~Longstanding director to retire as previously
indicated~
VANCOUVER, June 23, 2017 /CNW/ - Westport Fuel Systems
Inc. ("Westport Fuel Systems") (TSX:WPRT / Nasdaq:WPRT)
today announced Mr. Wade Nesmith,
Chairman of Primero Mining Corp., and past founding director of
Westport Innovations Inc., as a new nominee to stand for election
at the upcoming Annual General Meeting of Shareholders on
June 28, 2017.
"We are pleased to nominate Mr. Nesmith for election as a
director to the Westport Fuel Systems Board of Directors", said
Chairman Brenda Eprile. "Wade's
expertise in corporate governance and capital markets, combined
with international experience and knowledge of the alternative fuel
industry through previous positions with Westport Innovations make
him a strong candidate for our Board as we approach the commercial
launch of Westport™ HPDI 2.0."
Mr. Nesmith founded Primero Mining Corp. in 2007 and currently
acts as its Chairman. In addition, he served as a director of
Silver Wheaton Corp. from 2004 to 2016. Mr. Nesmith joined Westport
Innovations (now Westport Fuel Systems) as a founding director in
1996 and served as director to 2000 while also holding various
positions with the company until 2003, including President,
Western Europe and VP of Strategic
Development. He was responsible for capital markets as well
as all operations in Europe
including OEM relationships. From 2004 to 2010, Mr. Nesmith
was an associate counsel at Lang Michener LLP (now McMillan LLP),
where he had also previously been counsel and partner. Mr.
Nesmith has also been a director of Polymer Group, Inc., Broadpoint
Securities and Oxford Automotive. He served as the Superintendent
of Brokers for the Province of British
Columbia from 1989 to 1992, and obtained his Bachelor of Law
degree from York University's Osgoode
Hall Law School in 1977.
As described in the Westport Fuel Systems proxy circular in
respect of the Annual General Meeting, Mr. Nesmith is a replacement
nominee director, to replace Dr. Warren
Baker who previously indicated his intention to retire once
a suitable replacement had been identified. Dr. Baker has
indicated that he will not be standing for re-election to the board
of directors at the Annual General Meeting and has withdrawn his
name from consideration.
"The Board cannot thank Warren enough for his commitment to
Westport Fuel Systems over the past 15 years", said Chairman
Brenda Eprile. "As both a member and
previous Chair of the Board, Warren has made significant
contributions to the success and growth of the company. His
distinguished career in science and technology has helped Westport
Fuels Systems drive innovation and technology to become the world
leader in alternative fuel systems and components. We wish him well
in his future endeavors."
Westport Fuel Systems nominees for election as directors
consists of all current directors that will stand for re-election:
Brenda J. Eprile (Chair),
Nancy Gougarty (Chief Executive
Officer), Anthony Harris,
Colin S. Johnston, Scott Mackie, Rodney
Nunn, and Peter Yu, plus the
now nominated Wade Nesmith in place
of Dr. Warren Baker.
The form of management proxy previously distributed to
registered shareholders in connection with the Annual General
Meeting provides management with discretionary authority to vote on
amendments or variations to matters coming before the meeting and
it is intended that all such proxies will be voted FOR Mr. Nesmith
as the new proposed director nominees. Therefore, if a registered
shareholder has submitted a management proxy and does not wish to
change their voting instructions contained in such proxy, no
further action is necessary. However, if a registered shareholder
has submitted a management proxy and does not wish the proxy to be
voted in this manner, they may revoke their proxy by personally
attending the meeting, revoking their proxy and voting their shares
in person. A registered shareholder may also revoke their proxy by
depositing an instrument in writing either at the office of
Computershare, at any time up to and including the last business
day before the day of the meeting, or any adjournment of the
meeting, at which the proxy is to be used, or with the chairman of
the Meeting on the day of the Meeting, or any adjournment in the
fashion described in the proxy circular in respect of the Meeting.
If a registered shareholder revokes their proxy and wants to submit
a new proxy their new proxy must be received by Computershare prior
to the proxy cutoff, as described in the proxy circular. Only
registered shareholders have the right to revoke a proxy.
Non-registered shareholders who wish to change their vote must
arrange for their nominees to revoke the proxy on their behalf.
About Westport Fuel Systems
At Westport Fuel Systems,
we are driving innovation to power a cleaner tomorrow. We are
inventors, engineers, manufacturers and suppliers of advanced
clean-burning fuel systems and components that can change the way
the world moves. Our technology delivers performance, fuel
efficiency and environmental benefits to address the challenges of
global climate change and urban air quality. Headquartered in
Vancouver, Canada, 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.
Cautionary Note Regarding Forward Looking Statements
This press release contains certain "forward looking
statements" within the meaning of applicable securities laws. Words
such as "anticipates", "believes", "expects", "intends", "will",
"should", "may", and similar expressions may be used to identify
forward looking statements. Forward looking statements are not
statements of historical fact and reflect Westport Fuel Systems'
current views about future events. This press release contains
forward-looking statements, including statements regarding the
anticipated conduct of the Meeting and directors proposed for
nomination at such Meeting. These statements are neither promises
nor guarantees, but involve known and unknown risks and
uncertainties and are based on both the views of management and
assumptions that may cause our actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activities, performance or achievements
expressed in or implied by these forward looking statements. These
risks and uncertainties include risks and assumptions related to
the conduct and outcome of the Annual General Meeting, as well as
other risk factors and assumptions that may affect our actual
results, performance or achievements discussed in Westport's Annual Information Form for the
year ended December 31, 2016, and
other filings made with securities regulators. Readers should not
place undue reliance on any such forward-looking statements, which
speak only as of the date they were made. We disclaim any
obligation to publicly update or revise such statements to reflect
any change in our expectations or in events, conditions or
circumstances on which any such statements may be based, or that
may affect the likelihood that actual results will differ from
those set forth in these forward looking statements except as
required by National Instrument 51-102. The contents of any
website, RSS feed or twitter account referenced in this press
release are not incorporated by reference herein.
SOURCE Westport Fuel Systems Inc.