VICTORIA, British Columbia--(BUSINESS WIRE)-- Vecima Networks Inc. (“Vecima”) (TSX: VCM) today announced the voting results of Vecima’s annual general meeting of shareholders (the “AGM”), held virtually on December 16, 2024, at 10:00am, Victoria time.

All of the matters put forward before Vecima’s shareholders (the “Shareholders”) for consideration and approval, as set out in Vecima’s Management Information Circular, dated November 17, 2024, were approved by the requisite number of votes cast at the AGM, as further detailed below.

Nomination and Election of Directors

The Shareholders passed a resolution to set the maximum number of directors of Vecima for the ensuing year at six. All six nominees put forward by Vecima were elected as directors.

The following table reflects the votes for each director:

Vecima Welcomes David Rowat to its Board of Directors

Vecima is pleased to announce that Mr. David Rowat has joined its board of directors (the “Board”). As an Independent Director, David brings a wealth of expertise with several decades of leadership experience in the technology sector. Over his career, David has worked with more than 75 companies in C-level roles across finance, mergers and acquisitions, operations, corporate development, and strategic planning.

For the past five years, David has served as a Partner with Strategic Exits Corporation, advising entrepreneurs on structuring and executing optimal transactions. Prior to this, he co-founded and served as Chief Executive Officer of TBF Environmental Technology Inc., a company specializing in the development, manufacturing, and marketing of environmentally friendly chemical solvents. David is also a prolific author, having written numerous books and articles on technology, mergers and acquisitions, and corporate finance for technology founders. Additionally, he has created a comprehensive resource on board governance for early-stage tech companies, available at www.earlystagetechboards.com.

David holds an MBA from Harvard Business School, where he graduated with second-year honors, as well as a Master of Applied Science from the University of British Columbia. He also earned a Bachelor of Applied Science in Systems Design Engineering from the University of Waterloo, where he was awarded the prestigious Sandford Fleming Medal for Outstanding Academic Achievement.

Vecima also announces that Danial Faizullabhoy and Rick Brace have departed the Board, effective today, as they did not seek re-election. Mr. Faizullabhoy and Mr. Brace served on the Board since 2017, and 2022, respectively. “Vecima extends its deepest gratitude to Danial and Rick for their guidance, dedication, and many contributions to Vecima’s strategy, growth and success. Their leadership has been indelibly valuable in advancing Vecima’s mission, and we wish them the very best in their future endeavors,” said Sumit Kumar, Vecima’s President and CEO.

Appointment of Auditors

Grant Thornton LLP was re-appointed as Vecima’s auditors for the ensuing fiscal year and the Board was authorized to fix Grant Thornton LLP’s remuneration.

Detailed AGM voting results are available on Vecima’s SEDAR+ profile, available at www.sedarplus.ca

About Vecima Networks
Vecima Networks Inc. (TSX: VCM) is leading the global evolution to the multi-gigabit, content-rich networks of the future. Our talented people deliver future-ready software, services, and integrated platforms that power broadband and video streaming networks, monitor and manage transportation, and transform experiences in homes, businesses, and everywhere people connect. We help our customers evolve their networks with cloud-based solutions that deliver ground-breaking speed, superior video quality, and exciting new services to their subscribers. There is power in connectivity – it enables people, businesses, and communities to grow and thrive. For more information, please visit our website at www.vecima.com.

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