Algoma Central Corporation Announces Results of Annual General and Special Meeting of Shareholders

ST. CATHARINES, Ontario--()--Algoma Central Corporation (“Algoma” or “the Company”) (TSX: ALC), a leading provider of marine transportation services, held its Annual General and Special Meeting of Shareholders (“the Meeting”) on May 4, 2018. Each of the matters set out below were voted upon at the Meeting and are described in greater detail in the Company’s Management Proxy Circular dated February 22, 2018, available online at www.algonet.com.

1. Election of Directors

All of the nominees listed in the Management Proxy Circular were elected as directors until the next annual general meeting of shareholders with the support of 86.55% of shares voted.

Nominee   Outcome   Votes For   Votes Withheld   Total
Richard B. Carty Elected 32,385,901 668,385 33,054,286
Paul Gurtler Elected 32,375,723 678,563 33,054,286
E.M. Blake Hutcheson Elected 32,376,923 677,363 33,054,286
Duncan N.R. Jackman Elected 32,863,817 190,469 33,054,286
Mark McQueen Elected 32,967,748 86,538 33,054,286
Clive P. Rowe Elected 32,949,560 104,726 33,054,286
Harold S. Stephen Elected 32,954,260 100,026 33,054,286
Eric Stevenson Elected 32,960,498 93,788 33,054,286
 

2. Appointment of Auditors

Professional accounting firm Deloitte LLP was appointed as independent auditors of the Company.

Outcome   For   Withheld   Total
Approved 33,308,120 55,664 33,363,784
 

3. Approval of the Company’s Stock Option Plan

The adoption of the Stock Option plan will be granted to certain officers and employees of the Company.

Outcome   For   Withheld   Total
Approved 32,155,875 898,411 33,054,286
 

About Algoma Central

Algoma Central Corporation is a publicly traded company which operates the largest fleet of dry and liquid bulk carriers on the Great Lakes - St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry bulk carriers and product tankers. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets. Algoma has expanded into international short-sea markets through it 50% interests in NovaAlgoma Cement Carriers and NovaAlgoma Short-Sea Carriers. Algoma Central trades on the Toronto Stock Exchange under the symbol “ALC”. For more information, please visit www.algonet.com.

Contacts

Algoma Central Corporation
Ken Bloch Soerensen
President and CEO
+1 905-687-7885
or
Peter D. Winkley, CPA, CA
Chief Financial Officer
+1 905-687-7897

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