Sagen MI Canada Inc. Announces Annual General Meeting Voting Results

TORONTO, June 12, 2024 /CNW/ – Sagen MI Canada Inc. (the “Company”) (TSX: MIC.PR.A) announced at its annual general meeting (the “Meeting”) held on June 12, 2024 the resolutions proposed in the Company’s proxy circular were carried. The detailed results are as follows. 

1. Election of each of the following eleven nominees as directors of the Company:

2. Appointment of Ernst & Young LLP as auditors of the Company:

In accordance with the Company’s articles, at the Meeting, each Class A Common Share of the Company (“Common Shares”) carries one vote per share and each Class A Preferred Share, Series 1 of the Company (“Voting Preferred Shares”) carries 0.1440 votes per share. As of the record date for the Meeting, the outstanding Common Shares represented approximately 64.99% of the aggregate voting rights attached to the Company’s issued and outstanding voting securities.

Sagen MI Canada Inc., operating through its wholly owned subsidiary, Sagen Mortgage Insurance Company Canada (doing business as SagenTM), is the largest private sector residential mortgage insurer in Canada. The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers. Sagen differentiates itself through customer service excellence, innovative processing technology, and a robust risk management framework. For more than two decades, the Company has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system. As at March 31st, 2024, the Company had $6.7 billion total assets and $2.9 billion shareholders’ equity. Find out more at www.sagen.ca.

Contact Information:

Investors – Amit Chalam, 647-248-2071 [email protected]
Media – Susan Carter, 905-287-5520 [email protected]

SOURCE Sagen Mortgage Insurance Company Canada