ONEnergy Holds Annual & Special Meetingo of Shareholders - KMPH FOX 26 | Central San Joaquin Valley News Source

ONEnergy Holds Annual & Special Meetingo of Shareholders

Posted: Updated:

 

TORONTO, CANADA / ACCESSWIRE / May 1, 2014 / ONEnergy Inc. (“ONEnergy” or the “Corporation”) (TSXV: OEG and OEG.A), a growing provider of innovative energy and energy conservation products and services to residential, industrial and commercial customers in North America, held its Annual and Special Meeting of Shareholders (the “Meeting”) on April 29, 2014 in Toronto, Ontario. At the Meeting shareholders approved the election of David A. Rattee, Lawrence Silber, Stephen J.J. Letwin, Stanley H. Hartt, and Mark J. Lewis to serve as directors of the Corporation, and approved the appointment of BDO Canada LLP as auditors of the Corporation. Further, a resolution to approve the adoption of a Deferred Share Unit Plan for non-executive directors of the Corporation was passed. The Corporation has subsequently received the acceptance for filing of this plan by the TSX-V.

ONEnergy had, in its information circular dated March 13, 2014, also proposed resolutions to authorize the following:

-a capital reorganization into a single class of shares from the current dual-class structure (the “Capital Reorganization Resolution”);

-a share consolidation of the outstanding shares (the “Consolidation Resolution”); and

-continuance to Ontario jurisdiction under the Ontario Business Corporations Act (the “Continuance Resolution”).

The board and management of the Corporation has consistently held that the above resolutions are in the best interests of ONEnergy and its shareholders, and continues to maintain this view. It appears that shareholders overwhelmingly agreed, as proxies received prior to the Meeting were voted 99.74% (multiple voting shares) and 99.76% (subordinate voting shares) in favor of the Capital Reorganization Resolution, and 99.73% and 93.06% in favor of the Continuance Resolution and the Consolidation Resolution, respectively. However, the Corporation was forced to withdraw those resolutions from consideration at the Meeting as a consequence of having received notices of dissent in respect of the resolutions from two shareholders. Had the above resolutions not been withdrawn and been passed by shareholders, and the Corporation proceeded with implementation of either of the Continuance Resolution or the Capital Reorganization Resolution it may have resulted in the Corporation being required to pay an unacceptable amount of cash to those two shareholders.

About ONEnergy Inc.

ONEnergy, through Sunwave (www.gosunwave.com), is a provider of innovative energy products to residential, industrial and commercial customers. ONEnergy provides homeowners and business with competitively priced conventional and environmentally-friendly green natural gas and electricity in Ontario and conventional and green electricity in Connecticut and Pennsylvania. Through its Home Comfort division, the Corporation provides residential heating, ventilation, & air conditioning rentals, sales and installation, and provides heating and air conditioning equipment, tankless and conventional hot water systems and other in-home and commercial appliances, products and services in Ontario, Alberta and Manitoba.

ONEnergy shares are listed on the TSX Venture Exchange under the symbols “OEG” for Multiple Voting Shares and “OEG.A” for Subordinate Voting Shares. ONEnergy’s website may be found at www.onenergyinc.com.

Mark Lewis

Chief Executive Officer

ONEnergy Inc.

+1 (416) 444-4848

Ray de Ocampo

Chief Financial Officer

ONEnergy Inc.

+1 (416) 444-4848

Ali Mahdavi

Capital Markets & Investor Relations

Spinnaker Capital Markets Inc.

+1 (416) 962-3300

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: ONEnergy Inc.  

ReleaseID: 415080

  • Local NewsLocal NewsMore>>

  • Wildfire Near Mammoth Pool Forces Campers Out

    Wildfire Near Mammoth Pool Forces Campers Out

    Campers are being evacuated right now at Fish Creek and Rock Creek, near Mammoth Pool. AA wildfire is burning in that area. It started Monday morning. The US Forest Service is reporting that 60 acres have burned so far.More >>
    Campers are being evacuated right now at Fish Creek and Rock Creek, near Mammoth Pool. AA wildfire is burning in that area. It started Monday morning. The US Forest Service is reporting that 60 acres have burned so far. More >>
  • Wildfire Near Yosemite Grows to 2,600 Acres, No Containment

    Wildfire Near Yosemite Grows to 2,600 Acres, No Containment

    Firefighters will be working through the night, and into the morning, to gain control of a wildfire that is burning near Yosemite National Park for a second night.The El Portal Fire now covers 2,632 acres.Close to 600 firefighters are on site—and more are expected to arrive overnight.A stretch of Highway 120 remains closed from Crane Flat to the 120/140 Junction.Smoke from the fire, is now creeping into Yosemite Valley."You can barely make out El Capitan," said Ryan Green, who stopped at the ...More >>
    Firefighters will be working through the night, and into the morning, to gain control of a wildfire that is burning near Yosemite National Park for a second night.The El Portal Fire now covers 2,632 acres.Close to 600 firefighters are on site—and more are expected to arrive overnight.A stretch of Highway 120 remains closed from Crane Flat to the 120/140 Junction.Smoke from the fire, is now creeping into Yosemite Valley."You can barely make out El Capitan," said Ryan Green, who stopped at the ...More >>
  • Wildfire Near Yosemite Balloons to 2,100 Acres, Forces Road Closures

    Wildfire Near Yosemite Balloons to 2,100 Acres, Forces Road Closures

    A fire is burning near Yosemite National Park right now, threatening homes and forcing road closures.The fire started Saturday around 4:30 p.m. and now covers 500 acres.It is burning in the Merced Canyon, and has been named the “El Portal Fire.”The U.S. Forest Service reports that six homes have been evacuated, but more evacuations have been ordered to the town of Foresta, east of El Portal.The fire is moving in a North and East direction.So far, it has ordered the closure of Highway 120, bet...More >>
    A fire is burning near Yosemite National Park right now, threatening homes and forcing road closures.The fire started Saturday around 4:30 p.m. and now covers 500 acres.It is burning in the Merced Canyon, and has been named the “El Portal Fire.”The U.S. Forest Service reports that six homes have been evacuated, but more evacuations have been ordered to the town of Foresta, east of El Portal.The fire is moving in a North and East direction.So far, it has ordered the closure of Highway 120, bet...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KMPH. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.