Innospec Inc. (IOSP) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Shareholders of Innospec, Inc. [Operator Instructions] It is now my pleasure to turn today's meeting over to the Chairman of the Board, Mr. Bud Blackmore. And Mr. Blackmore, the floor is yours.

Thank you very much. Good morning. Welcome to Innospec's 2021 Annual Meeting of Stockholders. I am Bud Blackmore, Chairman of Innospec's Board of Directors, and I will preside as Chair of this meeting. David Jones, Innospec's General Counsel and Corporate Secretary, will serve as Secretary of the meeting. We are pleased again to be able to hold this annual meeting of stockholders virtually. A real-time audio feed of this meeting is being webcast. This webcast incorporates stockholder validation capabilities, which means that any stockholder can vote during this meeting and submit questions. If you would like to vote your shares or to ask questions, you must have entered this meeting using your 16 digit control number. Since Innospec already released first quarter 2021 earnings and provided a detailed update on the businesses, there is not a business presentation at today's meeting. Please visit Innospec's website for information related to operations and past results. Each of the director nominees are in attendance on this webcast. Their biographies are included in the proxy statement. All nominees currently serve on the Board. The Director nominees are myself; Robert Paller and Elizabeth Arnold. Also present are Graham Parsons and Simon White of PricewaterhouseCoopers, the company's independent public accounting firm. We will now attend to the formal business of this meeting. I will ask Mr. Jones to review mailing of this notice of the meeting and cover other administrative matters. David?

I received the affidavit of mailing from Computershare certified in on March 23, 2021, the distribution commenced for the notice of Internet availability of proxy materials to all shareholders of record as a proposed of business on March 11, 2021, the record date for this meeting. This notice provided instructions on how to access the company's proxy statement and the most recent annual report on Form 10-K. Donna Bent with Computershare has provided me her oath of office as the inspector of elections. 96% of the shares of common stock entitled to attend and vote are represented in person or by proxy at this meeting. Therefore a quorum is present for the purpose of conducting business. Lastly, the list of stockholders of record, as of the record date for this meeting, has been open for examination of the company for any purpose relevant to this meeting during ordinary business hours for the past 10 days and is available for inspection by stockholders during this meeting by clicking on the shareholder list tab on the webcast site.

Thank you, David. We will now consider the 4 proposals appearing in the proxy statement. Number one, to elect 2 directors to serve until the 2024 annual meeting; number two, to ratify the election of Ms. Elizabeth Arnold; number three, to ratify the appointment of PricewaterhouseCoopers as the company's independent public accounting firm for 2021; and number four, advisory vote on executive compensation. Inspector to provide voting results to David at this time.

Got it.

Okay. Mr. Jones has received the inspector report, and will announce the voting results.

The inspector of election's preliminary report is that the affirmative vote of the majority of the company's common stock, voting with respect to the 4 proposals either present at this meeting or by proxy was received. With respect to proposals 1 and 2, the 3 directors are reelected or ratified as applicable and proposals 3 and 4 were approved. We will report the final voting results on Form 8-K to be filed within 4 business days of this meeting.

Thank you, David. We have now completed the business schedule for this annual meeting. Corbin, I'll ask, are there any questions that we need to have Mr. Williams to address.

There are no questions?

With there being no questions, ladies and gentlemen, on behalf of the members of the Board of Directors, thank you for your support and attending this annual meeting. This meeting is now adjourned. Thank you.

This concludes the meeting. You may now disconnect.