KNOXVILLE, Tenn., June 24, 2011 /PRNewswire/ -- Tengasco, Inc.
(NYSE Amex: TGC) announced today that the Annual Meeting of
Stockholders of Tengasco, Inc. was held on June 20, 2011 for the purpose of the election of
five nominated directors to the Board of Directors; the
ratification of the appointment of Rodefer Moss & Co, PLLC as
the company's independent registered public accounting firm for the
fiscal year ending December 31, 2011,
and consideration of a proposition to change the state of
incorporation of the company from Tennessee to Delaware. Exact voting totals are
contained in the Form 8-K filed today with the Securities and
Exchange Commission.
Each of the five nominated incumbent directors was reelected,
being Jeffrey R. Bailey,
Matthew K. Behrent, Hughree F.
Brooks, John A. Clendening, and
Peter E. Salas. Each nominee was
reelected by approximately 95% of shares voting for and 5%
withheld. The appointment of Rodefer Moss & Co, PLLC as
auditor was ratified by approximately 90% of the shares voting in
favor of the ratification.
The proposal to approve changing the state of incorporation of
the Company from Tennessee to
Delaware was approved by over 99%
of the shares voting.
The change of state of incorporation of the Company from
Tennessee to Delaware has been completed by appropriate
filings and the Company is now a Delaware corporation. This change will
not result in any changes in the assets, operations or management
of the Company. The Company will continue to be a publicly-held
company and the change in state of incorporation will not change
the positions under federal securities laws of the Company or its
stockholders. The Company's common stock will continue trading,
uninterrupted, under the symbol TGC on the NYSE AMEX Equities
Exchange. There will be no change in the percentage of
beneficial ownership of each current stockholder of the common
stock as a result of the change in state of incorporation. The
holding period of a stockholder of the Company's common stock will
not be affected by the change in state of incorporation. The
delivery of current stock certificates will constitute "good
delivery" of common stock in connection with stock transactions
after the change in state of incorporation. Stockholders do not
need to exchange their stock certificates for new stock
certificates, but they may elect to do so. Stockholders if
interested in exchanging their stock certificates should contact
the company's transfer agent at Continental Stock Transfer &
Trust Company, 17 Battery Place, New
York, New York 10004.
SOURCE Tengasco, Inc.