ENWIN ENERGY LTD.
BOARD OF DIRECTORS MEETING PUBLIC MEETING MINUTES
MONDAY, JUNE 26, 2017
A public meeting of the ENWIN Energy Ltd. Board of Directors was held on Monday, June 26, 2017 in the Boardroom at 787 Ouellette Avenue, Windsor, Ontario.
ATTENDANCE:
Directors: Drew Dilkens (Chair), Eddie Francis, Jo-Anne Gignac, Nancy Creighton and Kulveer Virk
Regrets: Keith Andrews
Officers and Staff: President & CEO Helga Reidel, VP Shared Services and COO John Wladarski, VP Finance and CFO Byron Thompson, VP Water Operations Garry Rossi, VP Hydro Operations Jim Brown, Director Finance Matt Carlini, Director Regulatory Affairs Paul Gleason, Director Hydro Engineering Marvio Vinhaes, Manager Corporate Communications & Public Relations Barbara Peirce Marshall and Executive Assistant and Recording Secretary Debbie DeDona
Guests: Melissa Osborne, City of Windsor, Peter Frise, University of Windsor (by phone), Volf Leshchynsky, University of Windsor, Dmitry Dzhurinskiy, University of Windsor, and Joe Udzbinac, Tessonics
CALL TO ORDER & DECLARATION OF CONFLICTS OF INTEREST
The Chair noting quorum called the meeting to order at 9:03 a.m.
No conflicts were declared.
CONSENT AGENDA
Moved by E. Francis and seconded by N. Creighton That the following Consent Agenda item be received or approved as recommended. -CARRIED • EWE Board Meeting Minutes of April 24, 2017
ENWIN Energy Board of Directors Meeting Public Meeting Minutes Monday, June 26, 2017 Page 2
COMMUNICATION AGENDA
With respect to the City of Windsor Resolution to Add Director to EWE, the Board inquired whether this was in line with correct processes. The CEO advised that a resolution of WCU was required to increase the number of directors from five to seven and WCU would still need to approve this recommendation/request from City Council.
The CEO provided some background information regarding ENWIN Financial Services Ltd. and that the company may be required for proposed future business activities.
Moved by J. Gignac and seconded by N. Creighton That the following Communication Agenda items be received or approved as recommended. -CARRIED
• President & CEO Report • VP Shared Services Report • Financial Compliance Reporting Q1, 2017 • City of Windsor Resolution to Add Director • EDA Training Schedule • 2017 Meeting Schedule
ENWIN EXECUTIVE REPORTS
EWE Q1 2017 FINANCIAL REVIEW
The Board inquired about the earnings realized for EWE investments. B. Thompson advised that investments are currently earning 0.95% in interest and are not locked in. Any investments in new business lines of more than $3 million need to be approved by City Council. The Board directed Management to re-visit cash flow projections, determine the appropriate amount of money required for investment and to obtain better interest rates on investments.
Moved by K. Virk and seconded by N. Creighton That the ENWIN Energy Ltd. Q1 2017 financial review report be received. -CARRIED
EWF UNAUDITED FINANCIAL STATEMENTS FOR YEAR ENDING DECEMBER 31, 2016
Moved by E. Francis and seconded by J. Gignac That the ENWIN Financial Services Ltd. 2016 Unaudited Financial Statements be received. -CARRIED
ENWIN Energy Board of Directors Meeting Public Meeting Minutes Monday, June 26, 2017 Page 3
IN CAMERA SESSION
Moved by J. Gignac and seconded by K. Virk That the Board move to the In Camera session. -CARRIED
The In Camera session commenced at 9:13 a.m. The In Camera session concluded at 9:53 a.m.
TERMINATION
Moved by E. Francis and seconded by J. Gignac That the meeting be terminated. -CARRIED
The meeting terminated at 9:53 a.m.
Original signed by Debbie DeDona ______Recording Secretary