PRECISION DRILLING Corp 6-K, filed May 15, 2020
PRECISION DRILLING Corp (PDS)
About this 6-K
PRECISION DRILLING Corp filed this 6-K on May 15, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Section 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of May 2020
Commission File Number: 001-14534
Precision Drilling Corporation
(Exact name of registrant as specified in its charter)
800, 525 – 8th Avenue S.W.
Calgary, Alberta
Canada T2P 1G1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F Form 40-F X
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
SIGNATURE
Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Dated: May 14, 2020 | PRECISION DRILLING CORPORATION | |||||
| By: | /s/ Carey T. Ford | |||||
| Name: | Carey T. Ford | |||||
| Title: | Senior Vice President and Chief Financial Officer | |||||
| Exhibit | DESCRIPTION |
| 99.1 | Precision Drilling Corporation Announces Voting Results from the 2020 Annual and Special Meeting of Shareholders |
| 99.2 | Report of Voting Results |
Exhibit 99.1
NEWS RELEASE
PRECISION DRILLING CORPORATION ANNOUNCES voting results FROM the 2020 ANNUAL AND SPECIAL MEETING of shareholders
Calgary, Alberta, Canada – May 14, 2020
Precision Drilling Corporation (“Precision”) announces that all resolutions considered by shareholders at its 2020 Annual and Special Meeting of Shareholders, held on May 14, 2020 (the “Annual Meeting”), have been approved.
Shareholders approved the election of 8 board members (7 of whom are independent), with shares represented at the meeting voting in favour of individual directors as follows:
| Nominee | # Votes For | % Votes For | # Votes Withheld | % Votes Withheld | ||||||||||||
| Michael R. Culbert | 138,278,231 | 97.99 | 2,838,675 | 2.01 | ||||||||||||
| William T. Donovan | 133,209,455 | 94.40 | 7,907,451 | 5.60 | ||||||||||||
| Brian J. Gibson | 134,678,627 | 95.44 | 6,438,279 | 4.56 | ||||||||||||
| Steven W. Krablin | 136,294,758 | 96.58 | 4,822,148 | 3.42 | ||||||||||||
| Susan M. MacKenzie | 137,452,424 | 97.40 | 3,664,482 | 2.60 | ||||||||||||
| Kevin O. Meyers | 136,391,981 | 96.65 | 4,724,925 | 3.35 | ||||||||||||
| David W. Williams | 138,257,892 | 97.97 | 2,859,014 | 2.03 | ||||||||||||
| Kevin A. Neveu | 132,971,418 | 94.23 | 8,145,488 | 5.77 | ||||||||||||
About Precision
Precision is a leading provider of safe and High Performance, High Value services to the oil and gas industry. Precision provides customers with access to an extensive fleet of Super Series drilling rigs supported by an industry leading technology platform that offers innovative drilling solutions to deliver efficient, predictable and repeatable results through service differentiation. Precision also offers well service rigs, camps, rental equipment and directional drilling services all backed by a comprehensive mix of technical support services and skilled, experienced personnel.
Precision is headquartered in Calgary, Alberta, Canada. Precision is listed on the Toronto Stock Exchange under the trading symbol “PD” and on the New York Stock Exchange under the trading symbol “PDS”.
For further information, please contact:
Carey Ford, Senior Vice President & Chief Financial Officer
713.435.6100
Dustin Honing, Manager, Investor Relations & Corporate Development
403.716.4500
800, 525 - 8th Avenue S.W.
Calgary, Alberta, Canada T2P 1G1
Website: www.precisiondrilling.com
Exhibit 99.2
Annual and Special Meeting of Shareholders of
PRECISION DRILLING CORPORATION
May 14, 2020
REPORT OF VOTING RESULTS
National Instrument 51-102 – Continuous Disclosure Obligations - Section 11.3
In respect of the Annual and Special Meeting (the "Annual Meeting") of holders of common shares of Precision Drilling Corporation (the "Corporation"), the following sets forth a brief description of each item of business (as more fully described in the Corporation’s Management Information Circular, dated April 1, 2020) which was voted upon at the Annual Meeting and the outcome of the vote:
| Description of Matter | Votes For | Percent | Votes Against/ Withheld |
Percent | |
| 1. |
Ordinary resolution to approve the election of the following nominees to serve as the directors of the Corporation for the ensuing year, or until successors are duly elected or appointed:
Michael R. Culbert |
138,278,231 | 97.99% | 2,838,675 | 2.01% |
| William T. Donovan | 133,209,455 | 94.40% | 7,907,451 | 5.60% | |
| Brian J. Gibson | 134,678,627 | 95.44% | 6,438,279 | 4.56% | |
| Steven W. Krablin | 136,294,758 | 96.58% | 4,822,148 | 3.42% | |
| Susan M. MacKenzie | 137,452,424 | 97.40% | 3,664,482 | 2.60% | |
| Kevin O. Meyers | 136,391,981 | 96.65% | 4,724,925 | 3.35% | |
| David W. Williams | 138,257,892 | 97.97% | 2,859,014 | 2.03% | |
| Kevin A. Neveu | 132,971,418 | 94.23% | 8,145,488 | 5.77% | |
| 2. | Ordinary resolution to approve the appointment of KPMG LLP as auditors of the Corporation to hold office until the next annual meeting of shareholders at a remuneration to be fixed by the board of directors. | 152,281,715 | 98.58% | 2,198,614 | 1.42% |
| 3. | Advisory resolution on the Corporation's approach to executive compensation (“Say-on-Pay”). | 110,057,124 | 77.99% | 31,059,780 | 22.01% |
| 4. | Special resolution approving a share consolidation that authorizes the Board of Directors of the Corporation (the “Board”), at such time as the Board deems appropriate, but in any event not later than one year after the Annual Meeting, at a ratio to be determined by the Board but within the range of 1 post-consolidation share for every 5 to 40 old shares. | 126,075,255 | 81.61% | 28,405,071 | 18.39% |