DALLAS, Nov. 19, 2009 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced the preliminary results of its annual meeting of stockholders held earlier today. The Company had solicited stockholder support on three proposals and its stockholders approved each of the Company's three proposals. Based upon preliminary information, at the meeting the Company's stockholders re-elected two directors, Mr. Sherrill Stone and Mr. Peter Burlage. The Company's stockholders also approved a proposal to amend the Company's Second Amended and Restated Certificate of Incorporation to increase the authorized common stock from 25 million shares to 50 million shares. Finally, the stockholders approved the Company's proposal to permit the potential issuance of shares of common stock in excess of 19.99% of the Company's outstanding common stock upon the conversion or redemption of, or dividend or liquidation payments on, the Company's Series A Convertible Preferred Stock, which was issued to certain investors on September 4, 2009.
Peter J. Burlage, Chief Executive Officer of the Company, commented,"We are pleased that our stockholders supported all of our proposals by significant margins."
The results reported in this press release are preliminary and subject to post-meeting confirmation. Final results will be available in PMFG's Quarterly Report on Form 10-Q for the period ending December 31, 2009, to be filed with the Securities and Exchange Commission.
About PMFG, Inc.
We are a leading provider of custom engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. We primarily serve the markets for power generation, natural gas infrastructure and petrochemical processing. Headquartered in Dallas, Texas, we market our systems and products worldwide.
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Safe Harbor Under The Private Securities Litigation Reform Act of 1995
Certain statements contained in this press release that are not historical facts are forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that could cause the actual results to be materially different from those expressed or implied by such forward-looking statements. The words "anticipate," "preliminary," "expect," "believe," "intend" and similar expressions identify forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for these forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in these forward-looking statements. These risks and uncertainties that may affect the Company's results include the ability to realize the expected benefits of the amendment to the certificate of incorporation to authorize additional common stock and the potential issuance of shares of common stock in excess of 19.99% of the Company's outstanding common stock; and the Company's ability to execute its plans and strategies. Other important information regarding factors that may affect the Company's future performance is included in the public reports that the Company files with the Securities and Exchange Commission, including the information under Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2009. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this release, or to reflect the occurrence of other events. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material.