was sent to them in order to exchange their old share certificat...