Latest news with #Board
Business Wire
an hour ago
- Business
- Business Wire
Roots Announces Results of Voting at Fiscal 2024 Annual and Special Meeting of Shareholders and Changes to Board of Directors
TORONTO--(BUSINESS WIRE)--Roots ('Roots,' 'Roots Canada' or the 'Company') (TSX: ROOT), a premium-outdoor lifestyle brand, today announced the results of voting at its Fiscal 2024 Annual and Special Meeting of Shareholders held today (the 'Meeting'). Each of the matters voted upon at the Meeting as set out below is described in greater detail in the Notice of Annual and Special Meeting of Shareholders and Management Information Circular of Roots dated June 6, 2025. The total number of shares represented at the Meeting was 32,924,989, representing approximately 82% of Roots' outstanding shares entitled to be voted. Election of Directors All of the nominees listed in the Management Information Circular prepared in connection with the Meeting were elected as directors by a resolution passed by a majority of the shareholders represented in person or by proxy at the Meeting, to hold office until the next annual meeting following their election or until their successors are elected or appointed. The following represents the votes received with regard to such matter: Nominee Votes For % Votes For Votes Against % Votes Against Phil Bacal 32,880,672 99.87% 43,987 0.13% Scott Cameron 32,882,972 99.87% 41,687 0.13% Mary Ann Curran 32,887,789 99.89% 36,870 0.11% Gregory David 32,887,732 99.89% 36,927 0.11% Edward H. Kernaghan 32,893,372 99.90% 31,287 0.10% Dale H. Lastman, C.M., O. Ont. 32,883,982 99.88% 40,677 0.12% Dexter Peart 32,886,772 99.88% 37,887 0.12% Meghan Roach 32,883,989 99.88% 40,670 0.12% Erol Uzumeri 32,867,677 99.83% 56,982 0.17% Expand As previously disclosed, Richard Mavrinac and Joel Teitelbaum did not seek re-election at the Meeting. Meghan Roach, President and Chief Executive Officer of Roots, stated: 'We look forward to welcoming Scott Cameron and Ed Kernaghan to the Roots Board of Directors. Scott's deep experience in Asia will be additive as we continue to explore global expansion, while Ed brings a strong background in capital markets and public company boards. I would also like to sincerely thank Joel Teitelbaum and Richard Mavrinac for their commitment and meaningful contributions to Roots over the years.' Erol Uzumeri, Chairman of the Board, added: 'We are excited to strengthen our Board with the appointments of Scott and Ed, whose complementary skills fit perfectly with our goals. Scott's international experience and Ed's governance expertise will bring valuable insights to our discussions as we work toward a promising future. On behalf of the Board, I am grateful to Joel and Richard for their thoughtful leadership and commitment throughout their tenure.' Scott Cameron is a self-employed consultant advising and financing ventures in the consumer, apparel, and sports/athletics sectors. Between 2021-2022, he served as CEO of Hourglass Cosmetics, a cruelty-free luxury beauty brand. Prior to that, Mr. Cameron held several senior executive roles at Canada Goose from 2016-2021, including President of Asia-Pacific, President of Greater China, EVP of Stores and Ecommerce, and Chief Strategy and Business Development Officer. Before Canada Goose, Mr. Cameron was a Partner in the Consumer and Retail practice at McKinsey & Company, advising global brands on growth strategy, merchandising, international expansion, organization, and digital transformation. He holds an MBA from Harvard Business School, where he was a George Baker Scholar, and a Bachelor of Commerce (Honours) from Queen's University. Edward Kernaghan is currently President of Kernwood Limited and a partner at Kernaghan & Partners, positions he has held since October 2000 and January 2015, respectively. Mr. Kernaghan has over 15 years of experience in the financial services business. He held the position of Executive Vice-President at Kernaghan Securities, a firm he started along with his father, Ted Kernaghan, in 2001. Mr. Kernaghan also currently serves on a number of other public company boards, including Velan Inc., Exco Technologies Limited, Obsidian Energy Ltd. and Black Diamond Group Limited. Mr. Kernaghan is a graduate of the University of Toronto with a Master of Science in Theoretical Physics, and he has a Bachelor of Science, Honors degree from Queen's University. Appointment of Auditors KPMG LLP was reappointed as auditor of Roots and the directors were authorized to fix the auditor's remuneration by a resolution passed by a majority of the shareholders represented in person or by proxy at the Meeting. The following represents the votes received with regard to such matter: Votes For % Votes For Votes Withheld % Votes Withheld 32,905,219 99.94% 19,770 0.06% Expand Approval of Amendment to Omnibus Equity Incentive Plan The adoption of the amendment to Roots' omnibus equity incentive plan was approved by a resolution passed by a majority of the shareholders present or represented by proxy at the Meeting. As a result, the total number of common shares of Roots available for issuance under the omnibus equity incentive plan has increased from 3,679,220 common shares to 4,084,703 common shares. The following represents the votes received with regard to such matter: Votes For % Votes For Votes Against % Votes Against 32,761,398 99.50% 163,261 0.50% Expand About Roots Established in 1973, Roots is a global lifestyle brand. Starting from a small cabin in northern Canada, Roots has become a global brand with over 100 corporate retail stores in Canada, two stores in the United States, and an eCommerce platform, We have more than 100 partner-operated stores in Asia, and we also operate a dedicated Roots-branded storefront on in China. We design, market, and sell a broad selection of products in different departments, including women's, men's, children's, and gender-free apparel, leather goods, footwear, and accessories. Our products are built with uncompromising comfort, quality, and style that allows you to feel At Home With NatureTM. We offer products designed to meet life's everyday adventures and provide you with the versatility to live your life to the fullest. We also wholesale through business-to-business channels and license the brand to a select group of licensees selling products to major retailers. Roots Corporation is a Canadian corporation doing business as 'Roots' and 'Roots Canada'.
