In This Article:
VANCOUVER, British Columbia, May 07, 2025 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announces the following voting results in respect of its Annual General and Special Meeting of Shareholders (the “Meeting”) held today.
Election of Directors
Western’s shareholders voted today to re-elect the following directors to Western’s Board of Directors:
| Name of Nominee | Votes For | % For | Votes Against | % Against |
| Laura A. Cillis | 171,838,840 | 82.50% | 36,442,275 | 17.50% |
| Steven Hofer | 171,680,362 | 82.43% | 36,600,753 | 17.57% |
| Randy Krotowski | 164,311,319 | 78.89% | 43,969,796 | 21.11% |
| Fiona Macfarlane | 168,413,599 | 80.86% | 39,867,516 | 19.14% |
| Noordin Nanji | 137,069,394 | 65.81% | 71,211,721 | 34.19% |
| Daniel Nocente | 166,793,508 | 80.08% | 41,487,607 | 19.92% |
| Peter Wijnbergen | 172,576,370 | 82.86% | 35,704,745 | 17.14% |
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As part of best governance practices, the Company’s Board of Directors has constituted its Board Committees as summarized below. All members of the Board Committees are 100% independent.
| Audit Committee | Environmental, Health and Safety Committee | Management Resource and Compensation Committee | Nominating and Corporate Governance Committee |
| Laura A. Cillis | Randy Krotowski | Fiona Macfarlane | Noordin Nanji |
| Randy Krotowski | Fiona Macfarlane | Peter Wijnbergen | Laura A. Cillis |
| Peter Wijnbergen | Noordin Nanji | Randy Krotowski | Fiona Macfarlane |
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Share Consolidation
Western’s shareholders also voted today to approve a special resolution authorizing an amendment to the Company’s articles of amalgamation to effect a share consolidation of the issued and outstanding common shares in the capital of the Company (the “Share Consolidation”) at a share consolidation ratio to be determined by the Board of Directors, in its sole discretion, within the range of one post-consolidation share for every 25 to 40 pre-consolidation shares. The results of the in person and proxy voting on this matter were as follows:
| Votes For: | 202,490,230 | 94.97% |
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| Votes Withheld: | 10,728,473 | 5.03% |
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The Board of Directors will monitor prevailing market conditions and will have discretion, for a period of one year, to determine the exact consolidation ratio (in the aforementioned range) and timing to implement the Share Consolidation (if at all). The exact timing of the Share Consolidation, and additional details and instructions for shareholders regarding the Share Consolidation, will be communicated by the Company in a news release and other documentation to be issued at a later date.
The Share Consolidation remains subject to the Company receiving final approval from the Toronto Stock Exchange and all other regulatory requirements.