Foraco Announces Election of Directors

TORONTO and MARSEILLE, France, May 9, 2019 /CNW/ - Foraco International SA (TSX: FAR) (the "Company" or "Foraco"), in accordance with Toronto Stock Exchange ("TSX") requirements, announced the voting results for the election of its Board of Directors at the ordinary meeting of shareholders of the Company held on May 7, 2019 in Marseille, France (the "Meeting"). 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.

The director nominees, as listed in the Company's management proxy circular, were elected as directors of the Company at the Meeting. The proxy votes submitted for each director were as follows:

Daniel Simoncini

Shareholders	PRESENT	POWERS	PROXIES	Total votes	% of votes for	RESULT Adopted
FOR	209,209	43,048,559	5,654,257	48,912,025	99.92%	Adopted
AGAINST			38,050	38,050	0.08%
Non vote/spoiled			200	200	0

 

Jean-Pierre Charmensat

Shareholders	PRESENT	POWERS	PROXIES	Total votes	% of votes for	RESULT Adopted
FOR	209,209	43,048,559	5,654,257	48,912,025	99.92%	Adopted
AGAINST			38,050	38,050	0.08%
Non vote/spoiled			200	200	0

 

Bruno Chabas

Shareholders	PRESENT	POWERS	PROXIES	Total votes	% of votes for	RESULT Adopted
FOR	209,209	43,048,559	5,443,537	48,701,305	99.49%	Adopted
AGAINST			248,770	248,770	0.51%
Non vote/spoiled			200	200	0

 

Warren Holmes

Shareholders	PRESENT	POWERS	PROXIES	Total votes	% of votes for	RESULT Adopted
FOR	209,209	43,048,559	5,654,257	48,912,025	99.92%	Adopted
AGAINST			38,050	38,050	0.08%
Non vote/spoiled			200	200	0

 

Jorge Hurtado

Shareholders	PRESENT	POWERS	PROXIES	Total votes	% of votes for	RESULT Adopted
FOR	209,209	43,048,559	5,654,257	48,912,025	99.92%	Adopted
AGAINST			38,050	38,050	0.08%
Non vote/spoiled			200	200	0

 

In addition, the Meeting voted 99.98% in favour of the Company declaring a nil dividend in connection with the allocation of the Company's earnings (loss) for the 2018 fiscal year of €(3,383,971).

The Company's statutory filings are available at www.sedar.com.

About Foraco

Foraco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third largest global drilling enterprise with a presence in 23 countries across five continents. For more information about Foraco visit www.foraco.com or please contact:

SOURCE Foraco International SA

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