TORONTO–(BUSINESS WIRE)–Axis Auto Finance Inc. (Axis or the Company) (TSX: AXIS), is pleased to announce the voting results from its Annual General and Special Meeting of shareholders (“Shareholders) held earlier today (the Meeting).
All the matters put forward before Shareholders for consideration and approval as set out in the Company’s management information circular dated October 30, 2024 (the “Circular”) were approved by the requisite majority of votes cast at the Meeting. In particular, Shareholders approved the election of all director nominees, re-approval of Ernest & Young LLP as the Company’s auditors, the approval of the previously disclosed transaction with Fionic and the authorization of the board to ultimately proceed with the dissolution of the Company. The board of directors of the Company is comprised as follows:
Nominee | Votes “For” | % Votes “For” | Votes “Against” | % of Votes “Against” |
Todd Hudson (NYSE:) | 51,457,026 | 98.883% | 581,076 | 1.117% |
Ilja Troitschanski | 51,457,026 | 99.883% | 581,076 | 1.117% |
Wes Neichenbauer | 51,953,102 | 98.837% | 85,000 | 0.163% |
Bruce Smith | 51,946,402 | 99.824% | 91,700 | 0.176% |
Lesley Gallinger | 51,946,402 | 99.824% | 91,700 | 0.176% |
Ian Anderson | 51,953,102 | 99.837% | 85,000 | 0.163% |
Paul Kerwin | 51,953,102 | 99.837% | 85,000 | 0.163% |
Arlene O’Neill | 51,953,102 | 99.837% | 85,000 | 0.163% |
52,216,673 common shares were represented by Shareholders in person or by proxy at the Meeting, representing approximately 43% of the total issued and outstanding shares at the record date for the Meeting. Full details of the voting results will be posted under the Company’s profile on www.sedarplus.ca.
About Axis Auto Finance
Axis is a fintech lender providing alternative used vehicle financing options to non-prime borrowers. Axis loans are offered through automotive dealers to approximately 30% of Canadians (Source: Equifax (NYSE:)) that have credit scores in the non-prime range. All Axis auto loans report to the credit bureau, resulting in over 70% of customers seeing a significant improvement of their credit scores. Further information on the Company can be found at https://www.axisfinancegroup.com/investors-press-releases/.
The TSX Exchange has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This news release contains forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws, regarding the Company’s business and operations. In this news release, forward-looking statements relate to, among other things, information regarding the repayment of the Facility.
Forward-looking statements are necessarily based on a number of assumptions that the Company considered appropriate and reasonable as of the date such information is given, including but not limited to the assumptions that the transaction will proceed according to the Company’s anticipated timelines. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control, that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the risk that the Company’s assumptions on which its forward-looking statements are based may not be accurate; the inability to receive, in a timely manner and on satisfactory terms, the necessary approvals for the transaction and other matters to be considered at the meeting of shareholders of the Company; the inability to satisfy, in a timely manner, all other conditions to the completion of the transaction; and the risk factors disclosed in the Company’s periodic reports publicly filed and available on its SEDAR+ profile at www.sedarplus.ca. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. There is no assurance that the proposed transaction will be completed in accordance with its terms or at all.
The forward-looking statements contained in this news release are made as of the date of this announcement and the Company does not undertake any obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241129076809/en/
Axis Auto Finance Inc.
Todd Hudson
CEO
(416) 633-5626
ir@axisautofinance.com
Source: Axis Auto Finance Inc.
