TORONTO, May 2 (Reuters) - Canadian energy producer Crescent Point Energy Corp is poised to win support for its director nominees based on preliminary counting of votes, shrugging off opposition from activist investor Cation Capital, according to sources familiar with the situation.
Final results are expected to be announced on or before Friday.
Crescent Point, whose stock has underperformed the broader market in recent years, is under pressure from Cation Capital to change its board.
With ISS supporting some of the activist’s nominees and Glass Lewis supporting the company’s choices, investors expected a close vote on Wednesday.
Crescent Point and Cation could not immediately be reached for comment. The sources declined to be identified as the information is not public. (Reporting by John Tilak Editing by Denny Thomas and Matthew Lewis)