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1 Year : From Dec 2018 to Dec 2019
The Trustees of Mesabi Trust (NYSE: MSB) today announced that a quorum
was present at its Special Meeting of Trust Certificate Holders, which
was convened on December 20, 2018 (the “Special Meeting”), and that the
Special Meeting has been adjourned until 11:00 A.M., Central Time, on
Wednesday, January 23, 2019 at the offices of Fox Rothschild LLP, 222
South Ninth Street, Suite 2000, Minneapolis, Minnesota 55402 to allow
additional time for further solicitation of proxies for the Special
During the adjournment period, the Trustees of Mesabi Trust will
continue to solicit proxies from its Trust Certificate Holders
requesting approval of Proposal 1 (the appointment of Robin M. Radke as
an individual trustee of Mesabi Trust to succeed Richard G. Lareau, who
is retiring) and Proposal 2 (the approval of an amendment to the
Agreement of Trust which would increase the minimum compensation payable
to each individual Trustee and the Corporate Trustee). These Proposals
are described in further detail in the proxy statement filed with the
Securities and Exchange Commission on November 9, 2018. No changes have
been made in the proposals to be voted on by unitholders at the Special
Meeting. The Trust's proxy statement and any other materials filed by
the Trust with the SEC remain unchanged and can be obtained free of
charge at the SEC's website at www.sec.gov.
Proposal 3 to approve James A. Ehrenberg as Chairman and Jeffrey
Schoenfeld as Secretary of the Special Meeting, and Proposal 4 to
authorize a motion to adjourn the Special Meeting received the requisite
votes and were approved at the Special Meeting. Accordingly, the Trust
will not be soliciting further proxies for these proposals.
Only holders of record of units of beneficial interest of Mesabi Trust
at the close of business on November 9, 2018, the record date, are
entitled to notice of, and to vote at, the adjourned Special Meeting. If
a unitholder has previously submitted its proxy card and does not wish
to change its vote, no further action is required by such holder.
The Trustees encourage all unitholders that have not yet voted to vote
their units by 11:59 p.m., Eastern Time, on Tuesday, January 22, 2019.
If you have not voted, or have misplaced your proxy materials or are
uncertain if you have voted all the shares you are entitled to vote
please see "How You Can Vote," below. Every single vote counts.
How You Can Vote?
If your Units are registered in your name, you may vote your Units in
person at the Special Meeting by one of the following methods:
Use the Internet to transmit your voting instructions and for
electronic delivery of information. Vote by 11:59 P.M. ET on
January 22, 2019. Have your proxy card in hand when you access the
web site and follow the instructions to obtain your records and to
create an electronic voting instruction form.
Use any touch-tone telephone to transmit your voting instructions.
Vote by 11:59 P.M. ET on January 22, 2019. Have your proxy card in
hand when you call and then follow the instructions.
Mark, sign and date your proxy card and return it in the
postage-paid envelope we have provided or return it to Vote
Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.
If your Units are held in "street name," you may receive a separate
voting instruction form with this proxy statement or you may need to
contact your broker, bank or other nominee to determine whether you will
be able to vote electronically using the Internet, telephone or mobile
THE TRUSTEES UNANIMOUSLY RECOMMEND THAT TRUST CERTIFICATE HOLDERS
VOTE “FOR” THE APPOINTMENT OF MS. RADKE AS
AN INDIVIDUAL TRUSTEE OF THE TRUST AND “FOR”
THE PROPOSED AMENDMENT TO THE AGREEMENT OF TRUST.
Favorable ISS and Glass Lewis Recommendations.
Both Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co.
(“Glass Lewis”)(1), the two leading independent proxy advisory firms
whose recommendations are relied upon by major institutional investment
firms and other institutional shareholders, have recommended that Mesabi
Trust Unitholders vote “FOR” all four of the Trustee’s proposals at the
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
This press release contains certain forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995. These
statements are based on Mesabi Trust’s current expectations and involve
risks and uncertainties, which may cause results to differ materially
from those set forth in the statements. The forward-looking statements
may include statements regarding actions to be taken by the Trustees of
Mesabi Trust, as well as the Trust’s expectations for the outcome of the
votes at the upcoming Special Meeting. Mesabi Trust undertakes no
obligation to publicly update forward-looking statements, whether as a
result of new information, future events or otherwise. Forward-looking
statements should be evaluated together with the many uncertainties that
affect Mesabi Trust, particularly those mentioned in the risk factors in
Item 1A of our annual report on Form 10-K for the fiscal year ended
January 31, 2018 and in our periodic reports on Form 10-Q.
Important Additional Information and Where You Can Find It
The Trustees may be deemed to be participants in a solicitation of
proxies in connection with the matters to be considered at the Special
Meeting. Information regarding the names of Mesabi Trust’s Trustees and
their respective interests in the Trust is set forth in the Trust’s
definitive Proxy Statement for the Special Meeting, filed with the SEC
on November 9, 2018 and other reports filed by the Trust. These
documents are available free of charge at the SEC’s website at www.sec.gov
and on the website of Mesabi Trust at www.mesabi-trust.com.
THE TRUSTEES URGE MESABI TRUST UNITHOLDERS TO CAREFULLY READ THE
DEFINITIVE PROXY STATEMENT ACCOMPANYING THE WHITE PROXY CARDS AND ANY
OTHER RELEVANT DOCUMENTS THAT THE TRUST MAY FILE WITH THE SEC, BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION. Copies of the definitive
proxy statement, any solicitation materials and any other documents
filed by Mesabi Trust with the SEC are available free of charge at the
SEC’s website at www.sec.gov.
These documents will also be made available free of charge by contacting
the Trust’s proxy solicitor, Georgeson LLC, toll free at 1-866-628-6079.
__________________________(1) Permission to reference these
reports was neither sought nor obtained.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181221005556/en/
Mesabi Trust SHR Unit:Deutsche Bank Trust Company Americas904-271-2520
Solicitation Agent:Georgeson LLC1-866-628-6079