(Bloomberg) -- Crescent Point Energy Corp. shareholders voted to elect all of the company’s nominees to the board, rejecting a slate from activist investor Cation Capital Inc.

The results of the vote from the company’s annual meeting in Calgary were released by company spokeswoman Andree Morier.

The vote is a victory for Chief Executive Officer Scott Saxberg, whose leadership of Crescent Point since the 2014 oil crash had come under fire from Cation. The activist, a private investment firm recently started by former Macquarie Capital Markets Canada Ltd. banker Sandy Edmonstone, had argued that the company had taken on too much debt and was growing production without regard for shareholder return.

Crescent Point defended its strategy and harshly attacked Cation’s credibility, accusing Edmonstone of seeking a quick win at shareholders’ expense and saying the activist’s nominees had conflicts of interest.

Crescent Point shares rose 0.7 percent to C$10.46 at 12:48 p.m in Toronto.

To contact the reporters on this story: Kevin Orland in Calgary at korland@bloomberg.net, Scott Deveau in New York at sdeveau2@bloomberg.net.

To contact the editors responsible for this story: Reg Gale at rgale5@bloomberg.net, Carlos Caminada

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