The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from PR Newswire

Penn West Exploration Announces Voting Results from the 2013 Annual and Special Meeting of Shareholders

Thursday, June 06, 2013

Penn West Exploration Announces Voting Results from the 2013 Annual and Special Meeting of Shareholders

13:57 EDT Thursday, June 06, 2013

CALGARY, June 6, 2013 /PRNewswire/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST") is pleased to announce that its shareholders approved all resolutions outlined in the Notice of 2013 Annual and Special Meeting and Management Proxy Circular dated May 6, 2013 (the "Information Circular") at its Annual and Special Meeting held on June 5, 2013 (the "Meeting").

    1. Appointment of Auditor

By resolution passed by show of hands, KPMG LLP, Chartered Accountants, was appointed auditor of Penn West for the ensuing year.

    2. Election of Directors

By resolutions passed by ballot vote, the following eleven nominees proposed by management were elected as directors of Penn West to hold office until the next annual meeting of Shareholders or until their successors are elected or appointed:

Name of Nominee     Votes For       Percent   Votes Withheld   Percent
                       
James E. Allard     174,019,243       80.71%   41,596,184   19.29%
George H. Brookman     165,317,712       76.68%   50,284,763   23.32%
Gillian H. Denham     206,849,150       95.94%   8,750,792   4.06%
Richard L. George     210,698,146       97.72%   4,922,349   2.28%
Daryl H. Gilbert     171,587,211       79.58%   44,021,538   20.42%
Allan P. Markin     211,766,828       98.21%   3,851,937   1.79%
Murray R. Nunns     198,471,171       92.07%   17,105,887   7.93%
Frank Potter     206,403,159       95.74%   9,193,212   4.26%
Jack Schanck     206,811,969       95.92%   8,794,783   4.08%
James C. Smith     206,987,547       96.00%   8,621,473   4.00%
Jay W. Thornton     209,074,418       96.97%   6,534,502   3.03%

    3. Non-Binding Advisory Vote on Approach to Executive Compensation

By resolution passed by ballot vote, an advisory resolution was passed to approve Penn West's approach to executive compensation as outlined in the Information Circular.  The results of the ballot were as follows:

Votes For     Percent     Votes Against     Percent
197,561,184     91.61%     18,092,835     8.39%

    4. Approval of Unallocated Options Pursuant to the Stock Option Plan

By resolution passed by ballot vote, all unallocated options to acquire common shares under Penn West's stock option plan until June 5, 2016 were approved.  The results of the ballot were as follows:

Votes For     Percent     Votes Against     Percent
188,295,828     87.31%     27,362,007     12.69%

    5. Approval of Stock Option Plan Amendment

By resolution passed by ballot vote, an amendment to the amending provisions of Penn West's stock option plan was approved.  The results of the ballot were as follows:

Votes For     Percent     Votes Against     Percent
195,995,724     90.88%     19,659,177     9.12%

    6. Approval of Advanced Notice By-Law

By resolution passed by ballot vote, By-Law No. 2 of Penn West relating to the advance notice of nominations of directors was approved.  The results of the ballot were as follows:

Votes For     Percent     Votes Against     Percent
171,625,886     79.58%     44,028,138     20.42%

Penn West shares are listed on the Toronto Stock Exchange under the symbol PWT and on the New York Stock Exchange under the symbol PWE.  

 

 

 

 

SOURCE Penn West Exploration

For further information: <p> <b>PENN WEST EXPLORATION</b><br/> Penn West Plaza<br/> Suite 200, 207 - 9<sup>th</sup> Avenue SW<br/> Calgary, Alberta  T2P 1K3 </p> <p> Phone: 403-777-2500<br/> Fax: 403-777-2699<br/> Toll Free: 1-866-693-2707<br/> Website: <a href="http://www.pennwest.com">www.pennwest.com </a> </p> <p> Investor Relations:<br/> Toll Free: 1-888-770-2633<br/> E-mail: <a href="mailto:investor_relations@pennwest.com">investor_relations@pennwest.com</a><br/> <br/> Murray Nunns, President & Chief Executive Officer<br/> Phone:  403-218-8939<br/> E-mail: <a href="mailto:murray.nunns@pennwest.com">murray.nunns@pennwest.com</a><br/> <br/> Clayton Paradis, Manager, Investor Relations <br/> Phone:  403-539-6343<br/> E-mail: <a href="mailto:clayton.paradis@pennwest.com">clayton.paradis@pennwest.com</a><br/> </p>

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Advertising Privacy
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections