/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
CALGARY,
AB, May 12, 2023 /CNW/ - Cathedral Energy
Services Ltd. (TSX: CET) ("Cathedral" or the
"Company" or "CET") is pleased to announce
that all matters presented at the Company's Annual Meeting of
Shareholders on May 11, 2023, were
approved by a majority of votes cast, including the election of all
seven director nominees proposed by management. A total of
153,104,186 common shares were voted in connection with the
meeting, which represents 68.09% of the issued and outstanding as
of the record date. The vote disposition is as follows:
|
Director
Nominee
|
For
|
%
|
Withhold
|
%
|
|
Ian S. Brown
|
127,813,455
|
89.22
|
15,438,940
|
10.78
|
|
James R. (JR)
Boyles
|
140,730,854
|
98.24
|
2,521,541
|
1.76
|
|
Thomas (Tom) J.
Connors
|
130,529,511
|
91.12
|
12,722,884
|
8.88
|
|
Shuja Goraya
|
139,427,757
|
97.33
|
3,824,638
|
2.67
|
|
Roderick (Rod) D.
Maxwell
|
130,470,436
|
91.08
|
12,781,959
|
8.92
|
|
Scott
Sarjeant
|
125,794,894
|
87.81
|
17,457,501
|
12.19
|
|
Dale E.
Tremblay
|
129,427,757
|
90.35
|
13,825,213
|
9.65
|
We are pleased with strong showing of endorsement by the
Company's shareholders indicating widespread support for
Cathedral's board of directors, its management team, and future
growth strategy.
As previously announced, Cathedral has been engaged in a "size
and scale" initiative for several years, which gained traction in
2021 under the leadership of its President and Chief Executive
Officer, Tom Connors, who joined the
Company in early 2021. The completion of seven acquisitions over
this two-year period is evidence of the execution of that strategy
and has delivered value to our shareholders. Cathedral is focused
on continued growth, integrating its recent acquisitions, capturing
synergies, lowering leverage, and enhancing shareholder
returns.
We would like to thank all of our shareholders for their ongoing
and future support.
ABOUT CATHEDRAL
Cathedral Energy Services Ltd., based in Calgary, Alberta is incorporated under the
Business Corporations Act (Alberta) and operates in the U.S. under
"Discovery Downhole Services" and "Altitude Energy Partners".
Cathedral is publicly-traded on the Toronto Stock Exchange under
the symbol "CET". Cathedral is a trusted partner to North American
energy companies requiring high performance directional drilling
services. We work in partnership with our customers to tailor our
equipment and expertise to meet their specific geographical and
technical needs. Our experience, technologies and responsive
personnel enable our customers to achieve higher efficiencies and
lower project costs. For more information, visit
www.cathedralenergyservices.com.
SOURCE Cathedral Energy Services Ltd.