2015 Annual Meeting
October 17, 2015
The 42nd Annual Meeting of Paug-Vik Incorporated, Limited’s shareholders was held on October 17, 2015 at Dolly’s Hall in the NNVC Building in Naknek.
This year’s Annual Meeting is the first in which shareholders have been able to vote on-line, using Paug-Vik’s voting website, www.paugvikvote.com. Approximately 25% of all shares that were voted via proxy with regard to the 2015 Annual Meeting were voted through the www.paugvikvote.com website. This was an excellent turnout for the first year of an electronic voting website.
The Board’s present plan is for this voting website will be activated each year during the proxy solicitation for the annual meeting. This voting website is separate from the regular corporate website, www.pvil.com, and the regular corporate website will remain active throughout the year.
The voting results at the 42nd Annual Meeting were as follows. First, Chad Anderson, Paul Hansen, Sr., and Paula Monsen were all reelected as directors and will now serve terms expiring at the Annual Meeting in 2018. Congratulations to Chad, Paul and Paula!
Second, both Shareholder Resolution 2015-01 and Shareholder Resolution 2015-02 were passed by overwhelming majorities.
Shareholder Resolution 2015-01 concerned the approval of the PVIL Shareholder Trust as a “settlement trust” under ANCSA and received the approval of 95% of the shares voting on this Resolution (15,509.50 shares voting “Yes” out of the total of 16,265.19 shares that voted). Shareholder Resolution 2015-02 concerned the reduction of the quorum required for shareholder meetings from a majority of voting shares to one-third of voting shares. This Resolution received the approval of 89% of the shares voting on the Resolution (14,541.77 shares voting “Yes” out of 16,265.19 shares that voted). The lowered quorum requirement will be in effect for the 2016 Annual Meeting, which is preliminarily planned for Saturday, October 8, 2016.
Shareholders who voted either in person or by proxy (either electronic or paper) relative to the 42nd Annual Meeting will receive their $25 fee within the next few days after the meeting. Winners of the Early Bird Prizes and the other cash meeting prizes will also receive their prizes shortly.
Many thanks to all of our shareholders who participated in the 42nd Annual Meeting.