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8-K - FORM 8-K - ASTROTECH Corp | d81618e8vk.htm |
Exhibit 99.1
Astrotech Corporation 401 Congress, Suite 1650 Austin, Texas 78701 512.485.9530 fax: 512.485.9531 www.astrotechcorp.com |
FOR IMMEDIATE RELEASE
ASTROTECH ANNOUNCES RESULTS OF ANNUAL MEETING OF SHAREHOLDERS
Austin, Texas, April 26, 2011 Astrotech Corporation (NASDAQ: ASTC), a leading provider of
commercial aerospace services, today announced the results of the Companys Annual Meeting of
Shareholders held on April 20, 2011.
The shareholders of the Companys common stock elected six directors to the Companys Board of
Directors. The Board of Directors now consists of Thomas B. Pickens III, Mark E. Adams, John A.
Oliva, William F. Readdy, Sha-Chelle Manning and Daniel T. Russler, Jr.
In addition to electing the board of directors, Astrotech shareholders ratified the appointment of
Ernst & Young, LLP as independent auditors for the Company, approved the Astrotech Corporation 2011
Stock Incentive Plan, and approved reincorporation from Washington state to Delaware. Although the
Company obtained approval from the holders of the required number of shares to approve the
reincorporation, the holders of certain shares have asserted dissenters rights under Washington
law. If the reincorporation is effected, the Company may be required to pay these dissenting
shareholders the fair value of their shares. In light of this, the Board of Directors of the
Company has determined that, unless the assertion of dissenters rights is withdrawn, the
reincorporation should not be effected at this time.
Tabular presentation of the voting results from the Annual Meeting of Shareholders follows the text
of this press release.
About Astrotech Corporation
Astrotech is one of the first space commerce companies and remains a strong entrepreneurial
force in the aerospace industry. We are leaders in identifying, developing and marketing space
technology for commercial use. Our Astrotech Space Operations (ASO) business unit serves our
government and commercial satellite and spacecraft customers with pre-launch services on the
eastern and western range. 1st Detect Corporation is developing what we believe is a breakthrough
miniature chemical detector, while Astrogenetix, Inc. is a biotechnology company utilizing
microgravity as a research platform for drug discovery and development.
This press release contains forward-looking statements that are made pursuant to the Safe
Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, trends, and uncertainties that could cause actual results to be
materially different from the forward-looking statement. These factors include, but are not limited
to, continued government support and funding for key space programs, product performance and market
acceptance of products and services, as well as other risk factors and business considerations
described in the companys Securities & Exchange Commission filings including the annual report on
Form 10-K. Any forward-looking statements in this document should be evaluated in light of these
important risk factors. The Company assumes no obligation to update these forward-looking
statements.
FOR MORE INFORMATION:
Scott Haywood
Corporate Marketing and Communications
Astrotech Corporation
512-485-9520
shaywood@astrotechcorp.com
Scott Haywood
Corporate Marketing and Communications
Astrotech Corporation
512-485-9520
shaywood@astrotechcorp.com
Tables Follow
ASTROTECH CORPORATION
16,220,550 shares or 83.8% of the Companys Common Stock were present in person or by proxy at the
meeting.
Proposal 1 Election of the individuals nominated to serve as directors of the Company
Director | Votes For | Votes Withheld | Broker Non Votes | |||||||||
Thomas B. Pickens III |
8,892,600 | 1,668,053 | 5,641,031 | |||||||||
Mark E. Adams |
8,849,648 | 1,711,005 | 5,641,031 | |||||||||
John A. Oliva |
8,922,421 | 1,638,232 | 5,641,031 | |||||||||
William F. Readdy |
8,928,854 | 1,631,799 | 5,641,031 | |||||||||
Sha-Chelle Manning |
8,919,256 | 1,641,397 | 5,641,031 | |||||||||
Daniel T. Russler, Jr. |
9,029,591 | 1,531,062 | 5,641,031 |
Proposal 2 Ratification of appointment of Ernst & Young, LLP as independent auditor for the Company |
For Ratification
|
Against Ratification | Abstain from Voting | Broker Non Votes | |||
14,906,658 | 66,373 | 1,228,653 | 0 |
Proposal 3 Approving the Astrotech Corporation 2011 Stock Incentive Plan |
For Ratification | Against Ratification | Abstain from Voting | Broker Non Votes | |||
6,157,701 | 3,162,278 | 1,240,673 | 5,641,032 |
Proposal 4 Approving reincorporation for Washington state to Delaware |
For Ratification | Against Ratification | Abstain from Voting | Broker Non Votes | |||
13,464,863 | 1,453,313 | 1,287,005 | 14,503 |
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