CALGARY, Alberta, May 08, 2018 (GLOBE NEWSWIRE) —
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Alaris Royalty Corp. (“Alaris” or the “Corporation”) (TSX:AD) is announcing changes to its Board of Directors as well as the results of voting on the election of directors at this year’s annual general meeting (the “Meeting”) of shareholders held earlier today, May 8, 2018.
Mr. John Budreski, a director of Alaris since the company went public in 2008, did not stand for re-election in 2018. Mr. Budreski was replaced on this year’s proxy ballot by Mr. Jay Ripley (CPA), a businessman and founder of one of Alaris’ most successful former partner companies, Sequel Youth and Family Health Services.
“I would like to personally thank John for his nearly ten years of service to Alaris. John has been with us since the day we went public in 2008 and has been a tremendous contributor to our board. On behalf of the rest of our board, management and all of our shareholders, we wish John the best with his other business interests,” said Steve King, President and Chief Executive Officer, Alaris.
Mr. King continues, “Jay Ripley will give our board a unique skillset from his broad experience as an incredibly successful entrepreneur including experience running public companies, private equity sponsored companies and as a former partner of Alaris. With the vast majority of our company’s assets being in the United States, we are also pleased to welcome our first American board member. Our whole company has been lucky enough to get to know Jay and his wife Barbara over the last five years and look forward to welcoming them back as part of the Alaris family.”
Mr. Ripley is a co-founder and serves as Chairman of Sequel Youth & Family Services, a national operator of behavioral health services in the USA and former Partner of Alaris. Sequel currently operates 46 programs in 20 states, serving over 9,000 clients from 42 states and U.S. territories with over 4,000 employees. Mr. Ripley is also a founding partner and an Advisory Board member of CYWP Funds, a group of private equity funds located in the Washington, DC area which invest in operating businesses and real estate across the USA. Previously, Mr. Ripley was a co-founder and the principal owner of BGR, “The Burger Joint”, a highly-acclaimed fast-casual gourmet burger restaurant concept. Additionally, Mr. Ripley was a founding stockholder of Youth Services International, and served as its President and COO as well as its CFO. Mr. Ripley also served as President and CEO of Precision Auto Care, a worldwide franchisor of automotive service centers, as well as Corporate Controller and then VP Eastern Division Operations for Jiffy Lube, the leading franchisor of quick lube centers in North America. He began his career with Ernst & Young, CPAs in Baltimore, MD. Mr. Ripley is a Summa Cum Laude graduate of the University of Baltimore (“UB”), and has served as a member of UB’s Foundation board for the past six years. He is a member of the Chief Executives Organization as well as the Young Presidents Organization.
Each of the nominee directors recommended by management and listed in the Corporation’s information circular and proxy statement dated March 23, 2018 was elected as a director for a term ending at the next annual meeting of shareholders. The results of the voting for each individual director are set forth below:
|Jack C. Lee||16,167,995 (98.29%)||281,863 (1.71%)|
|E. Mitchell Shier||15,429.869 (93.80%)||1,019,989 (6.20%)|
|Mary C. Ritchie||16,171,687 (98.31%)||278,171 (1.69%)|
|Stephen King||16,391,822 (99.65%)||58,036 (0.35%)|
|Gary Patterson||16,160,416 (98.24%)||289,442 (1.76%)|
|Robert Bertram||15,868,862 (96.47%)||580,996 (3.53%)|
|Jay Ripley||16,384,003 (99.60%)||65,855 (0.40%)|
Final voting results on all matters voted on at the meeting will be filed on SEDAR (www.sedar.com) under Alaris’ profile later today.
The Corporation provides alternative financing to a diversified group of private companies (“Private Company Partners”) in exchange for royalties or distributions from the Private Company Partners, with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders. Royalties or distributions to Alaris from the Private Company Partners are adjusted annually based on the percentage change of a “top line” financial performance measure such as gross margin, same clinic sales, gross revenues and same-store sales and rank in priority to the owners’ common equity position.
For further information please contact:
Vice President, Investments and Investor Relations
Alaris Royalty Corp.
P: (403) 221-7305
Suite 250, 333 24th Avenue S.W., Calgary, Alberta T2S 3E6