Li-Cycle Announces Results of Annual General and Special Meeting

Li-Cycle Announces Updates from Annual General and Special Meeting

Li-Cycle Holdings Corp. (NYSE: LICY), a global leader in lithium-ion battery resource recovery, today shared updates from its Annual General and Special Meeting of Shareholders held on May 23, 2024.

AGM Voting Results

Key decisions from the AGM included:

  • Election of all Li-Cycle director nominees.
  • Approval of a share consolidation resolution.
  • Advisory approval of executive officer compensation.
  • Approval of a one-year frequency for future advisory votes on executive compensation.
  • Approval to adjourn the AGM to finalize the search for a new independent auditor.

Share Consolidation Update

Shareholders and the Board approved the consolidation of common shares at a ratio of 8 pre-consolidation shares to 1 post-consolidation share. This change aims to potentially increase the trading price of shares to meet NYSE compliance criteria. The consolidation is expected to take effect before the market opens on June 4, 2024, with shares trading under the same symbol “LICY” but a new CUSIP number: 50202P204. Fractional shares resulting from the consolidation will be canceled.

Leadership Update

Jacqueline (Jacqui) Dedo has been appointed as the new independent Board Chair, succeeding Tim Johnston, who will step down from the Board on May 31, 2024. Dedo brings over 40 years of experience in the automotive industry and will continue to serve as Chair of the Board’s Special Committee.

Board Committee Changes

  • Susan Alban is the new Chair of the Compensation Committee.
  • Diane Pearse is the new Chair of the Nominating and Governance Committee.
  • Scott Prochazka remains Chair of the Audit Committee.
  • Anthony Tse remains Chair of the Health, Safety, Environment & Sustainability Committee.

Independent Auditor Update

Li-Cycle is finalizing its selection of a new independent auditor and expects to announce the chosen candidate in the coming weeks.

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