LSB Industries' Stockholders Overwhelmingly Approve Preferred Stock Exchange Transaction
A total of 20.4 million common shares of the 27.1 million common shares issued (excluding those common shares held by Eldridge) at the record date of
The final voting results of the proposals submitted to a vote of the stockholders at the special meeting are as follows:
Proposal 1 – Approval of the
For |
% of Votes
|
Against |
Abstain |
Total |
||||
20,131,731 |
|
98.9% |
|
200,361 |
|
26,362 |
|
20,358,454 |
Proposal 2 – Increase Authorized Common Stock: To consider and vote upon a proposal to amend the Company’s restated certificate of incorporation to increase the number of authorized shares of the Company’s common stock to 150,000,000 shares of common stock.
For |
% of Votes
|
Against |
Abstain |
Total |
||||
20,195,541 |
|
99.2% |
|
137,066 |
|
25,847 |
|
20,358,454 |
Proposal 3 – Approve Dividend Rights Amendment to the Certificate of Designations of Series E-1 Preferred: To consider and vote upon a proposal to amend the Certificate of Designations of the Series E-1 Preferred to revise the preferential rights of holders of shares of Series E-1 Preferred to eliminate the right to participate in connection with the declaration of the proposed common stock dividend with respect to the Company’s common stock.
For |
% of Votes
|
Against |
Abstain |
Total |
||||
20,222,305 |
|
99.3% |
|
130,283 |
|
5,866 |
|
20,358,454 |
Proposal 4 – Adjourn Meeting: To consider and vote upon any proposal to approve adjournments of the special meeting, if necessary, to permit further solicitation of proxies if there are not sufficient votes at the time of the special meeting to approve and adopt Proposals Nos. 1, 2 and 3. Although Proposal 4 was approved, the adjournment of the special meeting was not necessary because the Company’s stockholders approved Proposals 1, 2 and 3.
For |
% of Votes
|
Against |
Abstain |
Total |
||||
20,033,151 |
|
98.4% |
|
318,399 |
|
6,904 |
|
20,358,454 |
About
About
Forward-Looking Statements
Statements in this release that are not historical are forward-looking statements within the meaning of the
Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for our management to predict all risks and uncertainties, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Unless otherwise required by applicable laws, we undertake no obligation to update or revise any forward-looking statements, whether because of new information or future developments.
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Company Contact:
(405) 510-3524
(405) 510-3550
fbuonocore@lsbindustries.com
Source: