Mullen Group Ltd. Announces Election of Directors
OKOTOKS, May 4, 2023 - (TSX: MTL) Mullen Group Ltd. ("Mullen Group", "We", "Our" and/or the "Corporation") announced today the results of the vote on election of directors at the annual general meeting of shareholders of the Corporation held on May 3, 2023.
The vote was conducted by ballot and the detailed results are as follows:
| Nominee | Votes For | % For | Votes Withheld | % Withheld |
| Christine McGinley | 65,075,441 | 92.42 % | 5,334,665 | 7.58 % |
| Stephen H. Lockwood | 59,353,531 | 84.30 % | 11,056,575 | 15.70 % |
| David E. Mullen | 67,839,010 | 96.35 % | 2,570,196 | 3.65 % |
| Murray K. Mullen | 64,631,833 | 91.79 % | 5,778,273 | 8.21 % |
| Sonia Tibbatts | 34,738,967 | 49.34 % | 35,671,139 | 50.66 % |
| Jamil Murji | 64,948,615 | 92.24 % | 5,461,491 | 7.76 % |
| Richard Whitley | 63,133,848 | 89.67 % | 7,276,258 | 10.33 % |
| Benoit Durand | 64,320,391 | 91.35 % | 6,089,715 | 8.65 % |
As a result, the eight nominees for election as directors set out above were elected as directors of the Corporation to serve until the close of the next annual meeting of shareholders of the Corporation, or until their successors are elected or appointed. However, in accordance with the Corporation's majority voting policy (the "Policy"), Sonia Tibbatts has tendered her resignation for consideration by the Compensation, Nomination and Governance Committee (the "CNG Committee") of the Board of Directors (the "Board") of the Corporation. The CNG Committee will consider her resignation and make a recommendation to the Board to accept or reject the resignation. The decision of the Board will be announced by news release in accordance with the Policy.
"As a Board we believe it was inappropriate for ISS to recommend a withhold vote against Sonia Tibbatts, the Chair of the CNG Committee, and an excellent Board member. I cannot reconcile how ISS expresses a viewpoint that our organization does not meet a predetermined gender diversity quota and then recommends a withhold vote against one of our Board members who is a woman. We will follow the majority voting policy, including considering whether accepting Sonia's resignation is in the best interests of Mullen Group stakeholders. Clearly, asking Sonia to resign from the Board will not help Mullen Group reach our gender diversity goals," stated Mr. Murray K. Mullen, Chair and Senior Executive Officer.
Mullen Group is one of Canada's largest logistics providers. Our network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation. In addition, we provide a diverse set of specialized services related to the energy, mining, forestry and construction industries in western Canada, including water management, fluid hauling and environmental reclamation. The corporate office provides the capital and financial expertise, legal support, technology and systems support, shared services and strategic planning to its independent businesses.
Mullen Group is a publicly traded corporation listed on the Toronto Stock Exchange under the symbol "MTL". Additional information is available on our website at www.mullen-group.com or on the Corporation's issuer profile on SEDAR at www.sedar.com.
Contact Information
Mr. Murray K. Mullen - Chair, Senior Executive Officer and President
Mr. Richard J. Maloney - Senior Operating Officer
Mr. Carson P. Urlacher - Senior Accounting Officer
Ms. Joanna K. Scott - Senior Corporate Officer
121A - 31 Southridge Drive
Okotoks, Alberta, Canada T1S 2N3
Telephone: 403-995-5200
Fax: 403-995-5296
Certain statements included in this news release constitute "forward-looking information" under Canadian securities laws, specifically, the statement regarding the announcement of the decision of the Board of Directors to accept or reject the resignation of Sonia Tibbatts in accordance with the Policy. By its nature, forward-looking information involves risks, uncertainties, and assumptions and in this case, the Corporation has assumed that the CNG Committee and the Board of Directors will have access to sufficient information to make a recommendation and a decision, as the case may be, in accordance with the Policy. The Corporation cautions that its assumptions may not materialize although it believes they were reasonable at the time they were made. In the event that the assumptions do not materialize, actual results may differ materially from any conclusion or expectation that may be drawn from the forward-looking information. The risk factors that the Corporation believes could cause actual results to vary from the forward-looking information include that the information necessary for the CNG Committee to make a recommendation and for the Board of Directors to make a determination is not forthcoming in the timeline contemplated by the Policy.
Mullen Group assumes no obligation to update or revise forward-looking information to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event Mullen Group does update any forward-looking information, no inference should be made that Mullen Group will make additional updates with respect to any statement, related matters, or other forward-looking statement that included the forward-looking information.
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SOURCE Mullen Group Ltd.
