SECURE Waste Infrastructure Corp. (SES) Earnings Call Transcript & Summary

Welcome to Secure Energy's Annual Meeting of Shareholders. I'll now turn it over to Secure's Chairman of the Board, Mick Dilger. Please go ahead.

Thank you. Good morning, and welcome to the Annual Meeting of Secure Energy. My name is Mick Dilger, and I will act as Chair for today's meeting. I'd like to welcome all shareholders and guests joining us via live conference call today and we thank our shareholders for submitting their votes via proxy in advance of the meeting. This format still allows shareholders and guests to submit questions, which we will address at the end of the formal portion of the meeting. Yesterday, we issued our first quarter results and held our conference call with senior management to discuss those results. The first quarter of 2024 represented another strong quarter and solid execution across all business units and optimization of our capital structure through debt repayment and refinancing, positioning us with substantial liquidity for strategic initiatives. Please see our website at secureenergy.com for more details, our latest investor presentation and for Investor Relations contact details should you wish to speak to someone in person. Before we begin our formal business of the meeting, I'd like to take a moment to recognize and thank Brad Munro for his long-time service on Secure Energy's Board of Directors. Brad has provided exceptional leadership, guidance and thoughtful advice for over 15 years as a Board member. He was instrumental in guiding the organization during the merger negotiations and successful integration. On behalf of the entire Board, we thank Brad for his valuable contributions and wish him all the best in his retirement. I'd also like to recognize Rene Amirault. He will retire as CEO on May 1, 2024, only a week away. We are pleased that Rene will remain on the Board of Directors as Vice Chair. As one of the founders of the corporation, we welcome Rene's leadership, which will continue to help guide the organization and Secure's strategic direction. After 17 years of great successes, we wish Rene all the best in his well-deserved retirement from management. I'd also like to welcome Allen Gransch as Corporation's new incoming CEO. Allen's proven leadership skills, extensive experience and diverse skill set will allow for a seamless succession and guide Secure as it moves forward. In order to efficiently cover the required business of this meeting, we have prearranged with certain shareholders to move and second some of the motions of business. The meeting will now come to order. And with the consent of the meeting, I will ask Mike Callihoo to act as Secretary and Nazim Nathoo of Odyssey Trust Company to act as scrutineer. The scrutineer has advised me that the required quorum is present, and accordingly, I now declare that the meeting has been regularly called and is properly constituted for the transaction of business. Our first item of business relates to the audited financial statements for the year ended December 31, 2023. These statements have been previously provided to shareholders, and I will dispense with the reading of the statements and the audit report. I would be pleased to receive any questions relating to the financial statements at the conclusion of the meeting. We will now proceed with the election of directors. The directors have determined that the Board shall consist of 8 members to be voted on individually. I now declare the meeting open for nominations.

Mr. Chairman, I nominate Rene Amirault, Mark Bly, Mick Dilger, Allen Gransch, Wendy Hanrahan, Joseph Lenz, Susan Riddell Rose and Deanna Zumwalt for election as Directors of Secure to hold office for the ensuing year.

As no additional nominations were received in accordance with the advanced notice provisions of Secure's bylaws, no additional nominees for election of Secure's Board of Directors will be considered at this meeting. May I please have a motion to elect those nominated as directors of Secure.

Mr. Chairman, I move that the 8 individuals nominated be elected as directors of Secure.

Mr. Chairman, I second the motion.

[Operator Instructions] The conference will be placed on hold while we tabulate any votes received. You may proceed.

I am advised by the scrutineer that the result of the vote is that each of Rene Amirault, Mark Bly, Mick Dilger, Allen Gransch, Wendy Hanrahan, Joseph Lenz, Susan Riddell Rose and Deanna Zumwalt have been duly elected as directors of Secure. Our next item of business is the appointment of the auditors, and I would ask for a motion on this matter.

Mr. Chairman, I move that KPMG LLP Chartered Accountants be appointed auditors of Secure to hold office until the next Annual Meeting of Shareholders at such remuneration as may be fixed by the directors.

Mr. Chairman, I second the motion.

[Operator Instructions] You may proceed.

I'm advised by the scrutineer that the results of the vote is that KPMG LLP has been duly appointed as the auditors of Secure to hold office until the next Annual Meeting of Shareholders at such remuneration as may be fixed by the directors. Our final item of business is a shareholder advisory vote on the corporation's report on executive compensation. The full text of the advisory resolution is set out on Page 15 of the information circular. May I have a motion to approve the resolution.

Mr. Chairman, I move to approve the advisory resolution as tabled at this meeting.

Mr. Chairman, I second the motion.

I'm advised by the scrutineers that the resolution has been duly carried. As there is no further formal business to be brought before the meeting, may I please have a motion to terminate the formal portion of the meeting.

I move that the meeting terminate.

Mr. Chairman, I second the motion.

Carried. There being no opposition, I declare the meeting terminated. We will now move on to any questions with respect to our formal proceedings. [Operator Instructions]. We have been advised by the operator that no questions have been received. Thank you, everyone, for attending Secure's Annual Meeting of Shareholders. Have a nice weekend. Goodbye.

Thank you. This now concludes the meeting. Have a wonderful day.