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    KBL   CA48243M1077

K-BRO LINEN INC.

(KBL)
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K Bro Linen : Bro Announces Annual General Meeting Results

06/29/2021 | 06:01pm EDT

(TSX: KBL)

EDMONTON, AB, June 29, 2021 /CNW/ - K-Bro Linen Inc. (the "Corporation") announced today announced the results of its annual general meeting (AGM), held on June 29, 2021. A total of 7,487,646 shares were voted in person or by proxy, representing 70.1% of the outstanding shares as of the record date. Shareholders approved all items of business before the AGM, including the election of directors as follows:


%Votes For:

% Votes Withheld:

Matthew Hills

91.37%

8.63%

Steven Matyas

91.04%

8.96%

Linda McCurdy

98.52%

1.48%

Michael Percy

98.18%

1.82%

Elise Rees

98.73%

1.27%








%Votes For:

% Votes Withheld:

PricewaterhouseCoopers 

99.72%

0.28%

The Corporation also announces the addition of Elise Rees to the Board of Directors. Ms. Rees will also serve as Chair of the Audit Committee. Ms. Rees has over 35 years of experience in public accounting and spent 18 years as a partner with Ernst & Young LLP with 14 of these years focused on acquisitions, mergers and corporate restructuring. Ms. Rees is a Chartered Professional Accountant and obtained her FCPA and FCA designation from the Institute of Chartered Accountants of BC in 2010.  

CORPORATE PROFILE

K-Bro is the largest owner and operator of laundry and linen processing facilities in Canada and a market leader for laundry and textile rental services in Scotland and the North East of England. K-Bro and its wholly owned subsidiaries, operate across Canada and the United Kingdom ("UK"), providing a range of linen services to healthcare institutions, hotels and other commercial accounts that include the processing, management and distribution of general linen and operating room linen. 

K-Bro's operations in Canada include nine processing facilities and two distribution centres under three distinctive brands, including K-Bro Linen Systems Inc., Buanderie HMR and Les Buanderies Dextraze, in ten Canadian cities: Québec City, Montréal, Toronto, Regina, Saskatoon, Prince Albert, Edmonton, Calgary, Vancouver and Victoria.

K-Bro's operations in the UK include Fishers Topco Ltd. ("Fishers") which was acquired by K-Bro on November 27, 2017. Fisher's is a leading commercial laundry business in Scotland and the North East of England providing linen and garments primarily to the hospitality sector. Fishers was established in 1900 and is an operator of laundry and linen processing facilities in Scotland, providing linen rental, workwear hire and cleanroom garment services to the hospitality, healthcare, manufacturing and pharmaceutical sectors. Fishers' client base includes major hotel chains and prestigious venues across Scotland and the North East of England. The company operates in Scotland and the North East of England with facilities in Cupar, Perth, Newcastle, Livingston,  and Coatbridge.

Additional information regarding the Corporation including required securities filings are available on our website at www.k-brolinen.com and on the Canadian Securities Administrators' website at www.sedar.com; the System for Electronic Document Analysis and Retrieval ("SEDAR").

K-Bro est le plus important propriétaire et exploitant de buanderies au Canada. K-Bro fournit une gamme étendue de services de buanderie aux établissements de soins de santé, hôtels et autres clients commerciaux. K-Bro exploite actuellement neuf usines et deux centres de distribution sous trois entités distinctes, incluant K-Bro Linen Systems Inc., Buanderie HMR et Les Buanderies Dextraze, dans dix villes canadiennes: Québec, Montréal, Toronto, Regina, Saskatoon, Prince Albert, Edmonton, Calgary, Vancouver et Victoria.

Les activités de K-Bro Linen Systems s'étendent maintenant au Royaume-Uni avec l'entreprise Fishers Topco Ltd. («Fishers») qui a été acquise par K-Bro le 27 novembre 2017. Fisher's est une importante entreprise de buanderie commerciale en Écosse et au nord-est de l'Angleterre qui traite en premier lieu la literie et les vêtements du secteur de l'hôtellerie. Fishers fut fondée en 1900, et elle exploite des installations de buanderie et de traitement du linge en Écosse, fournissant des services de location de linge, de location de vêtements de travail, de vêtements pour salle blanche du secteur hospitalier, et de vêtements pour les secteurs de l'hôtellerie, de la santé, de la fabrication et du pharmaceutique. La clientèle de Fishers comprend de grandes chaînes hôtelières et des sites prestigieux à travers l'Écosse et le nord-est de l'Angleterre. La société opère dans sept villes, dont une, en Écosse et dans le nord-est de l'Angleterre, avec des installations à Cupar, Perth, Newcastle, Livingston, Inverness et Coatbridge.

Vous pouvez obtenir des renseignements supplémentaires sur la Société, y compris les documents déposés auprès des autorités de réglementation, sur notre site Web, au www.k-brolinen.com et sur le site Web des autorités canadiennes en valeurs mobilières au www.sedar.com, via le Système électronique de données, d'analyse et de recherche (« SEDAR »).

SOURCE K-Bro Linen Inc.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2021 225 M 178 M 178 M
Net income 2021 21,1 M 16,6 M 16,6 M
Net Debt 2021 37,9 M 29,9 M 29,9 M
P/E ratio 2021 28,9x
Yield 2021 2,93%
Capitalization 434 M 342 M 343 M
EV / Sales 2021 2,09x
EV / Sales 2022 1,66x
Nbr of Employees 2 000
Free-Float 98,2%
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 40,90 CAD
Average target price 52,64 CAD
Spread / Average Target 28,7%
EPS Revisions
Managers and Directors
Linda McCurdy President, Chief Executive Officer & Director
Kristie L. Plaquin Chief Financial Officer
Ross S. Smith Chairman
Sean P. Curtis Chief Operating Officer & Senior Vice President
Steven Emanuel Matyas Independent Director
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