Independent Advisory Firm ISS Recommends Shareholders Vote FOR all Globecomm’s Proposals at the November 15th Shareholder M...
November 02 2012 - 4:03PM
Business Wire
Globecomm Systems Inc. (NASDAQ: GCOM), a leading communications
solutions provider, today announced that independent advisory firms
Institutional Shareholder Services (ISS) and Egan Jones have
recommended that Globecomm shareholders vote FOR all proposals at
Globecomm’s November 15th Annual Meeting and Glass Lewis
recommended that Globecomm shareholders FOR seven of the eight
director nominees and FOR all other proposals.
In recommending that shareholders vote FOR all proposals, ISS
noted, “Based on review and evaluation of company disclosures and
practices, ISS recommends support for all agenda items at this
meeting.”
“We are pleased that all three independent proxy advisory firms
support the amendment of the 2006 Stock Incentive Plan and the
executive compensation plan, and that the three firms are
supportive of the director nominees,” said Dave Hershberg,
Globecomm’s Chairman and CEO.
Glass Lewis recommends voting FOR seven of the eight Board
nominees, but recommends WITHHOLD on the chairman of the nominating
and corporate governance committee, because the Company has neither
appointed an independent chairman nor an independent lead or
presiding director.
In reviewing the executive compensation plan Glass Lewis stated:
“Globecomm Systems' executive compensation received an A grade in
our proprietary pay-for-performance model.”
The Globecomm Board reiterates its recommendation that
shareholders vote FOR all the proposals at the Company’s Annual
Meeting of Stockholders on November 15, 2012.
Stockholders of record of Globecomm as of September 21, 2012,
can vote in person at the Annual Meeting or by proxy in one of the
following three ways:
1. Vote by Mail: If you received your proxy
materials by mail, you can vote by mail by completing, signing,
dating and mailing the enclosed proxy card in the postage-paid
envelope.
2. Vote by Telephone: Call the toll-free
number 1-800-690-6903. You will need to provide the control number
printed on your proxy card, and follow the instructions on your
card and the voice prompts.
3. Vote over the Internet: Go to the website
www.proxyvote.com. You will need to provide the control number
printed on your proxy card, and follow the instructions on your
card and the website.
Stockholders that vote by telephone or over the Internet, should
not return the proxy card. Shareholders that hold Globecomm common
stock through a bank or broker will receive instructions from the
record holder asking you how you wish to vote. Telephone and
Internet voting will be offered by most brokers and banks.
Globecomm stockholders who have questions about the proposals to
be voted on at the Annual Meeting, or would like additional copies
of the proxy statement or additional proxy cards, may contact
Globecomm’s proxy solicitors, Alliance Advisors, LLC:
973.873.7700.
About Globecomm Systems
Globecomm Systems Inc., (“we”, “our”, “us” or “Globecomm”), is a
leading global communications solutions provider. Employing our
expertise in emerging communication technologies, including
satellite and other transport mediums, we are able to offer a
comprehensive suite of system integration, system products, and
network services enabling a complete end-to-end solution for our
customers. We believe our integrated approach of in-house design
and engineering expertise combined with a world-class global
network and our 24 by 7 network operating centers provides us a
unique competitive advantage. We focus this value proposition to
selective vertical markets, including government, wireless, media,
enterprise, and maritime. As a communications solutions provider we
leverage our global network to provide customers managed access
services to the United States Internet backbone, video content, the
public switched telephone network or their corporate headquarters,
or government offices. We currently have customers for which we are
providing such services in the United States, Europe, South
America, Africa, the Middle East, and Asia.
Based in Hauppauge, New York, Globecomm Systems also maintains
offices in Maryland, New Jersey, Virginia, the Netherlands, South
Africa, Hong Kong, Germany, Singapore, the United Arab Emirates and
Afghanistan.
This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward looking statements are
based on management's current expectations and observations. You
should not place undue reliance on our forward-looking statements
because the matters they describe are subject to certain risks,
uncertainties and assumptions that are difficult to predict. Our
forward-looking statements are based on the information currently
available to us and speak only as of the date of this press
release. Over time, our actual results, performance or achievements
may differ from those expressed or implied by our forward-looking
statements, and such difference might be significant and materially
adverse to our security holders.
We have identified some of the important factors that could
cause future events to differ from our current expectations and
they are described in our most recent Annual Report on Form 10-K,
including without limitation under the captions ''Risk Factors''
and ''Management's Discussion and Analysis of Financial Condition
and Results of Operations,'' and in other documents that we may
file with the SEC, all of which you should review carefully. Please
consider our forward-looking statements in light of those risks as
you read this press release.
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