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National Post
01-05-2025
- Business
- National Post
Simpson Oil Reminds Parkland Shareholders to Vote the GOLD Proxy Card For Meaningful Boardroom Change
Article content Article content Deadline to Vote is 5:00 P.M. (Calgary Time) on Thursday, May 1, 2025 Article content Visit for Details on How to Vote, Information on Simpson Oil's Director Nominees, and Their Plan to Build Value for All Shareholders Article content GRAND CAYMAN, Cayman Islands — Simpson Oil Limited ('Simpson Oil', 'we' or 'our'), the largest shareholder of Parkland Corporation ('Parkland' or the 'Company'), holding 19.8% of the Company's outstanding common shares, reminds shareholders to vote FOR its nine highly-qualified director nominees using the GOLD universal proxy card ahead of the Company's upcoming Annual General Meeting (the 'Meeting') on May 6, 2025. Article content To ensure their vote is counted, shareholders must submit their proxy by 5:00 p.m. (Mountain Time) on Thursday, May 1, 2025. Article content Simpson Oil's call for boardroom change continues to gain momentum. In addition to the overwhelming support we've received from fellow shareholders, both Glass Lewis and ISS—the two leading independent proxy advisory firms—have recommended shareholders vote for meaningful boardroom change on the GOLD universal proxy card. As part of their recommendations, the proxy advisors highlighted Parkland's longstanding underperformance, financial and strategic missteps, and a troubling pattern of entrenchment and gamesmanship by the board of directors (the 'Board')—further underscoring the need for new, independent oversight. Article content Over the past two years, rather than addressing the ongoing performance issues and serious concerns raised by Simpson Oil, other shareholders, and the market at-large, the Board has instead engaged in gamesmanship and distraction tactics. In the latest example, Chairman Mike Jennings issued a last-ditch plea to shareholders. Had the incumbent Board been doing its job of creating long-term value, such an appeal wouldn't be necessary. They've had their chance. It's time for a new Board—aligned with shareholders and equipped with the independence, experience, and skillsets needed to Refuel Parkland and deliver lasting value. Article content – Monty Baker – Michael Christiansen – Mark Davis – Jackie Doak – Chris Folan – Brian Gibson – Marc Halley – Darcy Morris – Karen Stuckey Article content Only the GOLD universal proxy card allows shareholders to vote for Simpson Oil's entire slate. Do not vote using management's blue card or voting control. If you have already voted using management's blue proxy card, you are encouraged to vote only using the GOLD proxy or voting control number, which will override any previous vote. Article content The deadline to vote is 5:00 P.M. Calgary Time on Thursday, May 1, 2025. Article content If you would like to vote shares that you hold in your Employee Share Purchase Plan (ESPP), if you have not received your Voting Instruction Form (VIF) by mail, or if you need help voting the GOLD proxy, please contact Carson Proxy, at 1-800-530-5189 (North America Toll Free), 416-751-2066 (Local and Text), or by email at info@ Article content If you miss this deadline, we still encourage shareholders to submit the GOLD proxy and Simpson Oil will endeavour to ensure that your vote is counted. Article content For more information on the Simpson Oil nominees, their plan to unlock shareholder value at Parkland, and how to vote, visit Proxy materials are also available under Parkland's SEDAR+ profile at including a GOLD Proxy Card or voting instruction form. Article content Article content Article content Article content Contacts Article content Media Enquiries Longacre Square Partners Amy Freedman / Andy Radia SimpsonOil@ Article content Article content Article content
