Callidus Capital Announces Election of Directors

TORONTO, May 17, 2016 /CNW/ - Callidus Capital Corporation (TSX:CBL), ("Callidus" or the "Company"), today announced that all of the nominee directors listed in the Company's management information circular dated April 13, 2016, were elected as directors of the Company. The vote was conducted at the Company's annual and special meeting of shareholders held on May 17, 2016.  Detailed results of the vote for the election of directors, the appointment of auditors, and the resolution renewing the incentive plan of the Company are set out below.






Nominee

Votes For

%
For

Votes Withheld

%

Withheld

Bradley Ashley

38,923,905

99.98 %

7,644

0.02 %

Tibor Donath

37,901,846

97.36 %

1,029,703

2.64 %

Newton Glassman

38,464,797

98.80 %

466,752

1.20 %

Jim Riley

38,464,387

98.80 %

467,162

1.20 %

David Sutin

37,901,846

97.36 %

1,029,703

2.64 %

 

In addition, the resolution to appoint KPMG LLP as auditors of the Company for the ensuing year and to authorize the directors to fix their remuneration was approved by a vote by way of a show of hands.

Voting results on the resolution renewing the incentive plan of the Company are set out below:





Votes For

% For

Votes Against

% Against

36,550,972

93.89 %

2,380,577

6.11 %

 

About Callidus Capital Corporation
Established in 2003, Callidus Capital Corporation is a Canadian company that specializes in innovative and creative financing solutions for companies that are unable to obtain adequate financing from conventional lending institutions. Unlike conventional lending institutions who demand a long list of covenants and make credit decisions based on cash flow and projections, Callidus credit facilities have few, if any, covenants and are based on the value of the company's assets, its enterprise value and borrowing needs. Callidus employs a proprietary system of monitoring collateral and exercising control over the cash inflows and outflows of each borrower, enabling Callidus to very effectively manage risk of loss. Further information is available on our website, www.calliduscapital.ca.

SOURCE Callidus Capital Corporation

For further information: Paula Myson | (416) 945-3226 | pmyson@calliduscapital.ca


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