Tesco Corporation (NASDAQ:TESO) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07.
On December1, 2017, Tesco Corporation (“TESCO”) held a special meeting of shareholders and other securityholders of TESCO (the “Special Meeting”) in Alberta, Canada. The final results for each of the proposals submitted to a vote of securityholders at the Special Meeting are set forth below. No broker non-votes were received with respect to the Special Meeting
| (1) | The proposal to pass a special resolution approving the arrangement with Nabors Industries Ltd. and Nabors Maple Acquisition Ltd. (the “Arrangement”), a copy of which is attached as Annex B to TESCO’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on October26, 2017 (the “Definitive Proxy Statement”), was approved based on the following votes: |
|
Votes For |
Votes Against |
Abstain |
| 33,282,174 | 7,133,540 | 1,405,523 |
| (2) | The proposal to approve, solely on an advisory (non-binding) basis, the agreements or understandings between TESCO’s named executive officers and TESCO and the related compensation that will or may be paid to its named executive officers in connection with the Arrangement, as described in the Definitive Proxy Statement, was approved based on the following votes: |
|
Votes For |
Votes Against |
Abstain |
| 25,495,816 | 14,442,544 | 158,450 |
On December4, 2017, the Court of Queen’s Bench of Alberta granted the final order approving the Arrangement.
About Tesco Corporation (NASDAQ:TESO)
Tesco Corporation is engaged in designing, assembly and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service offerings consist primarily of equipment sales and services to drilling contractors, and exploration and production companies around the world. The Company operates through four segments: Top Drives, Tubular Services, Research & Engineering, and Corporate and Other. The Company’s Top Drive segment includes top drive sales, top drive rentals and after-market sales and services. Its Tubular Services segment includes automated and conventional tubular services. Its Research and Engineering segment includes internal research and development activities related to its automated tubular services and top drive model development, as well as the Casing Drilling technology prior to the sale.
