CALGARY, Alberta, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Tornado Global Hydrovacs Ltd. (“Tornado” or the “Company”) (TSX-V:TGH) today announced Voting Results arising from its Annual General and Special Meeting of Shareholders (the “Meeting”) held today.
The shareholders re-elected five (5) directors to the board at the meeting: Guy Nelson, James Chui, George Tai, Chuyu Wu and Bob Marshall. The results of the vote on the election of the Board of Directors are as follows:
60 million proxies represents approximately 48% of the total shares outstanding. Additionally, resolutions approving the following additional matters were passed at the meeting:
- Fixing the number of directors to be elected at five (5): passed with over 99.9% of votes cast in favour.
- Appointing Ernst & Young LLP as auditors of the Company: passed with 100% of votes cast in favour.
- Approval of Company’s Stock Option Plan: passed with over 99.6% of votes cast in favour.
Darrick Evong, a Director of the Company since 2016, decided not to stand for re-election and as such Mr. Evong’s term as Director of the Company came to an end effective today. The Company would like to acknowledge the contributions made by Mr. Evong as a Director and the Chair of the Audit Committee and thank him for his service.
After the formal business portion of the Meeting was completed, Mr. Brett Newton, President and Chief Operating Officer, gave a presentation about the Company. The presentation can be viewed on the company’s website at tornadotrucks.com.
At the Meeting Mr. Bill Rollins, Chief Executive Officer, announced his decision to retire at the end of this year instead of the previously announced retirement of the end of 2022. Mr. Brett Newton, was hired as President and Chief Operating Officer this past summer and the unanimous conclusion of the Directors was that Brett was ready to be appointed CEO following Bill’s retirement. On behalf of the Company, Mr. Nelson thanked Mr. Rollins for his 36 years of leadership and dedication that positioned Tornado incredibly well to continue to grow and increase shareholder value in the years ahead.
About Tornado Global Hydrovacs Ltd.
The Company designs and manufactures hydrovac trucks as well as provides heavy duty truck maintenance operations in central Alberta. It sells hydrovac trucks to excavation service providers in the infrastructure and industrial construction and oil and gas markets. Hydrovac trucks use high pressure water and vacuum to safely penetrate and cut soil to expose critical infrastructure for repair and installation without damage. Hydrovac excavation methods are quickly becoming a standard in the North America to safely excavate in urban areas and around critical infrastructure greatly reducing infrastructure damage and related fatalities. In China, the Company’s subsidiary is used principally to source certain parts to the Company’s North America operations.
For more information about Tornado Global Hydrovacs Ltd., visit www.tornadotrucks.com or contact:
Phone: (416) 949-7227
President & Chief Operating Officer
Phone: (416) 522-6390
Neither the Exchange nor its Regulation Service Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
© 2021 GlobeNewswire, Inc. All Rights Reserved.