- All seven director nominees were overwhelmingly approved with approximately 99.8% of votes in favor.
- Smythe LLP was appointed as the auditor with 99.9% approval from shareholders.
- Arras Minerals (ARK) introduced amendments to its equity incentive plan, receiving 98.9% approval.
Arras Minerals Corp. (ARK) successfully held its annual and special meeting of shareholders on April 29, 2025, with a participation of 30.8% of its outstanding shares, representing 31,113,266 shares. The shareholders voted to set the number of directors to seven, with key individuals such as Brian Edgar, Timothy Barry, and Darren Klinck being elected to the board. Each nominee received strong backing, with 99.8% of votes in favor.
During the meeting, shareholders also ratified the appointment of Smythe LLP as the auditor for the fiscal year ending October 31, 2025, with a near-unanimous 99.9% vote. Additionally, amendments were made to the company's equity incentive plan, converting it to a 10% rolling plan. This proposal was met with substantial support, as 98.9% of shareholders voted in favor.
Furthermore, Arras Minerals announced the issuance of 39,498 deferred share units (DSUs) to certain independent directors. The DSUs were granted in lieu of cash for the quarter ended April 30, 2025, priced at C$0.7754 per unit, and are part of the company's strategy to align management interests with those of shareholders. This marks the first issuance of DSUs to independent directors, showcasing a strategic shift in compensation policy.
