PFB Corporation Announces Voting Results of Shareholders' Meeting

STOCK SYMBOL:  PFB

CALGARY, May 7, 2020 /CNW/ - (TSX – PFB) PFB Corporation ("PFB" or the "Corporation") is pleased to announce that on May 7, 2020 it held its annual general meeting of shareholders (the "Meeting") and all matters presented for approval have been fully authorized and approved.

At the Meeting, shareholders approved the election of all of the nominees proposed by management. The voting results were as follows:

Nominee	Votes "FOR"		Votes "Withheld"
	Tally	%	Tally	%
Bruce M. Carruthers	5,015,442	99.95	2,340	0.05
Donald J. Douglas	5,014,512	99.93	3,270	0.07
Matthew D. Joss	5,011,312	99.87	6,470	0.13
Leslie A Lundquist	5,014,512	99.93	3,270	0.07
John K. Read	5,014,612	99.94	3,170	0.06
Vanessa H. Rennie	5,011,312	99.87	6,470	0.13
C. Alan Smith	4,865,057	96.96	152,725	3.04
William H. Smith, Q.C	5,014,612	99.94	3,170	0.06
Gordon G. Tallman	5,014,912	99.94	2,870	0.06

In addition, the resolution to appoint KPMG LLP as auditors of the Corporation and authorize the board of directors to fix their remuneration for the upcoming year was approved. The voting results were as follows:

Appointment of KPMG LLP	Votes "FOR"		Votes "Withheld"
	Tally	%	Tally	%
	5,033,253	99.71	14,477	0.29

Finally, the resolution approving all unallocated stock options under the Corporation's stock option plan was approved by shareholders. The voting results were as follows:

Unallocated Stock Options	Votes "FOR"		Votes "Withheld"
	Tally	%	Tally	%
	4,866,197	96.98	151,585	3.02

The final voting results on all matters voted upon at the Annual Meeting of Shareholders held on May 7, 2020, will be filed on SEDAR.

The Corporation is also pleased to announce that Matthew D. Joss, CFA, has been elected to PFB's Board of Directors, effective May 7, 2020. Mr. Joss is a Senior Wealth Consultant & Director and Portfolio Manager at Cidel Asset Management Inc., a Canadian-based global private bank and asset management firm.

About PFB

PFB Corporation has two operating subsidiaries, Plasti-Fab Ltd. that operates in Canada and PFB America Corporation that operates in the United States. The Canadian segment primarily derives its revenues from the sale of expanded polystyrene ("EPS") foam products, which it manufactures at its facilities in Canada. The USA segment primarily derives its revenues from the sale of EPS foam products, customized log and timber structures made at its facilities in the United States which typically include design and installation services that together provide the basis for a bundled sale of its manufactured products. Both segments develop, manufacture and market insulation building products and technologies based on expanded polystyrene technology; that, when used as components of a building envelope, enable residential and commercial structures to be highly energy-efficient. We are also experts in engineered geotechnical applications of our products. PFB building products are used in both new and renovation markets in residential, commercial and industrial projects.

PFB Corporation is listed for trading on the Toronto Stock Exchange, symbol PFB.

SOURCE PFB Corporation

Mirko Papuga, CA, Chief Financial Officer, PFB Corporation, #300, 2891 Sunridge Way NE, Calgary, Alberta T1Y 7K7, Tel: [phone], Fax: [phone]

Related Links

http://www.pfbcorp.com