FORACO ANNOUNCES ELECTION OF DIRECTORS AND DECLARATION OF CAD$ 0.06 DIVIDEND PER COMMON SHARE
In accordance with French law, shareholders of the Company, when voting in elections for directors, are given the option to vote "for" or "against/abstain" for the director nominees, meaning that it is not possible for nominees for directors to receive a majority of "withhold" votes and retain their position as directors of the Company. The director nominees, as listed in the Company's management proxy circular dated
Shareholders |
PRESENT |
POWERS |
PROXIES |
Total Votes |
% of Votes |
RESULT |
FOR |
230,209 |
48,476,656 |
10,012,809 |
58,719,674 |
93.26 % |
Adopted |
AGAINST |
|
|
4,243,216 |
4,243,216 |
6.74 % |
|
ABSTAIN |
|
|
0 |
|
|
|
Jean-Pierre Charmensat
Shareholders |
PRESENT |
POWERS |
PROXIES |
Total Votes |
% of Votes |
RESULT |
FOR |
230,209 |
48,476,656 |
9,802,089 |
58,508,954 |
92.93 % |
Adopted |
AGAINST |
|
|
4,453,936 |
4,453,936 |
7.07 % |
|
ABSTAIN |
|
|
0 |
|
|
|
Shareholders |
PRESENT |
POWERS |
PROXIES |
Total Votes |
% of Votes |
RESULT |
FOR |
230,209 |
48,476,656 |
9,541,989 |
58,248,854 |
92.51 % |
Adopted |
AGAINST |
|
|
4,714,036 |
4,714,036 |
7.49 % |
|
ABSTAIN |
|
|
0 |
|
|
|
Shareholders |
PRESENT |
POWERS |
PROXIES |
Total Votes |
% of Votes |
RESULT |
FOR |
230,209 |
48,476,656 |
9,541,989 |
58,248,854 |
92.51 % |
Adopted |
AGAINST |
|
|
4,714,036 |
4,714,036 |
7.49 % |
|
ABSTAIN |
|
|
0 |
|
|
|
Shareholders |
PRESENT |
POWERS |
PROXIES |
Total Votes |
% of Votes |
RESULT |
FOR |
230,209 |
48,476,656 |
9,541,989 |
58,248,854 |
92.51 % |
Adopted |
AGAINST |
|
|
4,714,036 |
4,714,036 |
7.49 % |
|
ABSTAIN |
|
|
0 |
|
|
|
In addition, at the Meeting, the shareholders voted 100% in favour of the Company declaring a cash dividend for the 2023 fiscal year. Accordingly,
Payment of the Dividend to a non-French resident shareholder is generally subject to French withholding tax at a rate of 12.8% for individuals and 25% for non individuals. A general summary of the principal withholding tax considerations pursuant to French law with respect to such shareholders is available on
The Company's statutory filings, including its complete report of voting results from the Meeting, are available at www.sedarplus.ca.
This document may contain "forward–looking statements" and "forward–looking information" within the meaning of applicable securities laws. These statements and information include estimates, forecasts, information and statements as to Management's expectations with respect to, among other things, the payment of the special dividend. Often, but not always, forward-looking statements and information can be identified by the use of words such as "will" or the negative thereof or variations thereon or similar terminology. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are cautioned that any such forward-looking statements and information are not guarantees and there can be no assurance that such statements and information will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated
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