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|Globecomm Responds to Shareholder Requests to Sell the Company|
Recommends Shareholders Vote FOR All Proposals, Including Non-Executive Board Nominees
Globecomm’s Board is committed to creating sustainable long-term shareholder value and believes that the Company is well positioned to do so through and beyond the current challenging environment. The Board actively reviews management’s short and long term internal growth strategies as well as strategic opportunities for external growth. It also evaluates external approaches to the Company to determine whether or not they would maximize value for all shareholders. The Board is pleased that the Company’s stated growth strategy delivered record financial performance in fiscal 2012.
The Board of Directors maintains a Strategy Committee comprised of four independent Board members. This Committee regularly considers various possible options to increase shareholder value, including strategic acquisitions and strategic transactions with other companies through public and private processes. The Committee retains highly qualified outside advisers it deems necessary to discharge these responsibilities.
The Board reiterates its recommendation that shareholders vote FOR all
the proposals at the Company’s Annual Meeting of Stockholders on
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
For Globecomm Investor Relations information:
Globecomm provides specialized communications products to support its global service offerings for media, wireless, government, maritime and enterprise customers.
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