Keweenaw Land Association Announces Final Election Results
May 19 2011 - 9:00AM
Business Wire
Keweenaw Land Association, Limited (KEWL: Pink sheets) today
announced the final election results from its 2011 Annual
Shareholder Meeting held May 16, 2011 in Ironwood, Michigan. Those
results, certified by Corporate Election Services, indicate the
re-election of Mr. David Ayer and Mr. Donald J. Hoffman, to new
three-year terms on the Keweenaw Board of Directors by an
overwhelming margin. In this year’s proxy contest, nearly 86% of
outstanding shares were voted. For the fourth straight year,
dissident candidate, Ronald S. Gutstein, was defeated, garnering
less than 25% of the outstanding shares. Mr. Gutstein did not
attend this year’s Annual Meeting. The Company also announced the
approval of the two shareholder proposals submitted by the Keweenaw
Land Association Board of Directors, approval of Anderson, Tackman
& Company as auditors for 2011, and the increase in authorized
shares from 2,500,000 to 10,000,000.
About Keweenaw Land Association, Limited: Keweenaw is a forest
products and land management company located in Ironwood, Michigan.
Keweenaw has land holdings of approximately 161,000 surface acres
and over 400,000 acres of mineral rights, located predominantly in
the western Upper Peninsula of Michigan. Keweenaw shares trade in
the pink sheets with 1,291,490 shares outstanding.
Keweenaw Land Association (PK) (USOTC:KEWL)
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