Business Wire
01-05-2025
- Business
- Business Wire
Simpson Oil Reminds Parkland Shareholders to Vote the GOLD Proxy Card For Meaningful Boardroom Change
GRAND CAYMAN, Cayman Islands--(BUSINESS WIRE)--Simpson Oil Limited ('Simpson Oil', 'we' or 'our'), the largest shareholder of Parkland Corporation ('Parkland' or the 'Company'), holding 19.8% of the Company's outstanding common shares, reminds shareholders to vote FOR its nine highly-qualified director nominees using the GOLD universal proxy card ahead of the Company's upcoming Annual General Meeting (the 'Meeting') on May 6, 2025. To ensure their vote is counted, shareholders must submit their proxy by 5:00 p.m. (Mountain Time) on Thursday, May 1, 2025. Simpson Oil's call for boardroom change continues to gain momentum. In addition to the overwhelming support we've received from fellow shareholders, both Glass Lewis and ISS—the two leading independent proxy advisory firms—have recommended shareholders vote for meaningful boardroom change on the GOLD universal proxy card. As part of their recommendations, the proxy advisors highlighted Parkland's longstanding underperformance, financial and strategic missteps, and a troubling pattern of entrenchment and gamesmanship by the board of directors (the 'Board')—further underscoring the need for new, independent oversight. Over the past two years, rather than addressing the ongoing performance issues and serious concerns raised by Simpson Oil, other shareholders, and the market at-large, the Board has instead engaged in gamesmanship and distraction tactics. In the latest example, Chairman Mike Jennings issued a last-ditch plea to shareholders. Had the incumbent Board been doing its job of creating long-term value, such an appeal wouldn't be necessary. They've had their chance. It's time for a new Board—aligned with shareholders and equipped with the independence, experience, and skillsets needed to Refuel Parkland and deliver lasting value. YOUR VOTE IS IMPORTANT, NO MATTER HOW MANY SHARES YOU OWN. PLEASE VOTE THE GOLD PROXY TODAY. Simpson Oil reminds shareholders to use only the GOLD proxy card to vote for ALL NINE of Simpson Oil's highly qualified director nominees: - Monty Baker - Michael Christiansen - Mark Davis - Jackie Doak - Chris Folan - Brian Gibson - Marc Halley - Darcy Morris - Karen Stuckey Only the GOLD universal proxy card allows shareholders to vote for Simpson Oil's entire slate. Do not vote using management's blue card or voting control. If you have already voted using management's blue proxy card, you are encouraged to vote only using the GOLD proxy or voting control number, which will override any previous vote. The deadline to vote is 5:00 P.M. Calgary Time on Thursday, May 1, 2025. If you would like to vote shares that you hold in your Employee Share Purchase Plan (ESPP), if you have not received your Voting Instruction Form (VIF) by mail, or if you need help voting the GOLD proxy, please contact Carson Proxy, at 1-800-530-5189 (North America Toll Free), 416-751-2066 (Local and Text), or by email at info@ If you miss this deadline, we still encourage shareholders to submit the GOLD proxy and Simpson Oil will endeavour to ensure that your vote is counted. For more information on the Simpson Oil nominees, their plan to unlock shareholder value at Parkland, and how to vote, visit Proxy materials are also available under Parkland's SEDAR+ profile at including a GOLD Proxy Card or voting instruction form. Advisors Blake, Cassels & Graydon LLP is serving as legal counsel. Longacre Square Partners is serving as strategic advisor, and Carson Proxy is serving as proxy solicitor.
Business Wire
29-04-2025
- Business
- Business Wire
Leading Proxy Advisory Firm Backs Simpson Oil's Call for Board Overhaul at Parkland
GRAND CAYMAN, Cayman Islands--(BUSINESS WIRE)--Simpson Oil Limited ('Simpson Oil', 'we' or 'our'), the largest shareholder of Parkland Corporation ('Parkland' or the 'Company'), holding 19.8% of the outstanding common shares, today announced that Glass, Lewis & Co. ('Glass Lewis'), a leading independent proxy advisory firm, has recommended that Parkland shareholders support meaningful boardroom change by voting for seven of its nine director nominees at the Company's Annual General Meeting (the 'Meeting' or the 'AGM') to be held on May 6, 2025. Glass Lewis recommends that shareholders vote the GOLD proxy card to elect Monty Baker, Michael Christiansen, Mark Davis, Chris Folan, Brian Gibson, Darcy Morris, and Karen Stuckey to the Board of Directors (the 'Board'). Simpson Oil reiterates that wholesale change is required, and that only the election of ALL NINE of its highly qualified nominees will deliver the fresh leadership, governance, and accountability shareholders deserve. A clean break is needed from legacy directors like Michael Jennings—whose tenure as Board Chair has been marked by entrenchment, gamesmanship, and value destruction—and James Neate, whose skillsets are neither additive nor needed on a refreshed Board. In its full report, Glass Lewis affirmed Simpson Oil's case for change, highlighting the magnitude and persistence of the Company's underperformance 1: ' This persistent underperformance, coupled with repeated financial and strategic execution challenges over multiple years, signals that stronger independent board oversight is necessary to drive shareholder value creation and strategic discipline.' Beyond poor performance, Glass Lewis flagged serious governance concerns, pointing to a pattern of Board 'entrenchment' and 'gamesmanship': 'Taken individually, each of these decisions—from the accelerated 2024 AGM timing, to the decision to include Dissident Nominees on its slate without prior notice or engagement, to the lack of a universal proxy form—could be explained as defensible in isolation. Taken together, however, they reveal a consistent pattern, in our view: the board has repeatedly taken governance actions that appear more reactive than proactive, and more focused on retaining control than facilitating transparent, shareholder-focused outcomes. ' Importantly, Glass Lewis also criticized the incumbent Board's disregard for shareholder input, particularly its past unwillingness to consider strategic alternatives despite persistent underperformance. While the incumbent Board has now reactively launched a strategic review and the CEO has tendered his resignation, Glass Lewis notes: 'With a CEO succession process and strategic alternatives review now running concurrently, it is essential that the board overseeing both be viewed by shareholders and the market as credibly independent, compositionally balanced, and strategically focused. Against this backdrop, we believe that a majority refresh is necessary to realign board composition with shareholder expectations and to ensure credible, shareholder-focused oversight of these critical processes.' Simpson Oil reaffirms that its nine-person slate is committed to pursuing a dual track process: conducting a comprehensive strategic review while simultaneously repositioning the Company for long-term success—all aligned to the goal of maximizing value for all shareholders. We are pleased that Glass Lewis, a respected and independent advisory firm, has recognized the consistent pattern of poor governance and ineffective leadership at Parkland, and has concluded that significant boardroom change is needed. Protect Your Investment: Vote For All NINE Simpson Oil Nominees For more information on the Simpson Oil nominees, their plan to unlock shareholder value at Parkland, and how to vote for the entire Simpson Oil slate on the GOLD Proxy Card, visit Proxy materials are also available under Parkland's SEDAR+ profile at including a GOLD Proxy Card or voting instruction form. The deadline to return proxies to Simpson Oil is 5:00 p.m. (Calgary time) on Thursday, May 1, 2025. If you would like to vote shares that you hold in your Employee Share Purchase Plan (ESPP), if you have not received your Voting Instruction Form (VIF) by mail, or if you need help voting the GOLD proxy, please contact Carson Proxy, at 1-800-530-5189 (North America Toll Free), 416-751-2066 (Local and Text), or by email at info@
