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Hydro One Limited Announces Voting Results from Annual Meeting of Shareholders

May 15, 2018

TORONTO, May 15, 2018 /CNW/ - Hydro One Limited (Hydro One) (TSX: H), in accordance with Toronto Stock Exchange requirements, announced the voting results from its Annual General Meeting of Shareholders (AGM) held earlier today in Toronto, Ontario.

A total of 479,631,216 shares representing 80.49% of Hydro One's issued and outstanding common shares were voted in connection with the meeting. Shareholders voted in favour of all items of business put forth at the meeting as follows:  

Election of Directors:

Each of the 14 director nominees listed in the information circular for the 2018 AGM were elected as directors of Hydro One to serve until the next annual meeting of shareholders of the company or until their successors are elected or appointed:

Director

Votes For (percent)

 Votes Withheld (percent)

Ian Bourne

99.53%

0.47%

Charles Brindamour

99.48%

0.52%

Marcello (Marc) Caira       

99.63%

0.37%

Christie Clark      

99.53%

0.47%

George Cooke    

99.93%

0.07%

David F. Denison 

99.91%

0.09%

Margaret (Marianne) Harris

99.54%

0.46%

James Hinds      

99.93%

0.07%

Roberta Jamieson    

99.93%

0.07%

Frances Lankin

99.93%

0.07%

Philip S. Orsino  

99.93%

0.07%

Jane Peverett   

99.59%

0.41%

Gale Rubenstein 

99.63%

0.37%

Mayo Schmidt  

99.93%

0.07%

 

Appointment of External Auditors:

KPMG LLP was appointed as Hydro One's external auditors for the ensuing year and the directors were authorized to fix their remuneration:

Votes For (percent)

Votes Withheld (percent)

99.95%

0.05%

 

Advisory Resolution on Approach to Executive Compensation:

The advisory resolution on the company's approach to executive compensation was approved:

Votes For (percent)        

Votes Withheld (percent)

91.86%

8.14%

 

Notwithstanding the strong show of support from our shareholders in favour of our executive compensation practices, the Province of Ontario, the company's largest shareholder, has abstained from voting on this motion.  As previously disclosed, Hydro One has decided to conduct supplementary shareholder engagement and obtain additional independent advice on its executive compensation practices, including change of control and severance provisions.

About Hydro One Limited
We are Ontario's largest electricity transmission and distribution provider with more than 1.3 million valued customers, over C$25 billion in assets and 2017 annual revenues of nearly C$6 billion. Our team of over 7,400 skilled and dedicated regular and non-regular employees proudly and safely serves suburban, rural and remote communities across Ontario through our 30,000 circuit km of high-voltage transmission and 123,000 circuit km of primary distribution networks. Hydro One is committed to the communities we serve, and has been rated as the top utility in Canada for its corporate citizenship, sustainability, and diversity initiatives. We are one of only five utility companies in Canada to achieve the Sustainable Electricity Company designation from the Canadian Electricity Association. We also provide advanced broadband telecommunications services on a wholesale basis utilizing our extensive fibre optic network through Hydro One Telecom Inc. Hydro One Limited's common shares are listed on the Toronto Stock Exchange (TSX: H).

For More Information

For more information about everything Hydro One, please visit www.HydroOne.com where you can find additional information including links to securities filings, historical financial reports, and information about our governance practices, corporate social responsibility, customer solutions, and further information about our business.

SOURCE Hydro One Limited

For further information: For further information, please contact: Investors: Omar Javed, Vice President, Investor Relations, investor.relations@hydroone.com, 416-345-5943; Media: Jay Armitage, Director, Corporate Communications, media.relations@hydroone.com, 416-345-6868