Business
Tidewater Midstream and infrastructure Ltd. Announces 2020 Shareholder Meeting Results, New Directors, Reiterates Guidance and Provides ESG Disclosure Update
Tidewater Midstream and infrastructure Ltd. Announces 2020 Shareholder Meeting Results, Ne...
About this update from Tidewater Midstream & Infrastructure Ltd.
[{"type":"text","content":"\n\n\n\nTidewater Midstream and infrastructure Ltd. Announces 2020 Shareholder Meeting Results, New Directors, Reiterates Guidance and Provides ESG Disclosure Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, AB, July 8, 2020\n\n\n\nCALGARY, AB, July 8, 2020 /CNW/ -\n\n \n \n \n \n \n \n\n \nShareholder Meeting Results\nTidewater Midstream and Infrastructure Ltd. (\"Tidewater\" or the \"Corporation\") (TSX: TWM) is pleased to announce that at the annual general and special meeting held in Calgary, Alberta on June 29, 2020 (the \"Meeting\") holders of common shares of Tidewater: (i) elected Joel MacLeod, Stephen Holyoake, Douglas Fraser, Margaret A. (Greta) Raymond, Robert Colcleugh, ‎Michael Salamon and Neil McCarron‎ to the Board of Directors; (ii) re-appointed Deloitte LLP, as Tidewater's auditors; (iii) approved the unallocated options under the Corporation's stock option plan; and (iv) passed the non-binding advisory vote on the Corporation's approach to executive compensation. \nFurther disclosure on the matters approved at the Meeting can be found in the Management Information Circular dated May 26, 2020 and the Report of Voting Results for the Meeting on SEDAR.\nElection of Two New Directors\nThe Corporation is pleased to announce that at the Meeting Mr. Michael Salamon and Mr. Neil McCarron, both of Birch Hill Equity Partners Management Inc. (\"Birch Hill\"), were elected to the Board of Directors.  The election of Messrs Salamon and McCarron will add significant capital allocation experience and financial acumen to complement an already strong board with a diverse set of skills.  The Board and Management look forward to continuing to work with Birch Hill, Tidewater's largest shareholder, and its representatives. \nGuidance reiterate\nTidewater is pleased to announce that while general economic conditions gradually recover it reiterates its forecasted Adjusted EBITDA guidance to range from $175 million - $185 million for the full year 2020.  Year-end net debt to Adjusted EBITDA, assuming closing of the...