Business Wire
29-04-2025
- Business
- Business Wire
ISS Joins Glass Lewis in Urging Parkland Shareholders to Vote For Meaningful Change
GRAND CAYMAN, Cayman Islands--(BUSINESS WIRE)--Simpson Oil Limited ('Simpson Oil', 'we' or 'our'), the largest shareholder of Parkland Corporation ('Parkland' or the 'Company'), holding 19.8% of the outstanding common shares, today announced that Institutional Shareholder Services Inc. ('ISS') has joined Glass, Lewis & Co. ('Glass Lewis') in recommending that Parkland shareholders support significant change by voting for six of its nine director nominees at the Company's Annual General Meeting (the 'Meeting' or the 'AGM') to be held on May 6, 2025. ISS has recommended that shareholders vote the GOLD proxy card to elect Monty Baker, Michael Christiansen, Chris Folan, Brian Gibson, Darcy Morris, and Karen Stuckey to the Board of Directors (the 'Board'). Both ISS and Glass Lewis delivered scathing assessments of the current Board and its prolonged track record of underperformance and value destruction. In recommending the GOLD proxy card, ISS noted: '…it is paradoxical that the board would concede a compelling case for change, as evidenced by the planned resignation of the company's CEO, commencement of a strategic review, and recommendation for three dissident nominees, while asserting that PKI (and not shareholders) should control how many, and which dissident nominees should be elected.' On governance, ISS criticized the Board's handling of CEO succession, noting: 'The board's actions with respect to CEO succession in the last year are troubling in view of the fact that little evidence exists robust CEO succession planning measures were implemented, including an evaluation of external CEO prospects, during a pivotal year for CEO performance.' Both proxy advisors also flagged 'grave' governance concerns, citing entrenched behaviors and persistent gamesmanship. ISS concluded: 'In short, the board has displayed a troubling pattern of decision-making aimed at thwarting the dissident. This has been reflected in the board's treatment of the dissident, in the board's persistent gamesmanship, and in the board's failure to proactively address leadership and other critical matters. These and other decisions have come at a steep cost to shareholders.' ISS also underscored that responsibility for these governance failures extends to key members of the current Board: '[Chair Michael] Jennings served alongside [Richard] Hookway and [Nora] Duke on the [governance and ethics] committee over the past year, meaning that all three bear some responsibility for PKI's deficient corporate governance.' In light of the above commentary, Simpson Oil reiterates the urgent need for wholesale change and the election of all NINE of its highly qualified nominees. Michael Jennings is clearly accountable for the reactive behaviour of the Board as a whole and its efforts to prevent Simpson Oil from exercising its basic shareholder rights—the tone comes from the top. Furthermore, with the selection of Chris Folan by both ISS and Glass Lewis, there is no justification for retaining legacy director James Neate. Finally, given the Board's history of flawed governance practices, we caution the Company from deploying any tactics that could delay the Meeting and/or compromise the integrity of the shareholder vote. Protect Your Investment: Vote For ALL NINE Simpson Oil Nominees Simpson Oil reiterates that only the election of ALL NINE of its highly qualified nominees will deliver the fresh leadership, governance, and accountability shareholders deserve. VOTE TODAY: Please ensure your GOLD form of proxy or VIF is received by the proxy voting deadline of May 1, 2025, at 5:00pm Mountain Time. If you would like to vote shares that you hold in your Employee Share Purchase Plan (ESPP), if you have not received your Voting Instruction Form (VIF) by mail, or if you need help voting the GOLD proxy, please contact Carson Proxy, at 1-800-530-5189 (North America Toll Free), 416-751-2066 (Local and Text), or by email at info@ For more information on the Simpson Oil nominees, their plan to unlock shareholder value at Parkland, and how to vote for the entire Simpson Oil slate on the GOLD Proxy Card, visit Proxy materials are also available under Parkland's SEDAR+ profile at including a GOLD Proxy Card or voting instruction form. Advisors Blake, Cassels & Graydon LLP is serving as legal counsel. Longacre Square Partners is serving as strategic advisor, and Carson Proxy is serving as proxy solicitor.
