TransAlta Corporation Announces Results of the Annual Meeting of Shareholders and Election of all Directors

Apr 20, 2017

CALGARY, Alberta (April 20, 2017) – TransAlta Corporation (TSX: TA; NYSE: TAC) (“TransAlta” or the “Company”) held its Annual Meeting of Shareholders on April 20, 2017 in Calgary, Alberta.  A total of 126,567,006 common shares, representing 43.96% of the shares outstanding were represented in person and by proxy at the meeting.

The following resolutions were considered by Shareholders:

  1. Election of Directors

The nine director nominees proposed by management were elected by a show of hands.  Proxies were received as follows:

Nominee Votes For Per cent Withheld Per cent
John P. Dielwart 118,657,429 97.71% 2,779,026 2.29%
Timothy W. Faithfull 118,789,723 97.82% 2,646,732 2.18%
Dawn L. Farrell 118,761,470 97.80% 2,674,985 2.20%
Alan J. Fohrer 118,877,413 97.89% 2,559,042 2.11%
Gordon D. Giffin 117,995,546 97.17% 3,440,909 2.83%
P. Thomas Jenkins 106,516,301 87.71% 14,920,154 12.29%
Yakout Mansour 118,794,450 97.82% 2,642,005 2.18%
Georgia R. Nelson 106,023,523 87.31% 15,412,932 12.69%
Beverlee F. Park 106,378,987 87.60% 15,057,468 12.40%

 

  1. Appointment of Auditors

The appointment of Ernst & Young LLP to serve as the independent auditors for 2017 was approved by a show of hands.  Proxies were received as follows:

Votes For Per cent Withheld Per cent
124,293,545 98.33% 2,113,141 1.67%

 

  1. Advisory Vote on Executive Compensation

The advisory vote on the Company’s approach to executive compensation was conducted by ballot and the resolution was not approved.  The votes by ballot were received as follows:

Votes For Per cent Votes Against Per cent
57,496,305 47.29% 64,097,750 52.71%

As this is an advisory vote, the results will not be binding upon the Board; however, the Board will take the results of this vote into account, as appropriate, when considering future compensation policies, procedures and decisions.  The Board will also continue engaging directly with Shareholders to receive feedback regarding the Company’s approach to executive compensation, and the Board will assess its future compensation policies, procedures, and decisions in the context of such feedback.   The Company considers its approach to executive compensation as being a significant component of its broader corporate governance practices, which is generally consistent with best practices and includes claw-back policies, diversity policies, share ownership guidelines, anti-hedging policies and equity grant controls.

 

About TransAlta:

TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta maintains a low-to-moderate risk profile by operating a highly contracted portfolio of assets in Canada, the United States and Australia. TransAlta’s focus is to efficiently operate wind, hydro, solar, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. For over 100 years, TransAlta has been a responsible operator and a proud contributor to the communities in which it works and lives. TransAlta has been recognized on CDP’s Canadian Climate Disclosure Leadership Index (CDLI), which includes Canada’s top 20 leading companies reporting on climate change, and has been selected by Corporate Knights as one of Canada’s Top 50 Best Corporate Citizens and is recognized globally for its leadership on sustainability and corporate responsibility standards by FTSE4Good.

 

For more information about TransAlta, visit our web site at transalta.com, or follow us on Twitter @TransAlta.

 

For more information:

 Investor Inquiries:                                                                  Media Inquiries:        

Jaeson Jaman                                                                          Stacey Hatcher

Manager, Investor Relations                                                   Manager, Communications

Phone: 1-800-387-3598 in Canada and U.S.                          Toll-free media number: 1-855-255-9184

Email: investor_relations@transalta.com                               Email: ta_media_relations@transalta.com