OAK BROOK, IL, June 14, 2013 /CNW/ - Primary Energy Recycling Corporation (TSX: PRI), a clean energy company that generates revenue from capturing and recycling recoverable heat and byproduct fuels from industrial processes, today announced that shareholders have approved all resolutions put forth at the Annual Meeting of Shareholders held in Toronto, Ontario on Thursday, June 13, 2013.
Shareholders elected each of the Company's nominees for director by the following votes cast by ballot:
|Nominee|| Votes in
|A. Michel Lavigne||29,504,527||93.97||1,894,941||6.03|
|Christopher H. Pickwoad||29,504,494||93.96||1,894,974||6.04|
|John D. Prunkl||29,504,494||93.96||1,894,974||6.04|
|Donald A. Pether||29,504,527||93.97||1,894,941||6.03|
As previously announced, the Company entered into an agreement with MSDC Management, L.P., West Face Capital Inc., Kingstown Capital Management L.P. and Cumberland Private Wealth Management Inc. to appoint two new independent directors to the board following the Annual Meeting of Shareholders. These Shareholders collectively own, or exercise control or direction over, 54.0% of the Company's common shares. In accordance with the agreement, Mr. Pickwoad resigned from the board following the Annual Meeting of Shareholders and the size of the board was increased from seven directors to eight directors. The board appointed Messrs. Robert A. Peiser and Brian Redmond to fill the two resulting vacancies, and Mr. Peiser has replaced Mr. Lavigne as Chairman of the Company's board of directors.
Shareholders voted to re-appoint PricewaterhouseCoopers LLP as the Company's auditor, and authorized the directors to fix the remuneration of the auditor.
Complete voting results can be found on www.sedar.com
About Primary Energy Recycling Corporation
Primary Energy Recycling Corporation, headquartered in Oak Brook, Illinois, owns and operates four recycled energy projects and a 50 per cent interest in a pulverized coal facility (collectively, the "Projects"). The Projects have a combined electrical generating capacity of 298 megawatts and a combined steam generating capacity of 1.8M lbs/hour. Primary Energy Recycling Corporation creates value for its customers by capturing and recycling waste energy from industrial and electric generation processes and converting it into reliable and economical electricity and thermal energy for resale back to its customers. For more information, please go to www.primaryenergy.com.
SOURCE: Primary Energy Recycling Corporation
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Chief Commercial Officer
Media and Investor Relations
416.815.0700 ext. 225