September 24, 2021
Special Meeting of Preferred Shareholders: 11:30am (local)
Sheraton Milwaukee Brookfield Hotel
375 S. Moorland Road
Brookfield, Wisconsin
Teleconference*: (800) 437-2398
Confirmation Code: 6581971
CIB Marine’s Second Amended and Restated Articles of Incorporation have been approved.
CIB Marine’s common and preferred shareholders voted to approve the adoption of the Amended & Restated Articles of Incorporation at their respective meetings held on September 24, 2021. Of votes cast, 95% common and 100% preferred were in favor of adoption of the amended articles. This action clears the way for the commencement of preferred stock mandatory redemptions as outlined in the Proxy Statements issued in connection with the meetings.
All four of the Company’s candidates nominated to its Board of Directors were also reelected. Messrs. Mark Elste, Mark Henderson, Charles Mires, and Ron Rhoades will all serve an additional three-year term.
The Company will now move forward with the $18 million initial redemption of pro-rata preferred shares, which is expected to occur in October. All redemptions will be at a price of $825 per share, for both A and B shares, which is a 3% discount to the carrying value, and a 17.5% discount to liquidation preference value.
Meeting Materials
|
Document Description |
|
| September 24, 2021 |
Press Release |
|
| September 24, 2021 |
Special Meeting - Final Voting Results |
|
| August 13, 2021 |
Proxy Statement |
|
| July 29, 2021 |
Shareholder Letter |
|
| July 26, 2021 |
Press Release |
|
|
