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Press release from CNW Group

The Churchill Corporation Annual General Meeting Results

Thursday, May 23, 2013

The Churchill Corporation Annual General Meeting Results

18:15 EDT Thursday, May 23, 2013

CALGARY, May 23, 2013 /CNW/ - The Churchill Corporation (TSX: CUQ) (TSX: CUQ.DB) ("Churchill" or the "Corporation") today announced the results from its annual general meeting held on May 23rd.

All matters submitted to the vote of shareholders were approved.  All nominees listed in Churchill's notice of meeting and information circular dated April 1, 2013, were elected as directors.  The results of the votes are as follows:

Nominee For   Withheld  
RICHARD T. BALLANTYNE 16,766,510 99.59% 69,524 0.41%
ALBRECHT W.A. BELLSTEDT 14,599,402 86.72% 2,236,632 13.28%
ROD GRAHAM 16,751,500 99.50% 84,534 0.50%
WENDY L. HANRAHAN 14,610,413 86.78% 2,225,621 13.22%
DOUGLAS J. HAUGHEY 14,907,105 88.54% 1,928,929 11.46%
HARRY A. KING 14,425,734 85.68% 2,410,300 14.32%
CARMEN R. LOBERG 14,608,993 86.77% 2,227,041 13.23%
ALLISTER J. MCPHERSON 14,601,902 86.73% 2,234,132 13.27%
IAN M. REID 14,600,902 86.72% 2,235,132 13.28%
GEORGE M. SCHNEIDER 14,461,575 85.90% 2,374,459 14.10%
BRIAN W.L. TOD 14,131,689 83.94% 2,704,345 16.06%

Two new directors, Richard Ballantyne and Rod Graham, were elected at the meeting.  "We are pleased to welcome Rich and Rod to Churchill's Board of Directors," said Al Bellstedt, Chair of the Board.  Both of these gentlemen bring a wide range of skills and experience that will strengthen the Board as the Corporation moves forward."

Churchill also confirmed today that Doug Haughey, Churchill's CEO, will conclude the term of his executive employment agreement with the Corporation on May 31, 2013.  As the final step in the Corporation's eight month transition plan, David LeMay will be appointed President and CEO of the Corporation effective June 1, 2013.

"The Board of Directors would like to welcome David to the role and look forward to his strong leadership as we implement our go-forward action plan," said Al Bellstedt.  "We would also like to thank Doug for accepting the role as CEO during a difficult time in Churchill's history.  We were fortunate to be able to secure an individual of Doug's calibre and experience to lead the organization through this important transition."

"It's been my pleasure to lead this repositioning of Churchill and as a team we are all proud of what we have accomplished during the past 8 months," said Doug Haughey.  "Going forward, David is the right person at the right time, and brings a wealth of construction experience and strategic vision to the CEO role."

About The Churchill Corporation

The Churchill Corporation provides building construction, commercial and industrial electrical contracting, earthmoving and industrial insulation services to an array of public and private sector clients. Churchill operates office locations throughout British Columbia, Alberta, Saskatchewan, Manitoba and northern Ontario. Churchill common shares and convertible debentures are listed on the Toronto Stock Exchange under the symbols "CUQ" and "CUQ.DB", respectively. www.churchillcorporation.com

Forward Looking Information
This press release contains certain statements that may constitute forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, without limitation, statements pertaining to the Corporation's future success and the strength of its Board of Directors. Often, but not always, forward-looking information can be identified by the use of such words as "may", "will", "expect", "believe", "plan", "intend", "estimate", "outlook", "forecast", "should", "anticipate" and other similar terminology, including statements concerning possible or assumed future results. Forward-looking information is based on management's reasonable assumptions, analysis and estimates in respect of its experience and perception of trends, current economic conditions, government policies and expected developments, as well as other material factors that it considers to be relevant at the time of making such statements.

By its nature, forward-looking information involves known and unknown risks and uncertainties, which give rise to the possibility that management's assumptions, analysis and estimates will be incorrect and that the Corporation's anticipated results will not be achieved. Although the Corporation believes that the statements with respect to forward-looking information are reasonable and current, such statements should not be interpreted as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Forward-looking information is necessarily subject to a number of factors that may cause actual results to differ materially from those results implied by the expectations suggested by such information. Those factors include, without limitation, the risks and uncertainties described in the Corporation's Annual Information Form filed with the securities regulatory authorities in Canada under the Corporation's profile at www.sedar.com.  Readers are encouraged to consider the foregoing risks and other factors carefully when evaluating the forward-looking information and are cautioned not to place undue reliance upon such information when making investment decisions.

The forward-looking information in this press release is current to the date hereof, and is subject to change following such date.  While the Corporation may elect to do so, unless required by applicable law, it undertakes no obligation to update this information to reflect new information or circumstances at any particular time.

 

SOURCE: The Churchill Corporation

For further information:

Andrew Apedoe
Vice President, Investor Relations
The Churchill Corporation
(403) 685-7775
Email: inquiries@churchill-cuq.com

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