Avigilon Announces Results of Annual General and Special Meeting

Avigilon Shareholders Pass All Resolutions by Overwhelming Majority

VANCOUVER, CANADA, June 23, 2016 /CNW/ - Avigilon Corporation ("Avigilon" or the "Company") (TSX: AVO), provider of trusted security solutions, today announced the voting results for its Annual General and Special Meeting of shareholders held on June 23, 2016 in Vancouver, British Columbia (the "Meeting").

Avigilon's shareholders approved all of the Meeting's resolutions by an overwhelming majority. The details of voting follow:

Set the Number of Directors of Avigilon at Eight

Votes For

% For

Votes Against

% Against

21,745,505

99.74

57,606

0.26

 

Re-appointment of PricewaterhouseCoopers LLP as Avigilon's Auditor

Votes For

% For

Votes Withheld

% Withheld

21,755,284

99.78

47,829

0.22

 

Election of Directors

Nominee

Votes For

% For

Votes Withheld

% Withheld

Alexander Fernandes

20,302,119

97.87

441,555

2.13

Wan Jung

20,319,701

97.96

423,973

2.04

Bruce Marginson

20,302,977

97.88

440,697

2.12

Murray Tevlin

20,095,384

96.87

648,290

3.13

Larry Berg

19,344,101

93.25

1,399,573

6.75

Fred Withers

20,297,426

97.85

446,248

2.15

Mike McKnight

20,307,252

97.90

436,422

2.10

Pradeep Khosla

20,309,509

97.91

434,165

2.09

 

Share Split Resolution

This resolution provides Avigilon's Board of Directors with the discretion to divide the Company's issued and outstanding common shares on a two-for-one basis, such that each existing common share would become two common shares if the resolution were given effect. At this time the Company has no plans to enact this resolution, or to otherwise divide its issued and outstanding shares.

Votes For

% For

Votes Against

% Against

19,513,795

89.50

2,289,117

10.50

 

Shareholder Rights Plan Resolution

This resolution approved the Company's Shareholder Rights Plan dated May 25, 2016 (the "Rights Plan"), which is now in full force and effect. Avigilon's management adopted the Rights Plan to help maximize shareholder value in the event of an unsolicited take-over bid by providing additional time for Avigilon's shareholders to consider the proposed transaction, and for the Board of Directors to explore, solicit, and consider strategic alternatives. The Rights Plan was not adopted in response to, or in anticipation of, any offer or take-over bid. A copy of the Rights Plan is available at www.SEDAR.com on Avigilon's corporate profile.

Votes For

% For

Votes Against

% Against

17,550,974

84.61

3,192,500

15.39

 

Additional details respecting the foregoing resolutions may be found in Avigilon's Management Information Circular dated May 26, 2016, which is available at www.SEDAR.com on Avigilon's corporate profile.

Avigilon's management and Board of Directors thank the shareholders for their ongoing support, and look forward to reporting on further matters as they may occur.

About Avigilon

Avigilon Corporation provides trusted security solutions to the global market. Avigilon designs, develops, and manufactures video analytics, network video management software and hardware, surveillance cameras, and access control solutions. To learn more about Avigilon, visit www.avigilon.com.

© 2016, Avigilon Corporation. AVIGILON and the AVIGILON logo are trademarks of Avigilon Corporation.

For further information:

Darren Seed, Vice President, Capital Markets & Communications
T: (604) 629-5182
investors@avigilon.com
www.avigilon.com

Forward-Looking Statements

Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements normally contain words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing' and similar expressions, and within this news release include any statements (express or implied) respecting: the likelihood of any unsolicited take-over offer for the Company; the ability of the Rights Plan to maximize shareholder value; the ability of the Rights Plan to give shareholders adequate time to consider and evaluate any unsolicited take-over offer; and the ability of the Rights Plan to give the Board of Directors adequate time to explore, solicit and consider strategic alternatives.

Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable and appropriate in the circumstances, including, without limitation, assumptions that the Rights Plan is a prudent measure to help maximize shareholder value in connection with any unsolicited take-over offer. 

Although management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Avigilon's business, as more particularly described in the "Risk Factors" section of Avigilon's Annual Information Form dated March 1, 2016, which is available under Avigilon's profile on SEDAR at www.sedar.com. Material risks and uncertainties applicable to the forward-looking statements set out herein include, but are not limited to, unforeseen events, developments or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. Although Avigilon has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Avigilon. Accordingly, readers should not place undue reliance on forward-looking statements. Avigilon undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained in this news release are qualified by this cautionary statement.

SOURCE Avigilon Corporation

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