Ladies and gentlemen, welcome to the Annual and Special Meeting of GURU Organic Energy. Please note that the meeting will be recorded. I would like to introduce Carl Goyette. Mr. Goyette, the floor is yours.
Bonjour mesdames et messieurs et bienvenue à l'assemblée annuelle et extraordinaire des actionnaires de GURU Organic Energy. Je suis Carl Goyette, président et chef de la direction de la société. C'est avec plaisir que je vous présente Tyler Ricks, notre nouveau président du conseil d'administration, qui présidera l'assemblée aujourd'hui.
Une fois que la portion formelle de l'assemblée sera terminée, les actionnaires auront l'occasion de poser des questions à l'un d'entre nous. L'assemblée d'aujourd'hui se tiendra dans les deux langues officielles et les actionnaires pourront poser leurs questions dans la langue de leur choix. Please note that this meeting is being held in both official languages, and questions may be asked in either language and will be answered accordingly. Tyler, la parole est à toi.
Thank you, Carl. Today's meeting is being held in a virtual format for accessibility and efficiency. We will first go through the formal portion of the meeting, after which shareholders will have the opportunity to ask questions to GURU's management. I'm pleased to be joined today by Carl Goyette, President and CEO, and Ingy Sarraf, CFO and Corporate Secretary, who will present the formal portion of the meeting.
Before moving to the formal part of the meeting, I'd like to take the opportunity to thank our employees, partners, and shareholders for their continued trust and support. Fiscal 2025 marked an important turning point for GURU. Through disciplined execution, a sharper operating focus, and deliberate strategic decisions, we strengthened our fundamentals and positioned the company on a much more solid footing.
The progress achieved this year reflects the strength of our business and our ability to build sustainable, profitable growth in the better-for-you energy category. Without further delay, I officially call this meeting to order. I will now turn the floor over to Ingy to handle the formal proceedings. Ingy.
If you have already voted by proxy, you do not need to vote again. If you wish to vote during the meeting, your new vote will override your proxy vote. Once the voting has opened, the resolutions and voting choices will be displayed. We now declare the polls open. We have received satisfactory proof that the notice of meeting was duly given and sent to shareholders in accordance with applicable regulations.
Carl Goyette has been designated to act as a proposer and Tyler Ricks as seconder. Please note that Carl is a shareholder of the company and Tyler is a duly appointed proxy holder. Conformément aux pouvoirs qui me sont conférés par les règlements administratifs généraux de la société, je nomme Lori Winchester de Computershare Trust Company of Canada comme scrutateur de l'assemblée.
Le scrutateur nous a informés que nous avons obtenu le quorum étant donné qu'au moins two actionnaires qui détiennent au moins 25% des droits de vote rattachés aux actions donnant le droit de voter sont présents ou représentés par procuration. En conséquence, je déclare la présente assemblée constituée. Nous avons l'intention de traiter en premier lieu les aspects formels de l'ordre du jour. Once the formal part of the meeting is terminated, we will proceed with the question and answer period.
Any shareholder wishing to ask a question should, at the appropriate time during the question and answer period, submit their questions through the online platform in English or in French. The formal business of today's meeting includes one, the reception of the audited consolidated financial statements. Two, the election of auditors. Three, the appointment of auditors. Sorry, the election of directors as number two.
Three, the appointment of auditors. Four, the approval of the unallocated awards under our Omnibus Incentive Plan. La réception des états financiers audités de la société pour l'exercice terminé le 31 octobre 2025 est le premier point à l'ordre du jour. Les états financiers, y compris le rapport des auditeurs ainsi que le rapport de gestion, ont été transmis aux actionnaires de la société dans le délai prescrit.
Comme les actionnaires ont eu l'occasion d'examiner les états financiers et le rapport des auditeurs et qu'aucun vote n'est requis à cet égard, je les inclurai dans le procès-verbal de l'assemblée. L'élection des administrateurs est le prochain point à l'ordre du jour.
