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Aecon Announces Voting Results of Annual General Meeting, Declares Quarterly Dividend

Jun 2, 2020

Toronto, Ontario – June 2, 2020: Aecon Group Inc. (TSX: ARE) (“Aecon” or the “Corporation”) announced today that the nominees listed in the Management Information Circular dated May 4, 2020 were elected as directors of Aecon, to hold office until the close of the next Annual General Meeting of the Corporation or until their successors are appointed.

Shareholders also adopted all other resolutions submitted for their approval, including the advisory vote on the Corporation’s approach to executive compensation, as disclosed in the  Management Information Circular dated May 4, 2020, and the appointment of PricewaterhouseCoopers LLP as the auditors of the Corporation to hold office until the close of the next Annual General Meeting of the Corporation.

The complete voting results for each item of business are as follows:

Election of Directors

Name of Nominee  Votes in Favour  % Votes in Favour  Votes Withheld
 % Votes Withheld
John M. Beck 34,013,352  93.46% 2,380,679   6.54%
John W. Brace 36,302,436  99.75% 91,595   0.25%
Joseph A. Carrabba 19,584,872  53.81% 16,809,159   46.19%
Anthony P. Franceschini 36,332,519  99.83%  61,512   0.17%
J.D. Hole 36,314,048  99.78%  79,983   0.22%
Susan Wolburgh Jenah 36,113,883  99.23%  280,148   0.77%
Eric Rosenfeld 34,290,923  94.22%  2,103,108   5.78%
Jean-Louis Servranckx 36,325,627   99.81%  68,404   0.19%
Monica Sloan 36,261,179   99.63%  132,852   0.37%
Deborah S. Stein 35,895,462   98.63%  498,569   1.37%



Appointment and Remuneration of Auditors

Votes in Favour % Votes in Favour   Votes Withheld  % Votes Withheld
 36,367,730  99.59%  150,000  0.41%
 


Corporation’s Approach to Executive Compensation

Votes in Favour   % Votes in Favour  Votes Against % Votes Against 
 35,862,577  98.54%  531,054  1.46%



DIVIDEND

Aecon's quarterly dividend of 16 cents per share will be paid on July 3, 2020 to shareholders of record on June 23, 2020.

 

About Aecon

As a Canadian leader in construction and infrastructure development with global expertise, Aecon Group Inc. (TSX: ARE) strives to be the number one Canadian infrastructure company. Aecon safely, profitably and sustainably delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment and management services through its Concessions segment. Join our online community on Twitter, LinkedIn, Facebook and Instagram @AeconGroup. 


Statement on Forward-Looking Information

The information in this press release includes certain forward-looking statements. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties.  Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Aecon.  Forward-looking statements may in some cases be identified by words such as "will," "plans," "believes," "expects," "anticipates," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions. In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to: the timing of projects, unanticipated costs and expenses, the failure to recognize and adequately respond to climate change concerns or public and governmental expectations on climate matters, general market and industry conditions and operational and reputational risks, including large project risk and contractual factors and risks relating to the COVID-19 pandemic.  Readers are referred to the specific risk factors relating to and affecting Aecon's business and operations as filed by Aecon pursuant to applicable securities laws.  Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.


For further information:  

Adam Borgatti
SVP, Corporate Development and Investor Relations
(416) 297-2610
aborgatti@aecon.com

Nicole Court
Senior Director, Corporate Affairs
(647) 484-1477
ncourt@aecon.com