17:51:08 EDT Sat 10 Apr 2021
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Electrovaya Inc
Symbol EFL
Shares Issued 136,025,207
Close 2021-02-17 C$ 2.11
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Electrovaya shareholders elect six directors at AGM

2021-02-17 17:52 ET - News Release

Dr. Sankar Das Gupta reports

ELECTROVAYA ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

All of the resolutions that shareholders were asked to consider at Electrovaya Inc.'s 2021 annual and special meeting, held on Feb. 17, 2021, in Toronto, Ont., were approved. The six directors named in the management information circular of the company, being Dr. Sankar Das Gupta, Dr. Bejoy Das Gupta, Dr. James Jacobs, Dr. Alexander McLean, Dr. Carolyn Hansson and John A. Macdonald, were each elected as directors by over 96 per cent of the votes cast for and less than 4 per cent of the votes withheld at the meeting for each director individually. Detailed results of the vote are set out in the attached table.

                            VOTING RESULTS FOR ELECTION OF DIRECTORS

Nominee                         Votes for      Votes withheld      Percentage of       Percentage of
                                                                       votes for      votes withheld

Dr. Sankar Das Gupta           42,934,315              64,050              99.85%               0.15%
Dr. Bejoy Das Gupta            41,611,415           1,386,950              96.77%               3.23%
Dr. Alexander McLean           42,859,227             139,138              99.68%               0.32%
Dr. Carolyn Hansson            41,666,027           1,332,338              96.90%               3.10%
Dr. James K. Jacobs            42,039,022             959,343              97.77%               2.23%
John A. Macdonald              42,955,327              43,038              99.90%               0.10%

Goodman & Associates LLP was reappointed as the auditor of the company.

The ordinary resolution to amend the stock option plan was passed with 95.13 per cent voting in favour and 4.87 per cent voting against the resolution.

The special resolution authorizing the board to amend the articles of Electrovaya to permit a possible consolidation of the company's issued and outstanding common shares was passed with 94.76 per cent voting in favour and 5.24 per cent voting against the resolution.

The ordinary resolution to approve bylaw No. 2 of the company was passed with 99.71 per cent voting in favour and 0.29 per cent voting against the resolution.

Additional details are included in the report of voting results, filed under the company's profile on SEDAR.

About Electrovaya Inc.

Electrovaya designs, develops and manufactures proprietary lithium ion batteries, battery systems and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya is a technology-focused company with extensive intellectual property. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada with customers around the globe.

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