TORC Oil & Gas Ltd. Reports on Voting from the 2016 Shareholders Meeting

TORC Oil & Gas Ltd. Reports on Voting from the 2016 Shareholders Meeting

Canada NewsWire

CALGARY, May 11, 2016

CALGARY, May 11, 2016 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX:TOG) announces that the following matters were voted upon at the annual and special meeting of the shareholders of TORC held on May 11, 2016 in Calgary, Alberta. Each of the matters is described in greater detail in the Notice of Annual and Special Meeting of Shareholders and Information Circular – Proxy Statement dated April 1, 2016 (the "Circular").

1. Fixing the Number of Directors

By resolution passed via ballot, the number of directors of TORC to be elected at the meeting was fixed at seven. The results of the ballot were as follows:

Votes For


Votes Against

#


%

#


%

106,134,708

99.98

23,277

0.02

2. Election of Directors

By resolution passed via ballot, the following seven nominees were appointed as directors of the Company to serve until the next annual meeting of shareholders of the Company, or until their successors are elected or appointed. The results of the ballot were as follows:



Votes For


Votes Withheld

Nominee


#


%

#


%

David Johnson


103,341,158

97.41

2,743,817

2.59

John Brussa


87,652,829

82.63

18,432,146

17.37

Raymond Chan


105,667,996

99.61

416,979

0.39

M. Bruce Chernoff


84,124,636

79.30

21,960,339

20.70

Brett Herman


105,933,948

99.86

151,027

0.14

R. Scott Lawrence


100,405,586

94.65

5,679,389

5.35

Dale Shwed


102,779,234

96.88

3,305,741

3.12

3. Appointment of Auditors

By resolution passed via ballot, KPMG LLP, Chartered Accountants, were appointed as auditors of the Company to hold office until the next annual meeting or until their successors are duly appointed, and the directors were authorized to fix their remuneration. The results of the ballot were as follows:

Votes For


Votes Withheld

#


%

#


%

106,125,295

99.97

32,690

0.03

4. Non-Binding Advisory Resolution on TORC's approach to Executive Compensation

By resolution passed via ballot, the non-binding advisory resolution approving TORC's approach to executive compensation was approved. The results of the ballot were as follows:

Votes For


Votes Withheld

#


%

#


%

105,290,199

99.25

794,776

0.75

5. Amendments to TORC's Share Award Incentive Plan

By ordinary resolution passed via ballot, certain amendments to TORC's share award incentive plan and the common shares issuable pursuant to unallocated awards under the share award incentive plan were approved. The results of the ballot were as follows:

Votes For


Votes Withheld

#


%

#


%

98,363,848

92.72

7,721,127

7.28

TORC Oil & Gas Ltd. is a Calgary based company active in the acquisition, exploration, development and production of crude oil and natural gas in Western Canada.

SOURCE TORC Oil & Gas Ltd.

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