The legally convened shareholders’ meetings are the supreme body of the corporation and express the collective will in matters within their competence. The powers that the law or the articles of incorporation do not attribute to another body of the corporation will be the competence of the shareholders’ meeting. On September 15, Canopy Growth held this annual general and special shareholders’ meeting. The company has now released the results of the voting that took place during that meeting.
Just over 53% of the issued and outstanding shares of the company’s common stock were voted in connection with the meeting by proxies and shareholders. That amount translates to a total of 256,426,802 shares of common stock.
It appears that the outcome was quite positive, as the required majority was able to approve all matters submitted to the shareholders. The matters that were submitted for consideration were set forth in the company’s definitive proxy statement dated July 28, 2022.
Each of the directors who were present on the list of nominees in the Proxy Statement was elected at the meeting. As a result, the person elected will assume the role of director of the company until the next annual meeting of stockholders of the company or until his or her successor is duly elected or appointed.
Among the approvals also evidenced at the meeting was the re-election of KPMG LLP as auditors of the company for the 2023 fiscal year and the empowerment of the board to fix its remuneration. The company’s Employee Stock Purchase Plan was also approved by the vast majority of Canopy Growth shareholders.
Finally, the firm’s shareholders also gave the thumbs up to an advisory (non-binding) resolution on the compensation of the company’s named executive officers. The results announced are a clear indication of how in line the company’s shareholders are.