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Pinetree Capital Announces Election of Directors and Details of Share Consolidation and Split
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED ST...
About this update from Pinetree Capital Ltd.
[{"type":"text","content":"Pinetree Capital Announces Election of Directors and Details of Share Consolidation and SplitNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATESTORONTO, ON / ACCESSWIRE / June 30, 2021 / Pinetree Capital Ltd. (TSX:PNP) ('Pinetree') today announced the results of the election of directors at its annual and special meeting of shareholders held earlier today (the 'Meeting'). At the Meeting, all matters put forward before Pinetree's shareholders for consideration and approval, as set out in Pinetree's management information circular dated May 11, 2021, were approved by the requisite number of votes cast at the Meeting.Each of the nominees listed in Pinetree's management information circular dated May 11, 2021 were elected as directors of Pinetree. The results of the shares voted at the Meeting in respect of the election of each director are set out below:NomineeNumber and Percentage of Shares Voted ForNumber and Percentage of Shares WithheldIan P. Howat6,435,042 (99.79%)13,592 (0.21%)Craig Miller6,435,268 (99.79%)13,366 (0.21%)Howard Riback6,435,266 (99.79%)13,368 (0.21%)Peter Tolnai6,258,823 (97.06%)189,811 (2.94%)Damien Leonard6,436,085 (99.81%)12,549 (0.19%)Shareholders also authorized the previously announced amendment to Pinetree's articles to give effect to the 100 to 1 share consolidation of Pinetree's common shares (the 'Share Consolidation') followed immediately by a 1 to 50 share split of Pinetree's common shares (the 'Share Split'). The Share Consolidation and Share Split was approved by approximately 98% of the votes cast by Pinetree shareholders at the Meeting and approximately 95% of the votes cast by minority shareholders of Pinetree at the Meeting.The complete voting results of all matters voted on at the Meeting is available on SEDAR under Pinetree's issuer profile at www.sedar.com.Share Consolidation and Share SplitThe Share Consolidation and Share Split is expected to become effective on July 12, 2021 (the 'Effective Date') for common shares held as of close of business on July 9, 2021. The common shares are expected to begin trading on a post-Share Consolidation and Share Split basis on the Toronto Stock Exchange on or about July 14, 2021 under the same trading symbol.As previously announced, those shareholders who hold less than 100 common shares as of close of busine...