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    WEF   CA9582112038

WESTERN FOREST PRODUCTS INC.

(WEF)
  Report
Delayed Toronto Stock Exchange  -  05/24 01:47:58 pm EDT
1.790 CAD   -2.72%
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Western Forest Products Inc. : Announces Results of Annual and Special Meeting of Shareholders

05/06/2021 | 05:58pm EDT

TSX: WEF

VANCOUVER, BC, May 6, 2021 /CNW/ - Western Forest Products Inc. (TSX: WEF) ("Western" or the "Company") announces the following voting results in respect of the election of directors, amendments to its Bylaw No.1 and the adoption of its Bylaw No. 2 (advance notice bylaw), as amended on May 5, 2021, at its Annual and Special Meeting of Shareholders (the "Meeting") held today:


Votes For

% For

Votes Withheld or Against

% Withheld or Against

Jane Bird

226,763,803

99.27%

1,677,022

0.73%

Laura A. Cillis

227,226,276

99.47%

1,214,549

0.53%

Donald Demens

226,991,344

99.37%

1,449,481

0.63%

Randy Krotowski

227,378,097

99.53%

1,062,728

0.47%

Daniel Nocente

222,613,904

97.45%

5,826,921

2.55%

Cheri Phyfer

226,631,876

99.21%

1,808,949

0.79%

Michael T. Waites

227,031,750

99.38%

1,409,075

0.62%

John Williamson

227,107,536

99.42%

1,333,289

0.58%

Amendments to Bylaw No. 1

227,476,419

99.58%

964,406

0.42%

Adoption of Bylaw No. 2

226,995,810

99.37%

1,445,015

0.63%

The total number of shares represented by shareholders in person and by proxy at the Meeting was 232,290,649, representing 61.87% of the Company's outstanding shares.

The Company has also filed a report of voting results on all resolutions voted on at the Meeting on www.sedar.com and a copy of Bylaw No. 1 and Bylaw No. 2, as amended, can be found on  www.sedar.com.

About Western Forest Products Inc.

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity in excess of 1.1 billion board feet from eight sawmills and four remanufacturing facilities. The Company sources timber from its private lands, long-term licenses, First Nations arrangements, and market purchases. Western supplements its production through a wholesale program providing customers with a comprehensive range of specialty products.

Cision
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SOURCE Western Forest Products Inc.

© Canada Newswire, source Canada Newswire English

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Analyst Recommendations on WESTERN FOREST PRODUCTS INC.
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Financials
Sales 2022 1 400 M 1 096 M 1 096 M
Net income 2022 139 M 109 M 109 M
Net cash 2022 209 M 164 M 164 M
P/E ratio 2022 4,43x
Yield 2022 2,72%
Capitalization 599 M 469 M 469 M
EV / Sales 2022 0,28x
EV / Sales 2023 0,22x
Nbr of Employees 2 051
Free-Float 99,7%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 1,84 CAD
Average target price 2,70 CAD
Spread / Average Target 46,7%
EPS Revisions
Managers and Directors
Donald Eugene Demens President & Chief Executive Officer
Stephen D. A. Williams Chief Financial Officer & Executive VP
Michael T. Waites Independent Chairman
Daniel Louis Nocente Lead Independent Director
Laura A. Cillis Independent Director
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