Business Standard
11 hours ago
- Business
- Business Standard
Shyam Metalics gains after Q1 PAT rises 6% YoY to Rs 292 cr
Shyam Metalics and Energy advanced 2.05% to Rs 939.95 after the company reported 5.79% increase in consolidated net profit to Rs 292.15 crore in Q1 FY26 from Rs 276.14 crore in Q1 FY25. Revenue from operations grew by 22.35% year-on-year to Rs 4,418.84 crore for the quarter ended 30 June 2025. Profit before tax (PBT) stood at Rs 388.94 crore in the June quarter, up 3.95% from Rs 374.13 crore recorded during the same period a year ago. Total expenses increased by 22.89% YoY to Rs 3,839.22 crore in Q1 FY26. The cost of raw materials consumed stood at Rs 3,290.29 crore, registering a growth of 18.43% compared to the previous year. Employee benefit expenses amounted to Rs 123 crore, up 13.84% YoY. Meanwhile, the companys Board of Directors has approved the payment of the first interim dividend of Rs 1.80 per equity share for the financial year 202526. The record date for determining the entitlement of members for the interim dividend is set as Monday, 28th July 2025. The payment of the said dividend will be made within 30 days from the date of declaration. In addition, the Board has approved a proposal to raise funds by issuing equity shares or other equity-linked instruments or securities. This includes convertible or non-convertible preference shares, fully or partly convertible debentures, and composite issues of warrants entitling the warrant holders to apply for equity shares. These securities may be issued through private placement, including one or more qualified institutional placements, further public offerings of equity or debt securities, preferential issues, or any other permissible mode under applicable laws or any combination thereof, as deemed appropriate by the Board or its designated committee. The total amount to be raised shall not exceed Rs 4,500 crore. This fundraising is subject to shareholder approval at a general meeting and other statutory and regulatory approvals, as applicable. Furthermore, the board of directors has also approved the issuance of Non-Convertible Debentures (NCDs) aggregating up to Rs 3,000 crore, subject to necessary approvals from shareholders and relevant regulatory authorities. Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is amongst the largest producers of ferro alloys, one of the leading players in terms of pellet capacity and the fourth largest player in the sponge iron industry in terms of sponge iron capacity in India.
The Star
14 hours ago
- Business
- The Star
Bank Islam, OpusAM partner to offer Shariah-compliant investments
From left: Bank Islam director of wealth management Datin Zaharah Abd Muttalib, Bank Islam group chief business officer-retail banking Mizan Masram, Chairman of the Board, Opus Islamic Asset Management Noorshidah Ismail, and Opus Asset Management, group managing director Siaw Wei Tang. KUALA LUMPUR: Bank Islam Malaysia Bhd and Opus Asset Management Sdn Bhd (OpusAM) signed a memorandum of understanding (MoU) to form a strategic partnership aimed at providing a suite of curated Shariah-compliant investment solutions for new and existing Bank Islam clients. Bank Islam group chief business officer for retail banking, Mizan Masram, said the strategic collaboration with OpusAM reinforces the bank's commitment to providing customers with diversified investment opportunities and viable alternatives beyond traditional fixed deposits. 'OpusAM's range of fixed income funds is designed to cater to diverse financial goals, while providing liquidity and stability. Through this collaboration, we aim to empower clients to grow and preserve their wealth with confidence, grounded in prudent investment strategies and the principles of ethical finance,' Mizan said in a statement. Effective July 15, Bank Islam has become a new distribution partner for OpusAM's investment products, including the Opus Shariah Cash Extra Fund, Opus Shariah Income Fund, and Opus SRI Sukuk Fund (Class B). These products are now available through the bank's nationwide network of more than 100 branches. 'With the rise of fraudulent investment schemes promising unrealistic returns, many individuals have fallen victim to scams. At OpusAM, we are committed to promoting fixed income investments as a reliable and stable savings option, ensuring greater capital preservation for investors in times of global economic uncertainties,' OpusAM group managing director Siaw Wei Tang said. 'Through this partnership, we aim to provide Bank Islam's clients with broader access to our Shariah-compliant fixed income products, catering to both short-term and long-term investment horizons,' he added.
