Toromont to Hold Virtual Annual Meeting of Shareholders on May 1, 2020
March 24 2020 - 5:28PM
Toromont Industries Ltd. (TIH) is advising of a change in the
format of its Annual Meeting of Shareholders to be held on May 1,
2020, which was previously announced on February 11, 2020.
This year, due to global public health concerns
regarding the COVID-19 pandemic, we will be holding our Annual
Shareholders’ Meeting in a virtual-only format, via live audio
webcast. Our intention is to mitigate the risks to our
shareholders, employees and other stakeholders and to ensure all
shareholders have an equal opportunity to participate at the
meeting regardless of their location or constraints. There will be
no physical attendance at the meeting.
Toromont has been active in managing its business
and workforce through this rapidly changing environment. We started
by activating our Critical Incident Executive Response Team focused
on developing plans, assessing developments and responding
appropriately. Our focus is on the safety of our employees,
customers and other stakeholders, while ensuring that we can
continue to deliver services that are critical to the communities
that we serve. By way of example only, without our products and
support there could be disruption to food production and
distribution networks, power generation, critical infrastructure,
transportation and emergency response. We have instructed employees
to work from home where possible and have instituted precautions to
protect those who cannot.
While our businesses have been declared essential
in all circumstances requiring such a designation to date, we are
not insulated from the broader economic, financial and market
impacts of COVID-19. Temporary closures of certain mine sites and
construction projects, as well as the impact of the health crisis
on the global economies and financial markets, are expected have at
least a temporary impact on our business, operations and financial
condition. Toromont enters this situation in a strong financial
position. The collective management and leadership teams continue
to monitor the situation closely and are implementing responsible
measures to manage and protect the long term health of the
business.
Shareholders and other interested parties can
attend the Annual Shareholders’ Meeting virtually by going to
https://web.lumiagm.com/154118689 (password "toromont2020").
Detailed instructions about how registered and beneficial
shareholders may vote their shares and participate at the meeting
are included in Company’s Notice of Meeting and Management
Information Circular and related proxy materials, which will be
available at www.sedar.com and on our website at www.toromont.com.
Proxy forms or voting instruction forms are also being distributed
to shareholders, which will include instructions about how to
access the meeting and vote their shares. Registered shareholders
and duly appointed proxyholders (including beneficial shareholders
who appoint themselves as proxyholders) who participate at the
meeting will be able to listen to the meeting, ask questions and
vote, all in real time, provided they are connected to the
Internet. Guests, including non-registered shareholders who do not
appoint themselves as proxyholder, can log in to the meeting and
listen.
About Toromont
Toromont Industries Ltd. operates through two
business segments: The Equipment Group and CIMCO. The
Equipment Group includes one of the larger Caterpillar dealerships
by revenue and geographic territory - spanning the Canadian
provinces of Newfoundland & Labrador, Nova Scotia, New
Brunswick, Prince Edward Island, Quebec, Ontario and Manitoba in
addition to most of the territory of Nunavut. In addition,
the Group includes industry leading rental operations, a
complementary material handling business and an agricultural
equipment business. CIMCO is a market leader in the design,
engineering, fabrication and installation of industrial and
recreational refrigeration systems. Both segments offer
comprehensive product support capabilities. This press release and
more information about Toromont can be found at
www.toromont.com.
For more information contact:
Michael S. McMillan Executive Vice President and
Chief Financial Officer Toromont Industries Ltd.T: (416)
514-4790
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