CHESSWOOD ANNOUNCES VOTING RESULTS FROM ANNUAL SHAREHOLDERS MEETING

TORONTO, May 20, 2022 /CNW/ - Chesswood Group Limited ("Chesswood" or the "Company") (TSX: CHW), a publicly traded North American specialty finance company providing commercial equipment leases and loans, automotive loans, and home improvement financing, today announced the voting results for its 2022 Annual Shareholders Meeting (the "2022 Shareholders Meeting") held on May 19, 2022. A total of 9,759,572 shares (approximately 51.72% of the 18,868,250 voting shares eligible to be voted at the 2022 Shareholders Meeting) were represented in person or by proxy.

Each of the nominees listed in the Management Information Circular dated April 8, 2022 were elected as Directors of the Company at the 2022 Shareholders Meeting. 

Detailed Results of the votes cast in respect of the election of the Directors are set out below:

Shareholders also re-appointed Ernst & Young LLP as auditors for the ensuing year, with 99.99% of the votes cast in favour, and approved the unallocated awards under the Company's Equity Incentive Plan, with 89.62% of the votes cast in favour.

Through three wholly-owned subsidiaries in the United States and five subsidiaries in Canada, two of which are wholly-owned, Chesswood Group Limited is a North American specialty finance company publicly traded on the Toronto Stock Exchange. Colorado-based Pawnee Leasing Corporation, founded in 1982, finances a highly diversified portfolio of commercial equipment leases and loans through relationships with over 600 brokers in the United States. Tandem Finance Inc. provides financing in the U.S. through the equipment vendor channel. In Canada, Blue Chip Leasing Corporation has been originating and servicing commercial equipment leases and loans since 1996. Vault Credit Corporation specializes in equipment leases and commercial loans across Canada, allowing for customizable financing solutions while catering to a wide spectrum of credit tiers, equipment types and sectors by offering industry-leading service levels, experienced underwriters and account administrators. Blue Chip and Vault Credit operate through a nationwide network of more than 60 brokers. Vault Home was launched in September 2021 and focuses on providing home improvement and other consumer financing solutions in Canada. Rifco National Auto Finance Corporation, with the mission to help Canadians own automobiles, seeks to create sustainable long-term competitive advantages through personalized partnerships with dealers, innovative products, the use of industry-leading data and analytics, and leading collection practices. Chesswood Capital Management and Chesswood Capital Management USA provide private credit alternatives to investors seeking exposure to lease and loan receivables, including those originated by Chesswood subsidiaries.

Based in Toronto, Canada, Chesswood Group Limited's shares trade on the TSX under the symbol CHW.

To learn more about Chesswood Group Limited, visit www.ChesswoodGroup.com.

The websites of Chesswood Group Limited's operating businesses are:

NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. 

SOURCE Chesswood Group Limited