Daily Express
21 hours ago
- Business
- Daily Express
Sabah Mineral Management Sdn Bhd denies misconduct by CEO
Published on: Tuesday, July 22, 2025 Published on: Tue, Jul 22, 2025 By: FMT Text Size: Kota Kinabalu: Sabah Mineral Management Sdn Bhd (SMM) has firmly denied allegations of misconduct involving its Chief Executive Officer, Natasha Sim, and Company Secretary, Emily Chong, following the circulation of a photo showing both women beside a private aircraft during an official visit abroad. The image, which has recently resurfaced online, was reportedly taken during an August 2024 working visit to Indonesia as part of an ongoing foreign direct investment (FDI) engagement. In a statement, SMM described the public and media speculation surrounding the image as 'false, misleading and defamatory.' The company clarified that the visit was part of a formal engagement process with a prospective foreign investor, initiated in March 2023 by then-CEO Jonih Enggihon. According to SMM, Enggihon had recommended collaboration with the Indonesian mining conglomerate after a due diligence visit and Board approval was granted in February 2024. Following the approval, Sim who was serving as Chief Strategy Officer at the time was appointed by the Board to lead discussions on the potential partnership. 'The August 2024 trip, during which the photo in question was taken, was one of several working visits related to the FDI process. 'Both Sim and Chong had voluntarily cooperated with the Malaysian Anti-Corruption Commission (MACC) in December 2024, submitting detailed statements and documentation about the trip. 'An independent internal inquiry concluded in February 2025 found no evidence of wrongdoing, conflict of interest, or personal gain by any SMM officer involved. 'SMM is not a licensing authority, and our CEO has no power to approve or grant licenses,' the company noted. The company further alleged that the renewed attention may be politically motivated. It pointed to an ongoing legal suit filed by SMM against Enggihon and businessman Datuk Albert Tei, accusing them of fraud, breach of fiduciary duty, tampering with official documents, and conspiracy to injure the company. 'These allegations appear to recycle matters already under judicial scrutiny and could be part of a broader campaign to discredit SMM and its leadership,' the statement read. SMM urged the public, media, and political figures to verify facts before echoing unfounded claims. It also issued a warning that it would pursue legal action against any party disseminating defamatory or malicious falsehoods. 'We will not hesitate to take legal steps against individuals, media outlets, or public figures who continue to spread baseless accusations,' the company said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Perth Now
21 hours ago
- Business
- Perth Now
Australian shares gain as miners rise, banks fall
The local share market has moved modestly higher as rotation continues from Australia's expensive banks to its major miners. At midday on Tuesday, the benchmark S&P/ASX200 index was up 15.5 points, or 0.18 per cent, to 8,683.7, while the broader All Ordinaries had gained 20 points, or 0.22 per cent, to 8,946.2. Traders were digesting minutes from the Reserve Bank's July 7-8 meeting, in which the central bank surprised observers by leaving interest rates on hold rather than trimming them. The minutes said most board members felt cutting rates for a third time in the space of four meetings "would be unlikely to be consistent with the strategy of easing monetary policy in a cautious and gradual manner to achieve the Board's inflation and full employment objectives". Market participants were also pondering the reason for Monday's 1.0 per cent pullback, which followed a 1.37 per cent rally on Friday that had left the index at its highest level ever. Monday's heavy selloff following Friday's all-time high mirrored a pattern that had occurred around half a dozen times last year, IG analyst Tony Sycamore said. "While I find this pattern intriguing, I am still struggling to explain the rationale behind it," he wrote. In the absence of a better theory, it is possible Monday's pullback was profit-taking ahead of the August earnings season that is likely to highlight stretched valuations in certain sectors, particularly the banks, Mr Sycamore said. The ASX's financial sector was the worst performing at midday, down 1.2 per cent, while the materials/mining sector was the best performing, up 1.9 per cent. All four of the big retail banks were in the red with CBA down 2.0 per cent, NAB falling 1.6 per cent and Westpac and ANZ both dipping 1.1 per cent, while all of the major miners were in the green. BHP had grown 2.4 per cent, Fortescue had advanced 2.5 per cent and Rio Tinto had added 2.7 per cent. Goldminers were also doing well as the yellow metal traded for a one-month high of just over $US3,400 an ounce. Newmont had advanced 2.7 per cent, Evolution had risen 2.2 per cent and Emerald Resources had added 4.9 per cent. Back in the financial sector, Insignia had soared 11.5 per cent to $4.38 after the company formerly known as IOOF agreed to be acquired by a US-based private equity firm for $3.2 billion. CC Capital will pay $4.80 a share, a 56.9 per cent premium from Insignia's share price in December when news of its interest first became public, but less than the $5 per share price that CC lobbed in March. The Australian dollar meanwhile was buying 65.22 US cents, from 65.17 US cents around 5pm on Monday.
