Northland Power Reports on the 2020 Annual and Special Meeting
Northland is a global developer, owner and operator of sustainable infrastructure assets that deliver predictable cash flows.
TORONTO, May 22, 2020 (GLOBE NEWSWIRE) -- Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) today announced the results of the election of Directors at its Annual and Special Meeting (“the Meeting”) held on May 22, 2020 in a virtual-only meeting format.
The total number of voting shares represented by shareholders present electronically and by proxy at the Meeting was 121,751,941, representing 62.79% of Northland’s outstanding voting shares.
The nine nominees proposed by Management for election as Directors, including the two new Directors, Lisa Colnett and Ian Pearce, were elected. Information on each of the Director Nominees is contained in Northland’s Management Information Circular dated April 15, 2020, which is available on the company’s website at www.northlandpower.com
The votes received were as follows:
| Nominee | Votes For | Percent | Withheld | Percent |
| John W. Brace | 118,793,436 | 97.57% | 2,958,505 | 2.43% |
| James C. Temerty, C.M. | 121,541,064 | 99.83% | 210,877 | 0.17% |
| Linda L. Bertoldi | 121,548,384 | 99.83% | 203,557 | 0.17% |
| Dr. Marie Bountrogianni | 120,651,391 | 99.10% | 1,100,550 | 0.90% |
| Lisa Colnett | 121,570,054 | 99.85% | 181,887 | 0.15% |
| Barry Gilmour | 119,918,755 | 98.49% | 1,833,186 | 1.51% |
| Russell Goodman | 118,798,783 | 97.57% | 2,953,158 | 2.43% |
| Keith Halbert | 120,912,264 | 99.31% | 839,677 | 0.69% |
| Ian Pearce | 117,514,126 | 96.52% | 4,237,815 | 3.48% |
The Board of Directors accordingly fixed the number of Directors to be elected at nine and the election proceeded on that basis.
The Appointment of Ernst & Young LLP to serve as the independent auditors of Northland, and setting of their remuneration, until the next annual meeting was approved. Votes received were as follows:
| Votes For | Percent | Withheld | Percent |
| 117,731,617 | 96.70% | 4,020,324 | 3.30% |
The resolution to confirm the Advance-Notice By-Law adopted by the directors of Northland was approved. Votes received were as follows:
| Votes For | Percent | Against | Percent |
| 121,574,545 | 99.85% | 177,396 | 0.15% |
The resolution to approve administrative changes to the By-Law to permit a virtual only shareholder meeting and to change the quorum requirement for shareholder meetings from 10% to 25% was approved. Votes received were as follows:
| Votes For | Percent | Against | Percent |
| 121,539,572 | 99.83% | 212,369 | 0.17% |
Northland’s approach to executive compensation was accepted. Votes received were as follows:
| Votes For | Percent | Against | Percent |
| 107,432,505 | 88.24% | 14,319,436 | 11.76% |
ABOUT NORTHLAND
Northland is a global developer, owner and operator of sustainable infrastructure assets that deliver predictable cash flows. Headquartered in Toronto, Canada, Northland was founded in 1987 and has been publicly traded since 1997 on the Toronto Stock Exchange (TSX: NPI).
Northland owns or has an economic interest in 2,681 MW (net 2,266 MW) of operating generating capacity and 130 MW of generating capacity under construction, representing the La Lucha solar project in Mexico. Northland also owns a 60% equity stake in the 1,044 MW Hai Long projects under development in Taiwan and operates a regulated utility business in Colombia.
Northland's common shares, Series 1, Series 2 and Series 3 preferred shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A and NPI.PR.B, NPI.PR.C, respectively.
For further information, please contact:
Wassem Khalil, Senior Director, Investor Relations & Strategy
+1 (647) 288-1019
[email protected]
