Skip to main content

Simpson Oil to evaluate options to protect shareholder rights at Parkland

Simpson Oil Ltd. says it will evaluate its options to protect its shareholder rights once restrictions under an agreement that limits its ability to nominate and vote for board members at Parkland Corp. expire on March 31. A boat travels past the Parkland Burnaby Refinery on Burrard Inlet at sunset in Burnaby, B.C., on Saturday, April 17, 2021. THE CANADIAN PRESS/Darryl Dyck Simpson Oil Ltd. says it will evaluate its options to protect its shareholder rights once restrictions under an agreement that limits its ability to nominate and vote for board members at Parkland Corp. expire on March 31. A boat travels past the Parkland Burnaby Refinery on Burrard Inlet at sunset in Burnaby, B.C., on Saturday, April 17, 2021. THE CANADIAN PRESS/Darryl Dyck
Share
CALGARY -

Simpson Oil Ltd. says it will evaluate its options to protect its shareholder rights once restrictions under an agreement that limits its ability to nominate and vote for board members at Parkland Corp. expires on March 31.

The company's two nominees on the Parkland board of directors resigned at the end of last year and it also waived its right to nominate two members to Parkland's board.

Parkland is set to hold its annual meeting on March 28.

Simpson Oil says, due to the date, the annual meeting will be held before the expiration of the voting restrictions under its nomination agreement with Parkland.

It says the meeting is set for more than a month earlier than the company has held its annual shareholder gathering than any time in the last 10 years.

Simpson Oil is the largest shareholder of Parkland with a nearly 20 per cent stake in the company.

This report by The Canadian Press was first published March 4, 2024.

CTVNews.ca Top Stories

BUDGET 2024

BUDGET 2024 Feds cutting 5,000 public service jobs, looking to turn underused buildings into housing

Five thousand public service jobs will be cut over the next four years, while underused federal office buildings, Canada Post properties and the National Defence Medical Centre in Ottawa could be turned into new housing units, as the federal government looks to find billions of dollars in savings and boost the country's housing portfolio.

Lululemon unveils first summer kit for Canada's Olympic and Paralympic teams

Lululemon showed off its collection for the Summer Olympics and Paralympics on Tuesday at the Liberty Grand entertainment complex. Athletes sported a variety of selections during a fashion show that featured garments to be worn on the podium, during opening and closing ceremonies, media interviews and daily life on the ground in France.

Stay Connected