Titan Medical Announces Voting Results From Its Annual AND SPECIAL Meeting of Shareholders
15 June 2018 - 9:15PM
Titan Medical Inc. (“
Titan” or
the “
Company”) (TSX:TMD) (OTCQB:TITXF), a medical
device company focused on the design, development and
commercialization of a robotic surgical system for application in
minimally invasive surgery, reported shareholder vote results from
the Company’s Annual and Special Meeting held on Thursday, June 14,
2018.
All of management’s nominees for election were
duly elected as directors of the Company by the shareholders
present or represented by proxy at the meeting. The results of the
vote were reported to the meeting by Computershare, which acted as
scrutineer at the meeting, as follows:
|
ForNumber |
% |
WithheldNumber |
% |
|
|
|
|
|
John
Barker |
51,820,845 |
78.88 |
13,875,546 |
21.12 |
|
|
|
|
|
David
McNally |
64,479,257 |
98.15 |
1,217,134 |
1.85 |
|
|
|
|
|
Stephen Randall |
54,769,397 |
83.37 |
10,926,994 |
16.63 |
|
|
|
|
|
John
Schellhorn |
62,641,150 |
95.35 |
3,055,241 |
4.65 |
|
|
|
|
|
Bruce
Wolff |
59,124,929 |
90.00 |
6,571,462 |
10.00 |
|
|
|
|
|
A total of 297,193,033 (or 70.78%) of the
419,888,311 common shares outstanding were voted at the
meeting.
Shareholders passed the motion (with 46,883,459
votes (71.36%) for and 18,812,932 votes (28.64%) against) approving
the stock option plan of the Company.
Shareholders passed the motion (with 261,778,215
votes (88.08%) for and 35,414,816 votes (11.92%) against)
authorizing the consolidation of the outstanding common shares of
the Company on the basis of a ratio to be determined by the board
of directors of the Company in its sole discretion, within a range
of one post-consolidation common share for every 5 to 30
outstanding pre-consolidation common shares of the Company.
The appointment of BDO Canada LLP as Auditors of
the Company was approved by shareholders (with 287,610,199 votes
(96.78%) for and 9,582,834 votes (3.22%) withheld) in respect of
the motion.
About Titan Medical Inc.
Titan Medical Inc. is focused on research and
development through to the planned commercialization of
computer-assisted robotic surgical technologies for application in
minimally invasive surgery. The Company is developing the SPORT
Surgical System, a single-port robotic surgical system. The SPORT
Surgical System is comprised of a surgeon-controlled patient cart
that includes a 3D high-definition vision system and
multi-articulating instruments for performing MIS procedures, and a
surgeon workstation that provides an advanced ergonomic interface
to the patient cart and a 3D endoscopic view inside the patient’s
body. Titan intends to initially pursue focused surgical
indications for the SPORT Surgical System, which may include one or
more of gynecologic, urologic, colorectal or general abdominal
procedures.
For more information, please visit the Company’s
website at www.titanmedicalinc.com.
Forward-Looking Statements
This news release contains “forward-looking
statements” which reflect the current expectations of management of
the Company’s future growth, results of operations, performance and
business prospects and opportunities. Wherever possible, words such
as “may”, “would”, “could”, “will”, “anticipate”, “believe”,
“plan”, “expect”, “intend”, “estimate”, “potential for” and similar
expressions have been used to identify these forward-looking
statements. These statements reflect management’s current beliefs
with respect to future events and are based on information
currently available to management. Forward-looking statements
involve significant risks, uncertainties and assumptions. Many
factors could cause the Company’s actual results, performance or
achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, including, without limitation,
those listed in the “Risk Factors” section of the Company’s Annual
Information Form dated March 31, 2018 (which may be viewed at
www.sedar.com). Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward looking
statements prove incorrect, actual results, performance, or
achievements may vary materially from those expressed or implied by
the forward-looking statements contained in this news release.
These factors should be considered carefully, and prospective
investors should not place undue reliance on the forward-looking
statements. Although the forward-looking statements contained in
the news release are based upon what management currently believes
to be reasonable assumptions, the Company cannot assure prospective
investors that actual results, performance or achievements will be
consistent with these forward-looking statements.
ContactS:
LHA Investor Relations Kim Sutton Golodetz(212)
838-3777kgolodetz@lhai.com orBruce Voss(310)
691-7100bvoss@lhai.com
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