VANCOUVER, BC - Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) held its Annual and Special Meeting of Shareholders (the “Meeting”) on Wednesday, April 29, 2020 in a virtual format, officially out of Vancouver, British Columbia. Shareholders approved all resolutions presented at the Meeting including the election of eight nominated directors, the appointment of KPMG LLP as Westport Fuel Systems auditors, the amendment of the Omnibus Incentive Plan and an advisory Say-on-Pay vote.
A summary of the results are as follows:
|Business||Outcome of Vote||Percentage of Votes For||Percentage of Votes Withheld/Against|
|Election of Directors|
|Appointment of Auditors||Approved||95.49%||4.51%|
|Amendment to Omnibus Incentive Plan||Approved||90.37%||9.63%|
|Executive Compensation (Advisory Vote)||Agree||90.28%||9.72%|
The company’s Chief Executive Officer, David M. Johnson also provided an update on the business of Westport Fuel Systems. A copy of the presentation delivered in this regard can be found at https://wfsinc.com/investors/corporate-overview and recording available as part of the virtual meeting replay.
To access a telephone replay of the virtual ASM please dial 1-800-319-6413 (Canada & USA toll-free) or +1-604-638-9010, and when prompted, enter the access code 4335#. The replay will be available until end of day May 6, 2020. Shortly after the meeting, the webcast archive will be available for viewing through the Westport Fuel Systems website. A downloadable MP3 file will also be available.
At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, we serve our customers in more than 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.
MTM to Supply LPG Systems to the Growing Algerian Market
Transaction to Bolster the Liquidity of MTM in Cherasco, Italy
Westport Fuel Systems today announced that it has has entered into an agreement for the refinancing of its convertible notes held by funds associated with Pangaea Two Management, LP and Cartesian Capital Group.
Westport Fuel Systems today announced that they have closed a US$10 million term credit facility from Export Development Canada to bolster liquidity during the COVID-19 pandemic.
Westport Fuel Systems has also scheduled a conference call for Friday, August 7, 2020 at 10:30am ET (7:30am PT)
Natural gas vehicles (NGV) may get a boost as power markets and renewable equipment production are seen as potential casualties.
The statistics not only show continuously growing sales of CNG and especially liquefied natural gas fueled vehicles, but also the growth of corresponding fueling infrastructure.
Simeon’s gas-powered Volvo is used to transport gas for partners. Stenberg is pleased with the new tractor unit.