PFSweb Announces Approval of All Company Proposals at Annual Meeting of Stockholders
June 15 2007 - 4:05PM
Business Wire
PFSweb, Inc. (Nasdaq: PFSW), a global provider of integrated
business process outsourcing (BPO) and web commerce solutions,
today announced that all corporate proposals were approved at the
Company�s 2007 Annual Meeting of Stockholders held on June 15,
2007. Stockholders approved the election of one Class II Director,
Dr. Neil W. Jacobs. Stockholders also approved the proposal to
grant the Board of Directors discretionary authority to effect a
reverse split of PFSweb�s outstanding common stock by a ratio of no
change to up to one-for-six and grant the Company�s Board the
discretionary authority to determine the exact ratio within that
range. Stockholders approved the amendment to the Company�s
Non-Employee Director Stock Option and Retainer Plan. Finally,
stockholders ratified the appointment of KPMG LLP as the Company�s
independent auditors for the fiscal year ending December 31, 2007.
About PFSweb, Inc. PFSweb develops and deploys integrated business
infrastructure solutions and fulfillment services for Fortune 1000,
Global 2000 and brand name companies, including third party
logistics, call center support and e-commerce services. The company
serves a multitude of industries and company types, including such
clients as LEGO, Riverbed, Fathead, CHiA�SSO, FLAVIA� Beverage
Systems, Hewlett-Packard, International Business Machines, Hawker
Beechcraft Corp. (formerly Raytheon Aircraft Company), Rene
Furterer USA, Roots Canada Ltd., and Xerox. Through its wholly
owned eCOST.com subsidiary, PFSweb also serves as a leading
multi-category online discount retailer of new, "close-out" and
manufacturer recertified brand-name technology and consumer
electronics for consumers and small to medium size business buyers.
The eCOST.com brand markets approximately 75,000 different products
from leading manufacturers such as Apple, Canon, Citizen, Denon,
Hewlett-Packard, Nikon, Onkyo, Seiko, Sony, and Toshiba primarily
over the Internet and through direct marketing. To find out more
about PFSweb, Inc. (NASDAQ: PFSW), visit the company's websites at
http://www.pfsweb.com and http://www.ecost.com. The matters
discussed herein consist of forward-looking information under the
Private Securities Litigation Reform Act of 1995 and is subject to
and involves risks and uncertainties, which could cause actual
results to differ materially from the forward-looking information.
PFSweb's Annual Report on Form 10-K for the year ended December 31,
2006 identify certain factors that could cause actual results to
differ materially from those projected in any forward looking
statements made and investors are advised to review the Annual and
Quarterly Reports and the Risk Factors described therein. PFSweb
undertakes no obligation to update publicly any forward-looking
statement for any reason, even if new information becomes available
or other events occur in the future. There may be additional risks
that we do not currently view as material or that are not presently
known.
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