Newfoundland Capital Corporation Limited Announces Voting Results of the May 10, 2017 Annual General Meeting

DARTMOUTH, NS, May 11, 2017 /CNW/ - Newfoundland Capital Corporation Limited (the "Company") announced today the voting results of the Company's annual general meeting of shareholders on May 10, 2017.

Item Voted Upon

Resolution to appoint the directors of the Company. On a show of hands, each of the seven nominees set forth in the Company's 2017 Management Information Circular was elected as a director of the Company. In compliance with TSX rules following are the detailed proxy tabulations for the appointment of directors:

Nominee	For	%	Withhold	%	Voting Result
Michael C. MacDonald	55,624,768	99.27	410,920	0.73	Passed
Allen F. MacPhee	55,623,868	99.27	411,820	0.73	Passed
David I. Matheson	55,623,868	99.27	411,820	0.73	Passed
Harry R Steele	55,624,950	99.27	410,738	0.73	Passed
John R. Steele	55,624,868	99.27	410,820	0.73	Passed
Robert G. Steele	55,625,288	99.27	410,400	0.73	Passed
Donald J. Warr	55,623,868	99.27	411,820	0.73	Passed

Item Voted Upon

Resolution for the appointment of Ernst & Young LLP as auditors of the Company and authorization to the directors of the Company to fix their remuneration. On a show of hands, the resolution passed.  Following are the detailed proxy tabulations for the appointment of auditors:

	For	%	Withhold	%	Voting Result
Appointment of Auditors	56,032,288	99.99	3,300	0.01	Passed

Item Voted Upon

Resolution approving the extension of the expiry date of executive stock options held by the Chairman of the Board of Directors. On a ballot, the resolution passed. Following are the detailed proxy tabulations for the extension of the expiry date of options held by the Chairman:

	For	%	Against	%	Voting Result
Extension of Chairman's options	1,970,681	79.79	499,178	20.21	Passed

Item Voted Upon

Resolution approving the extension of the expiry date of executive stock options held by the President and Chief Executive Officer, the Chief Financial Officer and Corporate Secretary, and certain members of the Board of Directors. On a show of hands, the resolution passed. Following are the detailed proxy tabulations for the extension of the expiry date of options held by certain executives and directors:

	For	%	Against	%	Voting Result
Extension of options	55,536,848	99.11	498,840	0.89	Passed

About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) owns and operates Newcap Radio which is one of Canada's leading radio broadcasters with 95 licences across Canada. The Company reaches millions of listeners each week through a variety of formats and is a recognized industry leader in radio programming, sales and networking.

SOURCE Newfoundland Capital Corporation Limited

REF: Scott G.M. Weatherby, Chief Financial Officer and Corporate Secretary, Newfoundland Capital Corporation Limited, 8 Basinview Drive, Dartmouth, Nova Scotia B3B 1G4, Tel: [phone], Fax: [phone], e-mail: [email protected], Web: www.ncc.ca

Related Links

http://www.ncc.ca