ModusLink Global Solutions™, Inc. (NASDAQ: MLNK) reminds stockholders
that the 2013 Annual Meeting of Stockholders will reconvene on January
15, 2014 for the purposes of voting on Proposal 2, the Declassification
of the Board of Directors.
ModusLink Global Solutions, Inc. (the “Company”) held its 2013 Annual
Meeting of Stockholders (the “Annual Meeting”) on December 18, 2013. The
proposals considered at the Annual Meeting are described in detail in
the Company’s definitive proxy statement for the Annual Meeting as filed
with the Securities and Exchange Commission (the “SEC”) on October 29,
2013.
At the Annual Meeting, the Company’s stockholders voted on and approved
the following proposals found in the Proxy Statement: (i) Proposal No. 1
elect Anthony Bergamo as a Class II Director and (ii) Proposal No. 3 to
approve, on an advisory basis, the compensation paid to the Company’s
named executive officers as reported in the Proxy Statement. The results
of the voting on these proposals are described in more detail in the
Company’s Current Report on Form 8-K filed with the SEC on December 18,
2013.
The Company adjourned the Annual Meeting to allow for additional time
for stockholders to vote on Proposal 2, amendment of the Company’s
Restated Certificate of Incorporation to declassify the Board of
Directors. Proposal 2 would eliminate the classification of the Board
and provide instead for the annual election of Directors commencing with
the Company’s 2014 annual meeting of stockholders. Under the Company’s
By-laws, this proposal requires the affirmative vote of 75% of shares
outstanding. Accordingly all stockholder votes are very important.
The Company and its Board of Directors believe that the declassification
of the Board of Directors represents good corporate governance and is in
the best interests of the Company and its stockholders. The Company
urges stockholders to vote “FOR” Proposal No. 2 at the adjourned Annual
Meeting when it is reconvened on January 15, 2014 at 9:00 a.m. at the
offices of Olshan Frome Wolosky LLP, located at 65 East 55th Street, New
York, NY 10022.
Please vote your proxy today. If you need any assistance in voting,
please call our proxy solicitor, MacKenzie Partners, Inc., at
(212) 929-5500 or toll-free at (800) 322-2885 or via email at proxy@mackenziepartners.com.
Stockholders are urged to contact MacKenzie Partners today so they can
assist in processing stockholder votes on this very important matter.
This information is being provided to stockholders in addition to
ModusLink’s definitive proxy statement, filed with the Securities and
Exchange Commission (the “SEC”) on October 29, 2013. Copies of
ModusLink’s definitive proxy statement and any other materials filed by
the Company with the SEC can be obtained free of charge at the SEC’s
website at www.sec.gov
or from the Company’s website at www.moduslink.com.
Please read the complete proxy statement, the accompanying materials and
any additional proxy soliciting materials that ModusLink may file with
the SEC carefully before you make a voting decision as they contain
important information. Only stockholders who held the Company’s common
stock as of the record date of October 21, 2013 are eligible to vote.
ModusLink, its directors and certain of its executive officers may be
deemed to be participants in the solicitation of proxies from
stockholders. Detailed information regarding the identity of the
potential participants, and their direct or indirect interests, by
security holdings or otherwise, is set forth in ModusLink’s definitive
proxy statement.
About ModusLink Global Solutions
ModusLink Global Solutions, Inc. (NASDAQ: MLNK) executes comprehensive
supply chain and logistics services that are designed to improve
clients’ revenue, cost, sustainability and customer experience
objectives. ModusLink is a trusted and integrated provider to the
world’s leading companies in consumer electronics, communications,
computing, medical devices, software and retail. The Company’s operating
infrastructure annually supports more than $80 billion of its clients’
revenue and manages approximately 451 million product shipments through
more than 25 sites across North America, Europe, and the Asia/Pacific
region. For details on ModusLink’s flexible and scalable solutions visit www.moduslink.com
and www.valueunchained.com,
the blog for supply chain professionals.
ModusLink Global Solutions is a registered trademark of ModusLink Global
Solutions, Inc. All other company names and products are trademarks or
registered trademarks of their respective companies.
This release contains forward-looking statements, which address a
variety of subjects. All statements other than statements of historical
fact, including without limitation, those with respect to the Company’s
goals, plans, expectations and strategies set forth herein are
forward-looking statements. The following important factors and
uncertainties, among others, could cause actual results to differ
materially from those described in these forward-looking statements: the
Company’s ability to execute on its business strategy, including its
cost reduction plans and the continued and increased demand for and
market acceptance of its services, which could negatively affect the
Company’s ability to meet its revenue, operating income and cost savings
targets, maintain and improve its cash position, expand its operations
and revenue, lower its costs, improve its gross margins, reach and
sustain profitability, reach its long-term objectives and operate
optimally; uncertainties and volatility relating to global economic
conditions, especially in the technology sector; unanticipated declines
in, or failure to achieve the anticipated levels of, the demand for our
clients’ products; potential strains on managerial and operational
resources resulting from expanded operations; failure to realize
expected benefits of restructuring and cost-cutting actions; inability
to expand operations in accordance with the Company’s business strategy;
insufficient cash balances that could prevent the Company from meeting
business or investment goals; difficulties integrating technologies,
operations and personnel in accordance with the Company’s business
strategy; customer losses; demand variability in supply chain management
clients, to which the Company sells on a purchase order basis rather
than pursuant to contracts with minimum purchase requirements; risks
inherent with conducting international operations; changes in tax rates
in jurisdictions where profits are determined to be earned and taxed;
changes in estimates of tax credits, benefits and deductions;
unfavorable resolution of issues arising from tax audits with various
tax authorities, including payment of interest and penalties and the
ability to realize deferred tax assets; adverse conditions in the
mergers and acquisitions or IPO markets, which could prevent liquidity
for securities in the Company’s venture capital portfolio; and increased
competition and technological changes in the markets in which the
Company competes. For a detailed discussion of cautionary statements
that may affect the Company’s future results of operations and financial
results, please refer to the Company’s filings with the Securities and
Exchange Commission, including the Company’s most recent Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q. Forward-looking
statements represent management’s current expectations and are
inherently uncertain. We do not undertake any obligation to update
forward-looking statements made by us.
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