Concrete Pumping Holdings, Inc. (BBCP) Earnings Call Transcript & Summary

Good morning, and welcome to the Concrete Pumping Holdings' 2020 Annual Meeting of Stockholders. The meeting will now come to order. I am David A. B. Brown, Chairman of the Board, and I thank you for all coming here today. I will act as Chairman of the meeting; and Kevin McCarty, SEC Director, will serve as Secretary. Upon joining this virtual meeting, each of you was presented with an order of business and a list of rules of conduct for the meeting. To conduct an orderly meeting, we ask that participants abide by these rules. As stated in the rules of conduct, if a stockholder desires to ask a question, please submit your question using the Submit text box. Questions will be responded to after the meeting concludes. Thank you for cooperation with these rules. I ask Mr. McCarty to give a secretary's report on the qualification of this meeting to proceed.

Thank you, Mr. Chairman. This meeting is held pursuant to a written notice mailed to all stockholders of record as of the close of business on Friday, on February 28, 2020. The notice was accompanied by the proxy statement, the form of proxy and the annual report for fiscal year 2019. These documents will be filed with the records of this meeting. In addition, the proxies and the certified list of stockholders are in the custody of the inspector of election.

Mr. McCarty has been appointed inspector of election and has taken the oath of office, which has been filed with the company records. Mr. McCarty, do we have a quorum?

Yes. The inspector of election has reported that approximately 65% of the company's issued and outstanding capital stock entitled to vote are represented at this meeting, either in person or by proxy. This constitutes a quorum of the stockholders, and all legal requirements for holding this meeting have been satisfied.

The meeting is lawfully convened, and ready to transact business. You have received a copy of the order of business, which includes the matters to be submitted to a vote of the stockholders. At this time, the polls are now open, and we ask any stockholder who has not yet turned in a proxy and wishes to do so at this time to go to the voting link on the virtual page, enter your control number and vote. Stockholders who have sent in proxies do not need to take any further action. We will now proceed with the matters to be voted on. The first item of business is the proposal to elect Brian Hodges, John Piecuch, Howard Morgan and Raymond Cheesman as Class II directors of our Board of Directors, each to serve as a 3-year term. The second item of business is the proposal to ratify the appointment of BDO USA, LLP, as our independent registered public accounting firm for the fiscal year ending October 31, 2020. I will pause now to confirm that we have received all votes. [Voting]

I hereby declare the polls closed. The inspector of the elections will now tabulate the votes and report the preliminary results before the close of the meeting. I have been advised by the inspector of elections that the preliminary tallies are now available, and I'll ask the secretary to read them.

The inspector of election advises that each of the proposals presented to the stockholders of the company has passed. Mr. Chairman, the final results of the stockholder vote reflecting all proxies received by mail through the close of this meeting and any votes cast in person during this meeting with respect to the proposals will be included in the final report of the inspector of election and will be published in a Form 8-K within 4 business days after the final results are known and will be available upon request.

Thank you, Mr. McCarty. This meeting is now concluded, and I want to thank you all for attending today's meeting and for the support you've shown for Concrete Pumping Holdings. Thank you very much. Good morning. Be safe.