DRUMMONDVILLE, QC, July 24, 2014 /CNW Telbec/ - CVTech Group Inc. ("CVTech" or "the Corporation") (TSX: CVT) held its Annual and Special Meeting of shareholders on July 23, 2014. All candidates proposed as directors were duly elected to the Board of Directors of the Corporation by a majority of the votes cast by shareholders present or represented by proxy at the Meeting as follows:
|Pierre L. Gauthier||30,591,938||73.36%||11,106,377||26.64%|
Shareholders present or represented by proxy at the Meeting also voted in favour of:
- An ordinary resolution to approve the partial replenishment of the number of common shares reserved under the amended and restated stock option plan of the Corporation by a number of shares corresponding to the number of common shares that have been issued following the exercise of stock options up to a maximum equal to 10% of the 71,533,141 issued and outstanding common shares of the Corporation as of June 19, 2014.
- A special resolution authorizing the Board of Directors of the Corporation to file articles of amendment of the articles of the Corporation in order to change the name of the Corporation for "NAPEC Inc.".
- A special resolution authorizing the Board of Directors of the Corporation to file articles of amendment of the articles of the Corporation in order to allow the directors of the Corporation to appoint one or more additional directors, who shall hold office for a term expiring not later than the close of the next Annual Meeting of shareholders, but the total number of directors so appointed may not exceed one third of the number of directors elected at the previous Annual Meeting of shareholders.
OVERVIEW OF THE CORPORATION
CVTech is a company operating in the energy sector. The Corporation is a leading provider of construction and maintenance services to the public utility and heavy industrial markets mainly in Quebec, Ontario and the eastern United States. Through its subsidiaries, the Corporation provides maintenance and construction services for electricity transmission and distribution networks, substations and electrical power houses, as well as the control of vegetation on rights-of-way for electrical lines.
This document may contain forward-looking statements that reflect management's current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management assumes no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.
SOURCE: CVTECH GROUP INC.
For further information:
Jacques Joly, CPA, CA, ASC
Chairman of the Board of Directors
and Interim President and CEO