...On behalf of our board of directors, I would like to welcome you to the 2025 Annual General Meeting of Interfor Corporation. My name is Lawrence Sauder, and as chair of the board, I will chair the meeting today. We welcome shareholders who are present in person, and shareholders and guests who are listening by telephone or joining by webcast today. If you are joining by phone or webcast, you will be in listen in mode only for the duration of the meeting. We have invited shareholders who had questions for us to submit their questions before this meeting. Though no questions were submitted for this meeting, we will be holding our regular quarterly analyst conference call tomorrow morning, and we have provided the dial-in details in our news release of April 8th.
I would now like to call the meeting to order and appoint Xenia Kritsos to serve as Secretary of the meeting. With the consent of the meeting, I appoint Marissa Beintema of Computershare Investor Services Inc. to act as scrutineer of the meeting. If there is any shareholder or proxy holder entitled to attend and vote at this meeting who is not registered with the scrutineer, please do so now. Only shareholders of the company of record at the close of business on March twelfth, 2025, or their duly appointed proxy holders are entitled to participate in and vote at this meeting. Proxies were required to be submitted by the proxy cutoff of 12:00 P.M. Pacific Time on May sixth, 2025.
Voting at this meeting will be by a show of hands, unless a poll is requested by myself or by a shareholder or proxy holder who is present in person and entitled to vote at this meeting. The Secretary has confirmed that the notice and access notification, including the notice of this meeting, the proxy form, were all mailed to all shareholders of record as of the close of business on March twelfth, twenty twenty-five. Unless there is an objection, I will dispense with reading the notice of the meeting. Computershare's Affidavit of Mailing is available if any shareholder wishes to examine it and will be filed with the minutes of this meeting. Copies of the notice of the meeting, the proxy form, and the information circular are all available on SEDAR+ and at interfor.com.
According to the preliminary report of the scrutineer, there are 59 shareholders present in person or by proxy, holding 39,680,745 common shares of the company, and I therefore declare that a quorum is present and this meeting is duly and properly constituted for the transaction of business. The first item of business is the presentation of the company's consolidated financial statements and the auditor's report for the year ending December 31, 2024. Copies of these statements and the auditor's report are available on SEDAR+ and at our website, interfor.com. Unless there's any objection, I will dispense with the reading of the auditor's report. Nobody wants to hear that. The next item of business is setting the number of directors.
The number of directors was last set by the shareholders at 12, and the directors recommend this number be decreased to 11. I move to resolve that under Article 11.1 of the articles of the company, the number of directors of the company be set at 11.
I second the motion.
Is there any discussion on the motion? If not, all those in favor, please signify by raising your hand. Any opposed? I declare the motion carried. The next item of business is the election of directors. The information circular for this meeting sets out the company's director nominees, and they are as follows: Ian Fillinger, Nicolle Butcher, Geoffrey Evans, Christopher Griffin, Rhonda Hunter, Thomas Milroy, Gillian Platt, Lawrence Sauder, Christina Sistrunk, Curtis Stevens, and Thomas Temple. Each of these nominees has consented to act as a director of the company. The shareholders who intend to nominate candidates for directorship at this meeting are required, under the articles of the company, to provide advance notice of their intention, but no such notice has been received.
Therefore, I declare the nominations closed, and I move to elect each of the individuals nominated in the Information Circular as a director of the company to hold office until the next Annual General Meeting of the shareholders.
I second the motion.
Is there any discussion on the motion? If there is none, all those in favor, please signify by raising your hand. Any opposed? I declare the motion carried. The next item of business is to reappoint KPMG LLP as the company's auditor. I move to appoint KPMG LLP as auditor of the company to hold office until the conclusion of the next Annual General Meeting at a remuneration to be set by the board of directors of the company.
I second the motion.
If there is no further discussion, all those in favor, please signify by raising your hand. I declare the motion carried. Shareholders have the opportunity to cast a say-on-pay advisory vote, which gives shareholders the opportunity to indicate their acceptance of the board's overall approach to executive compensation as set out in the information circular. This vote is non-binding, but the board will consider the outcome of the vote as part of the ongoing review of the executive compensation program at Interfor. So I move to resolve that, on an advisory basis only and not diminish the role and responsibility of the board of directors, the shareholders accept the approach to executive compensation disclosed in the information circular of the company that is dated March 12, 2025, delivered in connection with this meeting.
I second the motion.
Any discussion on this motion? No discussion. All those in favor, please signify by raising your hand. Any opposed? I declare the motion carried. This completes the formal business of this meeting. Since there are no other matters to come before the meeting, I move to terminate the meeting.
I second the motion.
All those in favor, please signify by raising your hand. Any opposed? I declare this motion and declare this meeting terminated, and thank you for your participation and interest in Interfor for another year. Thank you.