Foraco International : Announces Election Of Directors
May 07, 2020 at 08:41 pm EDT
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TORONTO and MARSEILLE, France, May 7, 2020 /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, 2020 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
57,995,508
3,057,700
61,262,417
99,94%
Adopted
AGAINST
34,400
34,400
0,06%
Non vote/spoiled
Jean-Pierre Charmensat
Shareholders
PRESENT
POWERS
PROXIES
Total votes
% of votes for
RESULT Adopted
FOR
209,209
57,995,508
2,978,070
61,182,787
99,81%
Adopted
AGAINST
114,030
114,030
0,19%
Non vote/spoiled
Bruno Chabas
Shareholders
PRESENT
POWERS
PROXIES
Total votes
% of votes for
RESULT Adopted
FOR
209,209
57,995,508
2,767,350
60,972,067
99,47%
Adopted
AGAINST
324,750
324,750
0,53%
Non vote/spoiled
Warren Holmes
Shareholders
PRESENT
POWERS
PROXIES
Total votes
% of votes for
RESULT Adopted
FOR
209,209
57,995,508
2,767,350
60,972,067
99,47%
Adopted
AGAINST
324,750
324,750
0,53%
Non vote/spoiled
Jorge Hurtado
Shareholders
PRESENT
POWERS
PROXIES
Total votes
% of votes for
RESULT Adopted
FOR
209,209
57,995,508
3,077,700
61,282,417
99,98%
Adopted
AGAINST
14,400
14,400
0,02%
Non vote/spoiled
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 (profit) for the 2019 fiscal year of €368,355 .
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 22 countries across five continents.
Foraco International S.A. is a France-based company engaged in the mining, geological and hydraulic drilling sectors. The Company's principle business consists of drilling contracts for companies primarily involved in mining and water exploration. The Company operates in two business segments: Mining and Water. The Mining segment covers drilling services offered to the mining and energy industry during the exploration, development and production phases of mining projects. The Water segment covers all activities linked to the construction of water wells leading to the supply of drinking water, the collection of mineral water, as well as the control, maintenance and renovation of the existing installations. The Water segment also includes drilling services offered to the environmental and construction industry, such as geological exploration and geotechnical drilling.
FORACO INTERNATIONAL SA 
