VANCOUVER — Central 1 Credit Union (“Central 1”) is pleased to announce that its members have passed a special resolution approving amendments to its Constitutions and Rules (“Rules”), three dues resolutions and a resolution re-appointing its auditors, at its Annual General and Special Meeting held on April 25, 2019 (the “Meeting”).
In order to be approved, the special resolution was required to receive the approval of: (i) not less than 50% plus one of the Class “A” members voting on the resolution; and (ii) not less than 2/3 of the votes cast by Class “A” members voting on the resolution, on the basis of one vote per Class A share held.
Below are the voting results on the special resolution:
of the Vote
|Votes cast by Class “A” Members on the basis of one vote per Class “A” share||Votes cast by Class “A” Members based on one member, one vote|
|Votes For||Votes Against||Votes For||Votes Against|
|Special Resolution 19-AGM-S-1 removes the provision in Central 1’s Rules requiring the appointment of, and mandating the composition of, the Legislative Committee.||Carried||99.7%||0.3%||95.5%||4.5%|
At the Meeting, Class “A” Members approved, by ordinary resolution, the appointment of the auditors to hold office until the conclusion of the next annual general meeting of Central 1 at a remuneration to be set by Central 1’s board of directors, the 2019 operating dues, the 2019 flow-through dues and the 2019 government relations, marketing and research dues (flow-through).
Central 1 announced on March 4, 2019 that Bill Kiss was re-elected and Mary Falconer and Cheryl Wallace were elected to Central 1’s board of directors. Each re-elected and elected director was elected to a three-year term commencing at the conclusion of the 2019 annual general meeting and expiring at the conclusion of the 2022 annual general meeting. In addition, Meridian Credit Union Limited appointed Sunny Sodhi to Central 1’s board of directors, also for a term of three years commencing at the conclusion of the 2019 annual general meeting and expiring at the conclusion of the 2022 annual general meeting.
Central 1’s Board of Directors believes that the diversity of the newly elected and appointed directors contribute to a board that is diverse, including in background, skills, experience and gender, and reflects the diversity of the communities that Central 1 serves.
Effective at the conclusion of the Meeting, Central 1’s Board of Directors is composed of the following directors:
|Angela Kaiser||Bill Kiss|
|Blaize Reich||Cheryl Wallace|
|Jan O’Brien||Joel Lalonde|
|John Kortram||Launi Skinner|
|Mary Falconer||Penny-Lynn McPherson|
|Rick Hoevenaars||Rob Paterson|
|Rob Wellstood||Shelley McDade|
Also, on April 25, 2019, Bill Kiss and Rick Hoevenaars were re-elected as Board Chair and Vice-Chair, respectively, for a term of one (1) year.
About Central 1
Central 1 is a preferred partner for financial, digital banking and payments products and services – fueling the success of businesses across Canada. We leverage our scale, strength and expertise to power progress for more than 250 credit unions and other financial institutions, enhancing the financial well-being of more than 5 million customers from coast to coast. For more information, visit www.central1.com.
Caution Regarding Forward Looking Statements
This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. These include, without limitation, statements contain the words “may,” “will,” “intends” and “anticipates” and other similar words and expressions. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made. Actual results may differ materially from those currently anticipated. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. Certain important assumptions by Central 1 in making forward-looking statements include, but are not limited to, directors fulfilling their expected terms of office and corporate governance schedules. Important risk factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include risks detailed from time to time in Central 1’s periodic reports filed with securities regulators. Given these risks, the reader is cautioned not to place undue reliance on forward-looking statements. Central 1 undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws
VP, Member Relations & Stakeholder Engagement