BETHESDA, Md., April 14, 2020 /PRNewswire/ -- Centrus
Energy Corp. (NYSE American: LEU) today announced that on
April 13, 2020 it entered into a
Voting and Nomination Agreement with Mr. Morris Bawabeh, Kulayba LLC and M&D Bawabeh
Foundation, Inc., (MB Group) who collectively are beneficial owners
of approximately 18.1% of the outstanding shares of Class A common
stock as of the date of the Voting Agreement.
Pursuant to the terms of the Voting Agreement, the Company
agreed to nominate Mr. Michael
O'Shaughnessy for election to the Board and to use
commercially reasonable efforts to cause the election of Mr.
O'Shaughnessy to the Board.
The MB Group agreed to cause to be present at the Annual Meeting
all shares of Class A common stock for which the MB Group is the
beneficial owner and vote such shares in accordance with
management's recommendations set forth in the company's proxy
statement and to vote for the full slate of directors nominated by
the Company at the Company's 2021 annual meeting of stockholders,
provided that Mr. O'Shaughnessy is included in the slate of
directors nominated by the Company. If Mr. O'Shaughnessy
withdraws from the Board or is unable to, refuses to, or otherwise
does not consent to be nominated to serve on the Board, the MB
Group may designate a replacement reasonably acceptable to the
Company to be included as a nominee for election to the Board in
2021; in any event, the MB Group shall remain obligated to cause
all beneficially owned shares of our Class A common stock to be
present at the 2021 annual meeting and to vote for the Company's
full slate of nominees. The Company's Compensation, Nominating and
Governance Committee has reviewed the qualifications of Mr.
O'Shaughnessy in connection with his nomination this year.
For additional details regarding the terms of the Voting
Agreement, including a copy of the Voting Agreement, please see the
Current Report on Form 8-K that we filed with the SEC on
April 14, 2020.
About Centrus Energy
Centrus Energy is a trusted supplier of nuclear fuel and
services for the nuclear power industry. Centrus provides value to
its utility customers through the reliability and diversity of its
supply sources – helping them meet the growing need for clean,
affordable, carbon-free electricity. Since 1998, the Company has
provided its utility customers with more than 1,750 reactor years
of fuel, which is equivalent to 7 billion tons of coal. With
world-class technical and engineering capabilities, Centrus is also
advancing the next generation of centrifuge technologies so that
America can restore its domestic uranium enrichment capability in
the future. Find out more at www.centrusenergy.com.
Forward-Looking Statements
This news release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934 –
that is, statements related to future events. In this context,
forward-looking statements may address our expected future business
and financial performance, and often contain words such as
"expects", "anticipates", "intends", "plans", "believes", "will",
"should", "could", "would" or "may" and other words of similar
meaning. Forward-looking statements by their nature address matters
that are, to different degrees, uncertain. For Centrus Energy
Corp., particular risks and uncertainties that could cause our
actual future results to differ materially from those expressed in
our forward-looking statements include risks related to the limited
trading markets in our securities; risks related to our ability to
maintain the listing of our Class A Common Stock on the NYSE
American LLC (the "NYSE American"); risks related to decisions made
by our Class B stockholders and our Series B Senior Preferred
stockholders regarding their investment in the Company based upon
factors that are unrelated to the Company's performance; risks
related to the Company's capital concentration; and other risks and
uncertainties discussed in our filings with the Securities and
Exchange Commission, including under Part 1. Item1A – "Risk
Factors" in our Annual Report on Form 10-K for the year ended
December 31, 2019 and quarterly
reports on Form 10-Q.
Contacts:
Media: Lindsey Geisler, (301)
564-3392, GeislerLR@centrusenergy.com
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SOURCE Centrus Energy Corp.