Comme il est indiqué dans la circulaire de sollicitation des procurations, la direction a proposé 7 candidats à titre d'administrateurs de la société. Le mandat de tous les administrateurs se terminera à la fin de la prochaine assemblée annuelle des actionnaires de GURU ou lors de l'élection ou la nomination de leur successeur.
My name is Carl Goyette, and I move that the following be nominated as directors of the company, myself, Carl Goyette, Tyler Ricks, Anne-Marie Laberge, Eric Graveline, Jeff Church, Joseph Zakher, and Philippe Meunier. I now ask for a motion to elect the directors.
My name is Tyler Ricks, and I second the motion.
I confirm that to my knowledge, the company has received no written notice from a shareholder nominating another individual for election to the board of directors within the period prescribed by the bylaws. The next item on the agenda is the appointment of the auditors for the fiscal year ended October thirty-first, two thousand twenty-six, and the authorization of the directors to determine their remuneration. I would ask a motion for the appointment of the auditors.
My name is Carl Goyette, and I move that KPMG LLP, Chartered Professional Accountants, the appointed auditors of the company for the fiscal year ending on October 31, 2026, and that their remuneration be determined by the board of directors.
My name is Tyler Ricks, and I second the motion.
The final item of business is the approval of unallocated awards under our Omnibus Incentive Plan, as further described in Annex C of our management information circular available on SEDAR Plus. As outlined in the circular, the Omnibus Incentive Plan is a rolling 10% security-based compensation arrangement.
Under the rules of the Toronto Stock Exchange, all unallocated awards under such a plan must be approved by shareholders every three years. Shareholders last approved the Omnibus Incentive Plan in March 2023. Accordingly, and as detailed in Annex C of the circular, the board of directors approved on January 21st, 2026, the continuation of the plan and the approval of all unallocated awards thereunder, subject to shareholder approval at this meeting.
This approval will allow the company to continue granting awards under the plan until March 12, 2029. I will now ask for a motion to approve the resolution set out in Annex C of the management information circular, approving all unallocated awards under the company's Omnibus Incentive Plan.
My name is Carl Goyette, and I move that the resolution approving all unallocated awards under the company's Omnibus Incentive Plan, as set out in Annex C of the management information circular, be approved.
My name is Tyler Ricks, and I second the motion.
As we have now covered all of the items of business of the formal portion of the meeting, we ask that all registered shareholders and proxy holders complete and submit their votes now if they have not already done so. I remind you that if you have already voted by proxy, it is not necessary to vote again.
The voting period is now closed for all of the items of business on the meeting agenda. We will now take a short break to tabulate the votes. As there are no other matters to be presented before the meeting, I will now ask for a motion to close the formal portion of the proceedings.
My name is Carl Goyette, and I move that the meeting be closed.
My name is Tyler Ricks, and I second that motion.
I now declare the formal portion of the meeting concluded. Before moving to the question and answer period, I would like to remind everyone that only shareholders or proxy holders can ask questions, and that the instructions for asking a question appear on your screen.
I would like to remind everyone that today's management remarks may contain forward-looking statements about GURU's current and future plans, expectations and intentions, results, level of activity, performance, goals or achievements, or other future events or developments which could cause GURU's actual results to differ materially from those expressed or implied by the forward-looking statements.
As a result, you are cautioned not to place undue reliance on them. In addition, please be aware that there may be references to certain financial measures that are not recognized under the International Financial Reporting Standards.
Please refer to the non-GAAP financial measure section of your latest MD&A for the period ended October 31, 2025 for a reconciliation of these measures to IFRS measures and additional information. We will now proceed with the shareholder question and answer session.
For those wishing to submit questions, you may do so by selecting the Ask a Question button located on the left of your screen. Please note that this meeting is being held in both official languages, and questions may be asked in either language and will be answered accordingly. Please type your message within the chat box at the bottom of the messaging screen and click the Send button. As there are no questions, this concludes our meeting today.
Thank you all for joining today's meeting. We appreciate your continued trust in Guru as we move forward in 2026. See you next year.
Ladies and gentlemen, thank you for attending today's meeting. You may now disconnect.