MONTREAL, May 7, 2019 /CNW Telbec/ - Air Canada (TSX: AC) announced today that all of the nominees listed in the management proxy circular dated March 25, 2019 were elected as directors of Air Canada at the company's Annual and Special Meeting of Shareholders which was held on Monday, May 6, 2019 in Toronto.
All of the nominees have already been serving as directors of Air Canada and each of the directors was elected by a majority of the votes cast by shareholders present or represented by proxy at the meeting. The results of the vote are detailed below.
Christie J.B. Clark
Gary A. Doer
Michael M. Green
Jean Marc Huot
Michael M. Wilson
Shareholders also approved the special resolution adopting the previously announced plan of arrangement effecting amendments to Air Canada's articles of incorporation to increase the limits of foreign ownership and control of its voting shares to those permitted by amendments made to the Canada Transportation Act in 2018. The implementation of these amendments, which are described in Air Canada's February 15, 2019 news release, remains subject to final approval of the Quebec Superior Court at a hearing scheduled for May 8, 2019.
Final voting results on all matters voted on at the meeting will be filed on SEDAR.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on assumptions, are subject to important risks and uncertainties, and cannot be relied upon due to, among other things, changing external events. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including the factors identified in Air Canada's public disclosure file available at www.sedar.com. In particular, failure to obtain the necessary court approval, or the failure to otherwise satisfy the conditions to the implementation of the proposed plan of arrangement and the resulting amendments to Air Canada's articles, may result in the proposed plan of arrangement and amendments not being completed on the proposed terms, or at all. The forward-looking statements contained or incorporated by reference in this news release represent Air Canada's expectations as of the date of this news release and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.
About Air Canada
Air Canada is Canada's largest domestic and international airline serving nearly 220 airports on six continents. Canada's flag carrier is among the 20 largest airlines in the world and in 2018 served nearly 51 million customers. Air Canada provides scheduled passenger service directly to 63 airports in Canada, 56 in the United States and 100 in Europe, the Middle East, Africa, Asia, Australia, the Caribbean, Mexico, Central America and South America. Air Canada is a founding member of Star Alliance, the world's most comprehensive air transportation network serving 1,317 airports in 193 countries. Air Canada is the only international network carrier in North America to receive a Four-Star ranking according to independent U.K. research firm Skytrax, which also named Air Canada the 2018 Best Airline in North America. For more information, please visit: aircanada.com/media, follow @AirCanada on Twitter and join Air Canada on Facebook.
SOURCE Air Canada