Caribbean Utilities Company, Ltd Announces Voting Results for the Election of Directors, Appointment of Auditors and Board of Directors Compensation Structure

CARIBBEAN UTILITIES COMPANY, LTD. CLASS A ORDINARY SHARES ARE LISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK EXCHANGE.

GRAND CAYMAN, Cayman Islands, May 10, 2019 /CNW/ - Caribbean Utilities Company, Ltd. (TSX:CUP.U) ("CUC" or "the Company") announced that the nominees listed in the Company's Notice to Shareholders and Management Information Circular dated March 11, 2019 were elected as Directors of Caribbean Utilities Company, Ltd at the Company's Annual Meeting of Shareholders held on May 9, 2019 in Grand Cayman, Cayman Islands.

Election of Directors

The following nominees were elected to serve as directors of CUC until the next annual meeting of the Company or until their successors are elected or appointed. Notwithstanding that the motions were passed by a show of hands vote at the meeting, the votes recorded by proxy in advance of the meeting were as follows:

Nominees	Votes For		Votes Withheld
Mr. J. Bryan Bothwell	20,310,824	99.68%	65,609	0.32%
Mr. Alphonsus Delaney	20,314,502	99.70%	61,931	0.30%
Mrs. Jennifer P. Dilbert	20,315,037	99.70%	61,396	0.30%
Mrs. Sheree Ebanks	20,189,033	99.08%	187,400	0.92%
Mr. Woodrow Foster	20,185,894	99.06%	190,539	0.94%
Mrs. Sophia Harris	20,314,240	99.69%	62,193	0.31%
Mr. J.F. Richard Hew	20,315,299	99.70%	61,134	0.30%
Mr. Mark Macfee	20,314,400	99.70%	62,033	0.30%
Mr. Eddinton M. Powell	20,296,797	99.61%	79,636	0.39%
Mr. David E. Ritch	20,310,324	99.68%	66,109	0.32%
Mr. Gary Smith	20,312,302	99.69%	64,131	0.31%
Mr. Peter A. Thomson	20,310,022	99.67%	66,411	0.33%
Mr. Lynn R. Young	20,314,240	99.69%	62,193	0.31%

Change of Auditors

Shareholders of the Company approved the appointment of Deloitte LLP. as auditors of CUC until the next annual meeting of the Company, and the Board of Directors was authorized to fix the auditors' remuneration.

Notwithstanding that the resolutions were passed by a show of hands vote at the meeting, the votes recorded by proxy in advance of the meeting were as follows:

Votes For		Votes Withheld
22,485,472	98.18%	436,388	1.90%

Directors Compensation Structure

Shareholders of the Company approved the remuneration schedule for members of the Board of Directors, attached as Appendix 1 to Schedule A of the Company's 2019 Information Circular dated March 11, 2019, with immediate effect.

Notwithstanding that the resolutions were passed by a show of hands vote at the meeting, the votes recorded by proxy in advance of the meeting were as follows:

Votes For		Votes Against		Votes Withheld
20,005,283	98.18%	358,600	1.76%	12,550	0.06%

CUC provides electricity to Grand Cayman, Cayman Islands, under a non-exclusive Electricity Generation Licence expiring in 2039 and an exclusive Electricity Transmission and Distribution Licence expiring in 2028.  Further information is available at www.cuc-cayman.com.

Caribbean Utilities Company, Ltd. ("CUC" or "the Company"), on occasion, includes forward-looking statements in its media releases, Canadian securities regulatory authorities filings, shareholder reports and other communications. Forward-looking statements include statements that are predictive in nature, depend upon future events or conditions, or include words such as "expects", "anticipates", "plan", "believes", "estimates", "intends", "targets", "projects", "forecasts", "schedule", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could".  Forward-looking statements are based on underlying assumptions and management's beliefs, estimates and opinions, and are subject to certain risks and uncertainties surrounding future expectations generally that may cause actual results to vary from plans, targets and estimates. Such risks and uncertainties include but are not limited to operational, general economic, market and business conditions, regulatory developments and weather conditions. CUC cautions readers that actual results may vary significantly from those expected should certain risks or uncertainties materialize or should underlying assumptions prove incorrect.  Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future.  Readers are cautioned that such information may not be appropriate for other purposes. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.

SOURCE Caribbean Utilities Company, Ltd.

Letitia Lawrence, Vice-President Finance & C.F.O., Phone: [phone], Fax: [phone]

Related Links

http://www.cuc-cayman.com