Interfor Corporation (IFP) Earnings Call Transcript & Summary

[Audio Gap] Lawrence Sauder, Curt Stevens and Doug Whitehead. Each of these nominees has consented to act as a director of the company. Shareholders who intend to nominate candidates for director at this meeting are required under the articles of the company to provide advanced notice of their intention, but no such notice has been received. Therefore, I declare the nominations closed. I move to elect each of the individuals nominated in the information circular as a director of the company to hold office until the next Annual General Meeting of Shareholders.

I second the motion.

Is there any discussion on the motion? If there's no discussion, I shall ask that those persons in favor signify by stating yes and indicating your name.

Yes. Xenia Kritsos.

I declare the motion carried. The next item of business is to reappoint KPMG LLP as the company's auditors until the next Annual General Meeting of Shareholders and to authorize the Board to set the auditor's remuneration. I move to appoint KPMG LLP as the auditor of the company to hold office until the conclusion of the next Annual General Meeting at a remuneration to be set by the Board of Directors of the company.

I second the motion.

Is there any discussion on the motion? If there's no discussion, I shall ask that those persons in favor signify by stating yes and indicating your name.

Yes. Xenia Kritsos.

I declare the motion carried. Shareholders have the opportunity to cast the say-on-pay advisory vote, which gives shareholders the opportunity to indicate their acceptance of the Board's overall approach to executive compensation set out in the information circular. This vote is nonbinding, but the Board will consider the outcome of the vote as part of its ongoing review of executive compensation programs at Interfor. I move to resolve that on an advisory basis only and not to diminish the role and responsibilities of the Board of Directors, the shareholders accept the approach to executive compensation disclosed in the management information circular of the company dated March 9, 2021, delivered in connection with this meeting.

I second the motion.

Is there any discussion on the motion? If there's no discussion, I shall ask those persons in favor, signifying by stating yes and indicating their name.

Yes. Xenia Kritsos.

Those oppose, please signify by stating no and indicating your name. I declare the motion carried. This completes the formal business of the meeting. Since there are no other matters to come before the meeting, I move to terminate the meeting.

I second the motion.

All those persons in favor signify by stating yes and indicating their name.

Yes. Xenia Kritsos.

Those opposed, please signify by stating no and indicating your name. The motion has been carried. I declare this meeting terminated. Ladies and gentlemen, I would like to thank you for taking time to attend this meeting.

Thank you.

Thank you, operator. That is the end of the call.

You may now disconnect. Thank you. Bye-bye.