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Neptune Announces the Election of its Directors and Voting Results

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Neptune Announces the Election of its Directors and Voting Results

PR Newswire

LAVAL, QC, Aug. 15, 2018 /PRNewswire/ - Neptune Technologies & Bioressources Inc. ("Neptune" or the "Company") (NASDAQ:NEPT) (TSX:NEPT), announces  the voting results for the matters listed in its management proxy circular dated July 17, 2018 held at its Annual and Special Meeting of Shareholders in Montreal, Canada on August 15, 2018 (the "AGM").

Logo: Neptune Technologies & Bioresources inc. (CNW Group/Neptune Technologies & Bioresources inc.)

Election of Directors. According to proxies received and a vote by show of hands, the following individuals were elected as directors of Neptune for the ensuing year.  

 

Nominee

Votes

For

% Votes

For

Votes

Withheld

% Votes

Withheld

John M. Moretz

25,578,652

95.93%

1,084,928

4.07%

Katherine Crewe

25,606,234

96.03%

1,057,346

3.97%

Ronald Denis

25,944,136

97.30%

719,444

2.70%

Richard Schottenfeld

25,948,860

97.32%

714,720

2.68%

James S. Hamilton

25,659,402

96.23%

1,004,178

3.77%

 

Appointment of Auditors. According to proxies received and a vote by show of hands, KPMG LLP were appointed as the Corporation's auditors for the ensuing fiscal year and the directors were authorized to fix their remuneration.

 

KPMG LLP

Votes in Favor

% In Favor

Votes Withheld

% Withheld

52,970,259

99.77%

122,716

0.23%

 

Approval of Stock Option Plan Renewal. According to proxies received and a vote by show of hands, the unallocated options under the Corporation's stock option plan were approved.

 

Stock Option Plan Renewal

Votes in Favor

% In Favor

Votes Against

% Against

24,143,393

90.55%

2,520,187

9.45%

 

Approval of Amended Stock Option Plan. According to proxies received and a vote by show of hands, a majority of disinterested shareholders1 approved the Corporation's amended stock option plan.

 

Stock Option Plan Amendment

Votes in Favor

% In Favor

Votes Against

% Against

16,748,124

86.22%

2,677,471

13.78%

 

Approval of Stock Option Grants. According to proxies received and a vote by show of hands, a majority of disinterested shareholders2 approved the grant of 2,095,333 options to purchase common shares of the Corporation to certain executives and Board members.

 

Stock Option Grants Ratification

Votes in Favor

% In Favor

Votes Against

% Against

16,816,511

86.57%

2,609,084

13.43%

 

Approval of Equity Incentive Plan Renewal. According to proxies received and a vote by show of hands, the unallocated entitlements under the Corporation's equity incentive plan were approved.

 

Equity Incentive Plan Renewal

Votes in Favor

% In Favor

Votes Against

% Against

24,195,403

90.74%

2,468,177

9.26%

 

Approval of Amended Equity Incentive Plan. According to proxies received and a vote by show of hands, a majority of disinterested shareholders3 approved the Corporation's amended equity incentive plan.

 

Equity Incentive Plan Amendments

Votes in Favor

% In Favor

Votes Against

% Against

16,806,368

86.52%

2,619,227

13.48%

 

Approval of Name Change. According to proxies received and a vote by show of hands, the change of name of the Corporation from "Neptune Technologies & Bioressources Inc." to "Neptune Wellness Solutions Inc." / "Neptune Solutions Bien-être Inc." was approved by at least two thirds of the votes cast by shareholders at the meeting.

 

Name Change Approval

Votes in Favor

% In Favor

Votes Against

% Against

50,390,243

94.91%

2,702,731

5.09%

 

For further information on the voting results of the resolution passed during the AGM, please refer to the Report of Voting Results available on SEDAR.

About Neptune Technologies & Bioressources Inc.

Neptune is a health and wellness products company, with more than 50 years of combined experience in extraction, purification and formulation of value-added differentiated science-based products. Currently, the Company develops turnkey nutrition product solutions available in various unique delivery forms, offers specialty ingredients such as MaxSimil®, a patented ingredient that enhances the absorption of lipid-based nutraceuticals, and a variety of other marine and seed oils. Leveraging its scientific, technological and innovative expertise, Neptune is preparing to commence production of products in legal cannabis markets.

The Company's head office is located in Laval, Quebec.

 

___________________________

1

Excluding the votes of insiders to whom stock options may be granted under the stock option plan and their associates, representing a total of 7,237,985 votes.

2

Excluding the votes of the recipients of the granted options, and insiders to whom stock options may be granted under the stock option plan and their associates, representing a total of 7,237,985 votes.

3

Excluding the votes of insiders to whom entitlements may be granted under the equity incentive plan and their associates, representing a total of 7,237,985 votes.

 

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SOURCE Neptune Technologies & Bioresources inc.

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