American Vanguard Corp. (NYSE:AVD) announced the results of its 2015
Annual Shareholders’ Meeting held on June 3, 2015. All three ballot
measures that appeared in the Company’s 2015 proxy passed, including (i)
re-election of eight nominees (namely, Scott D. Baskin, Lawrence S.
Clark, Debra F. Edwards, Morton D. Erlich, Alfred F. Ingulli, John L.
Killmer, Eric G. Wintemute, and M. Esmail Zirakparvar) to the Company’s
board of directors; (ii) ratification of the appointment of BDO USA LLP
as the Company’s independent outside public accounting firm for the year
ending December 31, 2015; and (iii) the advisory vote approving the
Company’s executive compensation policies and procedures. In addition,
at its meeting held on June 4, 2015, the Company’s board of directors
chose not to declare a cash dividend.
Eric Wintemute, Chairman and CEO of American Vanguard, stated, “We are
pleased with the outcome of our 2015 Annual Shareholders’ Meeting and
thank all of you for your continued support and for casting your
ballots. Also, having just completed the Hyvar/Krovar and Nemacur
acquisitions, we believe that it is in our investors’ best interests
that we conserve cash and closely manage working capital as we work
through challenging market conditions. For that reason, we have chosen
not to declare a cash dividend at this time. We will, of course, revisit
this issue next quarter.” Further details of the annual meeting results
will appear in the Company’s public filings.
About American Vanguard
American Vanguard Corporation is a diversified specialty and
agricultural products company that develops and markets products for
crop protection and management, turf and ornamentals management and
public and animal health. American Vanguard is included on the Russell
2000® & Russell 3000® Indexes and the Standard & Poors Small Cap 600
Index. To learn more about American Vanguard, please reference the
Company’s web site at www.american-vanguard.com.
In its public commentary, the Company may discuss forward-looking
information. Except for the historical information contained in this
release, all forward-looking statements are estimates by the Company’s
management subject to various risks and uncertainties that may cause
results to differ from management’s current expectations. Such factors
include weather conditions, changes in regulatory policy and other risks
as detailed in the Company’s SEC reports and filings. All
forward-looking statements, if any, in this release represent the
Company’s judgment as of the date of this release.
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