Pivotree Inc. Announces Results from its Annual and Special Meeting of Shareholders

07/01/2021

TORONTO, July 1, 2021 /CNW/ - Pivotree Inc. (TSXV: PVT) ("Pivotree" or the "Company"), announced today the results of its annual and special meeting of shareholders held on June 30, 2021 (the "Meeting"). All of the resolutions proposed, as set out in the Company's management information circular dated May 12, 2021, were duly passed by the shareholders of the Company.

The resolution to set the number of Directors at eight (8) and authorize the Directors to set the number of directors within the minimum and maximum numbers provided for in the articles of the Company by way of resolution from time to time was approved. Each of the eight (8) nominees listed in the Management Information Circular of the Company was elected as a Director of the Company, with specific voting results as follows:

Director Nominee

Votes For

%

Votes Withheld

%

Ashlee Aldridge

13,133,395

99.776

29,550

0.224

Brian Beattie

13,104,017

99.552

58,928

0.448

Scott Bryan

12,375,412

94.017

787,533

5.983

William Di Nardo

13,133,195

99.774

29,750

0.226

Vernon Lobo

13,133,195

99.774

29,750

0.226

William Morris

13,132,095

99.766

30,850

0.234

Bryan O'Neil

13,133,095

99.773

29,850

0.227

Richard Powers

13,132,095

99.766

30,850

0.234

In addition, the resolution to appoint BDO Canada LLP as auditor of the Company for the ensuing year at a remuneration to be fixed by the Board of Directors was approved and the ordinary resolution to approve the omnibus equity incentive plan (the "Plan") of the Company was approved.

Incentive Plan Awards

Pivotree also announced that it has granted: (a) an aggregate of 58,823 restricted share units (each an "RSU") and 52,425 performance share units (each, a "PSU") to certain non-executive and executive officers of the Company pursuant to the Company's Equity Incentive Plan (the "Plan"), with each RSU and PSU vesting  over a period of three years; (b) an aggregate of 36,471 stock options (each, an "Option") to certain non-executive and executive officers, with all Options bearing an exercise price of $8.50 per share and being exercisable for a period of four years from the date of grant and (c) 8,823 deferred share units ("DSUs") to certain non-executive directors of the Company in respect of their services to the Company from April 1, 2021 to June 30, 2021, with each DSU vesting effective as of the date of grant and settleable at the option of the Company in cash or shares may be settled, at the option in the Company, in cash or common shares of the Company, or a combination thereof, upon the applicable director ceasing to be a director of the Company.

A copy of the Plan is attached as Appendix C to the Company's final prospectus dated October 23, 2020, which is available on the Company's profile on SEDAR at www.sedar.com.

About Pivotree

Pivotree is a leading global commerce and MDM services provider. It is an end-to-end vendor supporting clients from strategy, platform selection, deployment, and hosting through to ongoing support. It operates as a single expert resource to help companies adapt relentlessly in an ever-changing digital commerce landscape. Leading and innovative clients rely on Pivotree's deep expertise to choose enterprise-proven solutions and design, build, and connect critical systems to run smoothly at defining moments in a commerce business. Pivotree serves as a trusted partner to over 170 market-leading brands and forward-thinking B2C and B2B companies, including many companies in the Fortune 1000. With offices and customers in the Americas, EMEA, and APAC, Pivotree is widely recognized as a high-growth company and industry leader around the globe. For more information, visit http://www.pivotree.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Pivotree Inc.