News Focus
News Focus
Followers 149
Posts 11209
Boards Moderated 0
Alias Born 06/30/2005

Re: jeffz2 post# 211712

Monday, 03/22/2010 1:03:02 PM

Monday, March 22, 2010 1:03:02 PM

Post# of 326435
Read the proxy closely. According to the paragraph from Success's post that I linked earlier (which I have cut and pasted below) the proxy says that if you don't tell your broker how to vote by the 10th day preceding the meeting, the broker can then vote your shares as the broker sees fit on "routine" matters.

However, the proxy also says that none of the proposals are "routine", so it would follow that a broker cannot vote the shares on any of the proposals.

People who want to vote should be calling their brokers asap.


"If you hold your shares in “street name” through a broker or other nominee, and you do not tell the nominee by the tenth day preceding the Meeting, how to vote your shares, the nominee can vote them as it sees fit only on matters that are determined to be routine, and not on any other proposal. None of the matters presented in this Proxy Statement are “routine” items. If you do not give your broker or nominee specific instructions, your shares may not be voted on those matters and will not be counted in determining the number of shares necessary for approval. Shares represented by such “broker non-votes,” however, will be counted in determining whether there is a quorum. If you hold your shares in street name, you will need to bring a copy of a brokerage statement reflecting your stock ownership as of the Record Date and check in at the registration desk at the Meeting. If you intend to vote your street name shares in person at the Meeting, you will need to obtain a “Legal Proxy” from your brokerage firm."

Any legal analysis I post may not be relied upon by anyone for any
purpose. If you want legal advice you can rely on, hire a lawyer.


Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y