Mr. Anthony Makuch reports
KIRKLAND LAKE ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS
At Kirkland Lake Gold Ltd.'s annual general and special meeting of shareholders held on June 30, 2020, all resolutions proposed to shareholders were duly passed.
Based on proxies received, 210,350,317 common shares of the company, representing 75.87 per cent of the company's issued and outstanding common shares as at the record date, were voted and the individuals set out in the included table were elected as directors of the company until the next annual meeting of shareholders.
Name of nominee Votes cast for % votes cast for Votes withheld % of votes withheld
Jonathan Gill 178,683,301 92.54% 14,403,453 7.46%
Peter Grosskopf 100,523,312 52.06% 92,563,443 47.94%
Ingrid Hibbard 156,245,873 80.92% 36,840,881 19.08%
Arnold Klassen 148,885,445 77.11% 44,201,309 22.89%
Elizabeth Lewis-Gray 178,631,957 92.51% 14,454,735 7.49%
Anthony Makuch 190,922,688 98.88% 2,164,066 1.12%
Barry Olson 179,264,634 92.84% 13,822,120 7.16%
Jeff Parr 177,259,274 91.80% 15,827,481 8.20%
The company has clarified that a significant number of withhold votes attributable to Mr. Grosskopf are as a result him being overboarded under the provisions of Glass Lewis. The company has assured shareholders that this is being rectified and that Mr. Grosskopf will be resigning from his other board position effective July 29, 2020. As a result, following such resignation, Mr. Grosskopf will only sit on one outside board, being Kirkland Lake Gold.
Mr. Parr, chairman of the board, commented: "We fully appreciate shareholder concerns on overboarding and the challenges which arise when directors are overextended. Given the significant responsibility and time commitment required of a Kirkland Lake board member, we are very pleased to have resolved Peter Grosskopf's overboarding issue. Peter is a valued board member who brings a unique perspective and expertise to our board. We will continue to implement best corporate governance practices going forward to ensure the alignment of interests between shareholders and the board. We would like to thank shareholders for their continued support."
- The number of directors to be elected to hold office until the next annual meeting or until their successors are elected or appointed was fixed at eight, in accordance with the articles and bylaws of the company;
- KPMG LLP, chartered accountants, was appointed as the company's auditor for the ensuing year;
- A non-binding advisory resolution on the company's approach to executive compensation was passed;
- Amendments to the long-term incentive plan and deferred share unit plan were all passed by a majority of shareholders.
For detailed voting results on each resolution, please refer to the company's report of voting results filed on SEDAR.
About Kirkland Lake Gold Ltd.
Kirkland Lake is a growing gold producer operating in Canada and Australia that produced 974,615 ounces in 2019. The production profile of the company is anchored by three high-quality operations, including the Macassa mine and Detour Lake mine, both located in Northern Ontario, and the Fosterville mine located in the state of Victoria, Australia.
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