TORONTO, June 29, 2022 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a diversified acquirer and operator of niche e-commerce brands, announced that it held its annual general meeting of shareholders yesterday and that all matters put forward before shareholders for consideration and approval as set out in the Company's management information circular dated May 16, 2022, were approved by the requisite majority of votes cast at the meeting.
In particular, shareholders approved the election of all director nominees, the appointment of MNP LLP as the Company's auditors, authorized the Board of Directors (the "Board") to fix the auditor's remuneration for the ensuing year and approved the Company's new omnibus equity incentive plan (the "New Plan") in accordance with the TSX Venture Exchange's (the "Exchange") revised Policy 4.4 ? Security Based Compensation. The New Plan is a fixed plan whereby the aggregate maximum number of common shares that may be reserved for issuance under the New Plan, at any time, shall not exceed 16 million common shares. The New Plan replaces and supersedes the Company's former incentive stock option plan and fixed restricted share unit plan (the "Former Plans"). Under the New Plan, the Company may grant equity-based incentive awards in the form of stock options, restricted share units, deferred share units, performance share units and stock appreciation rights to eligible persons. All issued and outstanding stock options and restricted share units under the Former Plans will be governed by and assumed under the New Plan. The New Plan remains subject to final Exchange approval.
A total of 28.5 million votes were cast or represented by proxy at the meeting, representing 27.5% of the Company's outstanding common shares as of the record date.
The Board of the Company is now comprised as follows:
% shares voted for
% shares withheld
Following the meeting, the Company re-appointed Drew Green as Chairman of the Board and John Kim as Audit Committee Chair and appointed Ian McKinnon as Compensation, Governance and Nominating Committee Chair.
EMERGE is a diversified acquirer and operator of profitable niche e-commerce brands. Our subscription and marketplace e-commerce properties provide our members with access to pet products, premium meat, outdoor gear, golf, and other curated experiences. Our portfolio houses online destinations including WholesalePet.com, trulocal.ca, BattlBox.com, UnderPar.com, JustGolfStuff.ca, CarnivoreClub.co, WagJag.com, and BeRightBack.ca. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.
To learn more visit https://www.emerge-commerce.com/
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board
Director and CEO and President
SOURCE EMERGE Commerce Ltd.
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