Associated Press
28-04-2025
- Business
- Associated Press
ISS Joins Glass Lewis in Urging Parkland Shareholders to Vote For Meaningful Change
GRAND CAYMAN, Cayman Islands--(BUSINESS WIRE)--Apr 28, 2025-- Simpson Oil Limited ('Simpson Oil', 'we' or 'our'), the largest shareholder of Parkland Corporation ('Parkland' or the 'Company'), holding 19.8% of the outstanding common shares, today announced that Institutional Shareholder Services Inc. ('ISS') has joined Glass, Lewis & Co. ('Glass Lewis') in recommending that Parkland shareholders support significant change by voting for six of its nine director nominees at the Company's Annual General Meeting (the 'Meeting' or the 'AGM') to be held on May 6, 2025. ISS has recommended that shareholders vote the GOLD proxy card to elect Monty Baker, Michael Christiansen, Chris Folan, Brian Gibson, Darcy Morris, and Karen Stuckey to the Board of Directors (the 'Board'). Both ISS and Glass Lewis delivered scathing assessments of the current Board and its prolonged track record of underperformance and value destruction. In recommending the GOLD proxy card, ISS noted: '…it is paradoxical that the board would concede a compelling case for change, as evidenced by the planned resignation of the company's CEO, commencement of a strategic review, and recommendation for three dissident nominees, while asserting that PKI (and not shareholders) should control how many, and which dissident nominees should be elected.' On governance, ISS criticized the Board's handling of CEO succession, noting: 'The board's actions with respect to CEO succession in the last year are troubling in view of the fact that little evidence exists robust CEO succession planning measures were implemented, including an evaluation of external CEO prospects, during a pivotal year for CEO performance.' Both proxy advisors also flagged 'grave' governance concerns, citing entrenched behaviors and persistent gamesmanship. ISS concluded: 'In short, the board has displayed a troubling pattern of decision-making aimed at thwarting the dissident. This has been reflected in the board's treatment of the dissident, in the board's persistent gamesmanship, and in the board's failure to proactively address leadership and other critical matters. These and other decisions havecome at a steep cost to shareholders.' ISS also underscored that responsibility for these governance failures extends to key members of the current Board: '[Chair Michael] Jennings served alongside [Richard] Hookway and [Nora] Duke on the [governance and ethics] committee over the past year, meaning that all three bear some responsibility for PKI's deficient corporate governance.' In light of the above commentary, Simpson Oil reiterates the urgent need for wholesale change and the election of all NINE of its highly qualified nominees. Michael Jennings is clearly accountable for the reactive behaviour of the Board as a whole and its efforts to prevent Simpson Oil from exercising its basic shareholder rights—the tone comes from the top. Furthermore, with the selection of Chris Folan by both ISS and Glass Lewis, there is no justification for retaining legacy director James Neate. Finally, given the Board's history of flawed governance practices, we caution the Company from deploying any tactics that could delay the Meeting and/or compromise the integrity of the shareholder vote. Protect Your Investment: Vote For ALL NINE Simpson Oil Nominees Simpson Oil reiterates that only the election of ALL NINE of its highly qualified nominees will deliver the fresh leadership, governance, and accountability shareholders deserve. VOTE TODAY: Please ensure your GOLD form of proxy or VIF is received by the proxy voting deadline of May 1, 2025, at 5:00pm Mountain Time. If you would like to vote shares that you hold in your Employee Share Purchase Plan (ESPP), if you have not received your Voting Instruction Form (VIF) by mail, or if you need help voting the GOLD proxy, please contact Carson Proxy, at 1-800-530-5189 (North America Toll Free), 416-751-2066 (Local and Text), or by email at [email protected]. For more information on the Simpson Oil nominees, their plan to unlock shareholder value at Parkland, and how to vote for the entire Simpson Oil slate on the GOLD Proxy Card, visit Proxy materials are also available under Parkland's SEDAR+ profile at including a GOLD Proxy Card or voting instruction form. Advisors Blake, Cassels & Graydon LLP is serving as legal counsel. Longacre Square Partners is serving as strategic advisor, and Carson Proxy is serving as proxy solicitor. View source version on CONTACT: Media Enquiries Longacre Square Partners Amy Freedman / Andy Radia [email protected] Shareholder Enquiries Carson Proxy Christine Carson, 416-804-0825 [email protected] KEYWORD: CARIBBEAN CAYMAN ISLANDS NORTH AMERICA CANADA INDUSTRY KEYWORD: ENERGY PROFESSIONAL SERVICES OIL/GAS FINANCE SOURCE: Simpson Oil Limited Copyright Business Wire 2025. PUB: 04/28/2025 05:20 PM/DISC: 04/28/2025 05:21 PM
