Business Context and Reporting Period
This Form 8-K filing by Consolidated Water Co. Ltd. reports on the Annual General Meeting of Shareholders held on May 25, 2016. The company is incorporated in the Cayman Islands and operates in the water production and distribution sector.
Key Financial Metrics
This filing is a current report regarding corporate governance events and does not contain financial statements. Consequently, data regarding revenue, profit, cash flow, margins, debt, and liquidity are not provided in this document.
Material Changes
No material changes to financial performance or operations are reported in this filing. The document solely details the outcomes of shareholder votes.
Corporate Actions and Governance
- Election of Director: Brian E. Butler was elected as a director to serve until the 2019 Annual General Meeting. He received 7,448,069 votes "For" and 302,321 votes "Withhold." There were 4,630,561 broker non-votes.
- Executive Compensation: The non-binding advisory vote to approve executive compensation was approved. Votes were 7,228,570 "For," 308,889 "Against," and 212,931 "Abstain." There were 4,630,561 broker non-votes.
- Auditor Ratification: The appointment of Marcum LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2016, was ratified. Votes were 12,250,640 "For," 51,097 "Against," and 79,214 "Abstain." There were no broker non-votes on this proposal.
Investor Verification Checklist
- Verify the term length for the newly elected director, Brian E. Butler.
- Confirm the appointment of Marcum LLP as the auditor for the fiscal year ending December 31, 2016.
- Review the 2016 proxy statement for details on the executive compensation package that was approved.
- Note the significant number of broker non-votes (4,630,561) on the director election and compensation proposals.