Akita Drilling Ltd. Class A · TSX:AKT
Akita Drilling Ltd. Class A — Shareholder Meeting (May 2021)
20 slides from Akita Drilling Ltd. Class A's shareholder meeting presentation, May 11, 2021
Slide 1: Annual General Meeting
Annual General Me e t in g Welcom e Shareowners t h Ma y 1 1 , 2 0 2 1
Slide 2: Forward Looking Statements Disclaimer
Forward Looking Statements Disclaimer Statements made by representatives of AKITA and information provided in AKITA’s AGM presentation may be considered forward-looking statements. By their nature, such statements are subject to numerous known and unknown risks and uncertainties and therefore actual
Slide 3: Chairman's Introduction
Ch air m an’s In t r odu ct ion By Lin da Sou t h er n-Heat h cot t
Slide 4: Financial Statements
Fin an cial St at em en t s AKITA’s consolidated financial statements for the year ended December 31, 2020 together with the auditor’s report have been filed with the Canadian securities regulatory authorities and have been sent to the registered shareholders and to those beneficial shareholders who
Slide 5: Election of Directors
Election of Directors • Eight currently serving directors, as set out in the March 11, 2021 Management Information Circular, have been nominated for a further one- year term. Upon election, each director will hold office until the next annual meeting of shareholders or until a successor is elected o
Slide 6: Election of Directors
Elect ion of Dir ect or s The Board recommends that shareholders vote FOR the election of each of the eight nominees as set out below. If you do not specify on the proxy form how you want to vote your shares and you do not appoint a proxyholder, the persons named in the form will vote FOR the electi
Slide 7: Director Profiles – Loraine M. Charlton
Director Profiles – Loraine M. Charlton, ICD.D Calgary, Alberta, Canada Director Since 2006, Age 64 Independent Loraine Charlton is currently Vice President and Chief Financial Officer of Lintus Resources Limited, a private oil and gas company with interests across Western Canada, and has over three
Slide 8: Director Profiles – Douglas A. Dafoe
Director Profiles – Douglas A. Dafoe, C.A., C.DIR Calgary, Alberta, Canada Director Since 2018, Age 66, Independent Douglas Dafoe has more than thirty years of industry experience in financial and operating positions of increasing responsibility. Mr. Dafoe is currently the President and Chief Execut
Slide 9: Director Profiles – Linda A. Southern-Heathcott
Director Profiles – Linda A. Southern-Heathcott, ICD.D, Honorary Lieutenant-Colonel, King’s Own Calgary Regiment Calgary, Alberta, Canada Director Since 1993, Age 58, Not Independent Ms. Southern-Heathcott is a founding director of the Company. She has been Chair of the Board since May 2006 and was
Slide 10: Director Profiles – Harish K. Mohan
Director Profiles – Harish K. Mohan, CPA, CA Calgary, Alberta, Canada Director Since 2011, Age 68, Independent Mr. Mohan joined the Board in 2011. He has 15 years of experience in the oil and gas drilling industry in Canada, the United States and overseas. He was employed by the ATCO Group of Compan
Slide 11: Director Profiles – Dale R. Richardson
Director Profiles – Dale R. Richardson Calgary, Alberta, Canada Director Since 1993, Age 77, Not Independent Mrs. Richardson is a founding director of the Company. She held various positions in the accounting departments of companies within the ATCO Group of Companies for 15 years. She was also resp
Slide 12: Director Profiles – Nancy C. Southern
Director Profiles – Nancy C. Southern Calgary, Alberta, Canada Director Since 1993, Age 64, Not Independent Ms. Southern is a founding director and Deputy Chair of the Company. Ms. Southern was appointed Chair of Canadian Utilities and ATCO effective December 1, 2012 and has been Chief Executive Off
Slide 13: Director Profiles – Henry G. Wilmot
Director Profiles – Henry G. Wilmot Calgary, Alberta, Canada Director Since 2014, Age 66, Independent Mr. Wilmot has broad based business experience including 40 years with the ATCO Group of Companies. During that time he held progressively senior positions and was most recently Chief Operating Offi
Slide 14: Director Profiles – Charles W. Wilson
Director Profiles – Charles W. Wilson Evergreen, Colorado, USA Director Since 2002, Age 80, Independent Mr. Wilson is Lead Director for the Board of Directors of ATCO Ltd and is a director of Canadian Utilities Limited and ATCO Australia Pty Ltd. He was the President and Chief Executive Officer of S
Slide 15: Appointment of Auditor
Appointment of Auditor • The Board, on the recommendation of the Audit Committee, proposes that PricewaterhouseCoopers LLP (“PwC”) be appointed as auditor to hold office until the next annual meeting of shareholders. PwC and its predecessor firm, Price Waterhouse LLP, has been AKITA’s auditor since
Slide 16: Executive Chair and CEO Message
Executive Chair and CEO Message by Linda Southern-Heathcott
Slide 17: Financial Overview
Financial Overview by Darcy Reynolds Vice President Finance and Chief Financial Officer
Slide 18: 2020 Results
2020 Results Revenue Operating Margin Canada, Canada, $33,560 $8,254 United United States, States, $20,297 $91,198 Canada United States Canada United States For ye ar e nde d De ce m be r 31 2020 2019 EBITDA $15,617,000 $19,131,000 Funds Flow From Operations $10,321,000 $12,925,000 Net Loss $93,274,
Slide 19: Q1 2021 Results
Q1 2021 Results Revenue Operating Margin Canada, $14,120 Canada, United $3,795 United States, States, $4,231 $18,929 Canada United States Canada United States For thre e m onths e nde d March 31, 2021 2020 EBITDA $4,534,000 $11,646,000 Funds Flow From Operations $3,719,000 $10,154,000 Net Loss $3,65
Slide 20: Thanks for attending AKITA's Annual General Meeting
Th an ks f or at t en d in g t h AKITA’s 2 7 An n u a l Ge n e r a l Me e t in g