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Final Voting Results
Annual Meeting of Common Shareholders
Halifax, Nova Scotia - February 25, 2005
FULL DETAILS OF THE MATTERS FOR SHAREHOLDER ACTION CAN BE VIEWED BY ACCESSING THE 2005 MANAGEMENT PROXY CIRCULAR (PDF).
The Board of Directors and management recommend that shareholders VOTE FOR items 1 and 2 below:
1. Election of Directors
On a vote by ballot, the nominees proposed by management were elected.
| W. Geoffrey Beattie |
For 346,695,248 (99.20%) |
Withheld: 2,780,105 (0.80%) |
| George A. Cohon |
For: 348,087,246 (99.60%) |
Withheld: 1,381,774 (0.40%) |
| Douglas T. Elix |
For: 284,594,806 (81.61%) |
Withheld: 64,114,260 (18.39%) |
| John T. Ferguson |
For: 347,684,109 (99.49%) |
Withheld: 1,785,443 (0.51%) |
| Paule Gauthier |
For: 346,788,018 (99.23%) |
Withheld: 2,680,804 (0.77%) |
| Jacques Lamarre |
For: 328,747,594 (94.07%) |
Withheld: 20,727,959 (5.93%) |
| Brandt C. Louie |
For: 348,215,470 (99.64%) |
Withheld: 1,259,151 (0.36%) |
| Gordon M. Nixon |
For: 347,970,366 (99.57%) |
Withheld: 1,505,187 (0.43%) |
| David P. O'Brien |
For: 347,662,051 (99.48%) |
Withheld: 1,813,352 (0.52%) |
| Robert B. Peterson |
For: 347,704,612 (99.49%) |
Withheld: 1,765,140 (0.51%) |
| J. Pedro Reinhard |
For: 347,134,695 (99.33%) |
Withheld: 2,340,858 (0.67%) |
| Cecil W. Sewell, Jr. |
For: 347,664,142 (99.48%) |
Withheld: 1,811,411 (0.52%) |
| Kathleen P. Taylor |
For: 348,116,251 (99.61%) |
Withheld: 1,359,302 (0.39%) |
| Victor L. Young |
For: 348,123,785 (99.61%) |
Withheld: 1,345,769 (0.39%) |
2. Appointment of Auditors
On a vote by ballot, Deloitte & Touche LLP were appointed auditors of the Bank.
For: 332,358,474 (95.15%)
Withheld: 16,917,261 (4.84%)
Against: 8,286 (0.00%)
The Board of Directors and management recommend that shareholders VOTE AGAINST the following Shareholder Proposals:
Proposal No. 1: Close subsidiaries in tax havens
On a vote by ballot, proposal No. 1 was rejected.
For: 6,642,422 (1.99%)
Against: 327,713,460 (98.01%)
Proposal No. 2: Compensation ceiling for executive officers
On a vote by ballot, proposal No. 2 was rejected.
For: 30,700,926 (9.18%)
Against: 303,708,883 (90.82%)
Proposal No. 3: 10-year term limits for independent directors
On a vote by ballot, proposal No. 3 was rejected.
For: 21,221,588 (6.35%)
Against: 313,208,068 (93.65%)
Proposal No. 4: Cumulative voting for directors
On a vote by ballot, proposal No. 4 was rejected.
For: 9,418,863 (2.82%)
Against: 324,970,285 (97.18%)
Proposal No. 5: Replace stock option plan with restricted share plan
On a vote by ballot, proposal No. 5 was rejected.
For: 30,559,712 (9.14%)
Against: 303,824,931 (90.86%)
Proposal No. 6: Candidates for Director must receive at least 75% support
On a vote by ballot, proposal No. 6 was rejected.
For: 6,963,977 (2.08%)
Against: 327,430,396 (97.92%)
Proposal No. 7: Directors who change principal occupation shall resign
On a vote by ballot, proposal No. 7 was rejected.
For: 5,952,732 (1.78%)
Against: 328,456,889 (98.22%)
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