CALGARY, Alberta, May 05, 2020 (GLOBE NEWSWIRE) -- (TSX - NVA) NuVista Energy Ltd. ("NuVista") announces that the following matters were approved at the annual and special meeting of the shareholders of NuVista held on May 5, 2020 in Calgary, Alberta. Each of the matters is described in greater detail in the Notice of Annual and Special Meeting of Shareholders and Information Circular dated March 20, 2020 (the "Circular").

1.         Fixing the Number of Directors

By resolution passed via ballot, the number of directors to be elected at the meeting was fixed at nine members. The results of the ballot were as follows:

 Votes For Percent Votes Against   Percent
 148,241,799 99.56% 662,601 0.44%

2.         Election of Directors

By resolution passed via ballot, the following nine nominees were appointed as directors of NuVista to serve until the next annual meeting of shareholders of NuVista, or until their successors are elected or appointed. The results of the ballot were as follows:

Name of Nominee Votes For Percent Votes Withheld   Percent
          
Keith A. MacPhail 140,742,310 94.52%  8,162,090  5.48%
Ronald J. Eckhardt 146,534,311 98.41%  2,370,089  1.59%
Pentti O. Karkkainen 146,024,810 98.07%  2,879,590  1.93%
Ronald J. Poelzer 145,965,376 98.03%  2,939,024  1.97%
Brian G. Shaw 148,370,819 99.64%  533,581  0.36%
Sheldon B. Steeves 148,347,529 99.63%  556,871  0.37%
Deborah S. Stein 147,936,214 99.35%  968,186  0.65%
Jonathan A. Wright 148,104,047 99.46%  800,353  0.54%
Grant A. Zawalsky 147,856,897 99.30%  1,047,503  0.70%

3.         Appointment of Auditors

By resolution passed via ballot, KPMG LLP, Chartered Professional Accountants, were appointed as auditors of NuVista to hold office until close of the next annual meeting or until their successors are duly appointed, and the directors were authorized to fix their remuneration. The results of the ballot were as follows:

 Votes For Percent Votes Withheld   Percent
 148,850,890 99.66% 503,557 0.34%

4.         Non-Binding Advisory Resolution on Executive Compensation

By advisory resolution passed via ballot, NuVista's approach to executive compensation was approved. The results of the ballot were as follows:

 Votes For Percent Votes Against   Percent
 147,288,152 98.91% 1,616,248 1.09%

5.         Amendment to Stock Option Plan

By ordinary resolution, an amendment to NuVista's stock option plan was approved. The results of the ballot were as follows:

 Votes For Percent Votes Against   Percent
 123,357,708 82.84% 25,546,692 17.16%

6.         Amendment to Share Award Incentive Plan

By ordinary resolution, an amendment to NuVista's share award plan was approved. The results of the ballot were as follows:

 Votes For Percent Votes Against   Percent
 124,307,052 83.48% 24,597,348 16.52%

INVESTOR INFORMATION

NuVista is an independent Canadian oil and natural gas exploration, development and production corporation with its Common Shares trading on the Toronto Stock Exchange under the symbol “NVA”.

NuVista is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Our primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti and Pipestone area of the Alberta Deep Basin.

FOR FURTHER INFORMATION CONTACT:

Jonathan A. Wright Ross L. Andreachuk Mike J. Lawford
President and CEO VP, Finance and CFO Chief Operating Officer
(403) 538-8501 (403) 538-8539 (403) 538-1936

 

Primary Logo