Keweenaw Land Association Final Election Results

Corporate Election Services, Inc. today released their certification of election results of the Keweenaw Land Association, Limited (KEWL: Pink Sheets) 2010 Annual Shareholder meeting held May 24, 2010 in Ironwood, Michigan. As reported earlier, those results confirmed the re-election of Mr. John E. Earhart and Ms. Marjorie E. Nesbitt, to new three-year terms on the Keweenaw Board of Directors and the defeat of dissident candidates Mr. Ronald S. Gutstein and Mr. Scott Frisoli. The voting report indicated that incumbent directors John E. Earhart and Marjorie E. Nesbitt received votes representing 325,780 shares and 317,980 shares, respectively. Ronald Gutstein and Scott Frisoli received votes representing 176,231 shares and 154,187 shares, respectively. A measure to approve the Company’s auditors, Anderson, Tackman and Company, was approved, receiving the votes of 324,689 shares.

Three shareholder proposals submitted by Mr. Gutstein were defeated. A measure to amend Article IX of the Company’s Bylaws received votes of 327,109 shares against the proposal and 187,788 shares for the proposal. A measure to amend the Company’s Bylaws to require registration under the Securities Exchange Act of 1934 received votes of 389,188 shares against the proposal and 124,835 shares for the proposal. And a measure to amend Article X of the Company’s Articles of Incorporation received votes of 320,186 shares against the proposal and 194,736 shares for the proposal. 645,315 shares of the Company’s common stock were issued and outstanding on March 29, 2010, the record date for the annual meeting. 516,511 shares were represented in person or by proxy at the meeting.

Keweenaw Land Association, Limited, a Michigan corporation, owns and manages in excess of 161,000 acres of timberland and over 400,000 acres of mineral rights. For further information about Keweenaw or this article, contact Robert M. Davenport at (906) 932-3410.

Keweenaw Land Association (PK) (USOTC:KEWL)
Historical Stock Chart
From Nov 2024 to Dec 2024