Lionsgate (NYSE: LGF) announced today that IVS Associates, Inc., the independent Inspector of Elections, has released its preliminary report for Lionsgate's 2010 Annual General Meeting of Shareholders held on December 14, 2010.
Press Release from Lionsgate
SANTA MONICA, Calif. and VANCOUVER, British Columbia, Dec. 16, 2010 /PRNewswire-FirstCall/ -- Lionsgate (NYSE: LGF) announced today that IVS Associates, Inc., the independent Inspector of Elections, has released its preliminary report for Lionsgate's 2010 Annual General Meeting of Shareholders held on December 14, 2010.
Based on the preliminary tabulation by IVS Associates, Lionsgate shareholders have elected to the Lionsgate Board of Directors all twelve of the Company's director nominees by a clear and convincing margin: Norman Bacal, Michael Burns, Arthur Evrensel, Jon Feltheimer, Frank Giustra, Morley Koffman, Harald Ludwig, G. Scott Paterson, Mark H. Rachesky, Daryl Simm, Hardwick Simmons and Phyllis Yaffe.
Lionsgate issued the following statement:
"These results are a clear indication that Lionsgate shareholders understand our vision for Lionsgate and the tremendous potential for continued value creation under this Board and management team. With the right leadership in place, Lionsgate is focused on continuing to build on the momentum over the last year, in which we achieved record results across our business. We thank our shareholders for their strong support throughout this process and we look forward to continuing to execute on our strategy for the benefit of all shareholders."
With 93.92% of the total eligible shares voted, the results as a percentage of shares voted on directors are as follows:
Proposal:Lionsgate Nominees:Number of Votes - Percent of Votes CastNorman Bacal - 123,726,272 - 97.86%Michael Burns - 71,750,085 - 56.72%Arthur Evrensel - 121,969,580 - 96.48%Jon Feltheimer - 121,450,541 - 96.06%Frank Giustra - 125,899,304 - 99.58%Morley Koffman - 123,853,573 - 97.97%Harald Ludwig - 69,714,060 - 55.14%G. Scott Paterson - 71,743,964 - 56.75%Mark H. Rachesky - 71,747,090 - 56.75%Daryl Simm - 121,971,722 - 96.48%Hardwick Simmons - 69,713,625 - 55.14%Phyllis Yaffe - 125,895,568 - 99.58%
Icahn Group Nominees:Number of Votes - Percent of Votes CastMichael Dornemann - 53, 607,251 - 42.40%Jay Firestone - 52,923,494 - 41.86%Christopher McGurk - 46,263,119 - 36.59%Daniel Ninivaggi - 49,728,321 - 39.33%Harold Shapiro - 46,099,167 - 36.46%
Prior to the closing of the polls at the Annual General Meeting, all proxy cards received by the Company and the Icahn Group were turned over to the independent inspector of elections, IVS Associates, Inc., for final tabulation and certification. Final results will be announced once they have been certified, which is expected to occur in the coming days.
In addition, at the Annual General Meeting, shareholders voted to reappoint Ernst & Young LLP as auditors of the Company at remuneration to be fixed by the audit committee.
Morgan Stanley & Co. Incorporated is serving as financial advisor to Lionsgate and Heenan Blaikie LLP is serving as legal advisor. Perella Weinberg Partners LP is serving as financial advisor to the Special Committee of the Lionsgate Board of Directors and Wachtell, Lipton, Rosen & Katz is serving as U.S. legal advisor.
About Lionsgate
Lionsgate is the leading next generation studio with a strong and diversified presence in the production and distribution of motion pictures, television programming, home entertainment, family entertainment, channels, video-on-demand and digitally delivered content. The Company has built a strong television presence in production of prime time cable and broadcast network series, distribution and syndication of programming through Debmar-Mercury and an array of channel assets. Lionsgate currently has 15 shows on more than 10 networks spanning its prime time production, distribution and syndication businesses, including such critically-acclaimed hits as "Mad Men", "Weeds" and "Nurse Jackie" along with new series such as "Blue Mountain State" and "Running Wilde" and the syndication successes "Tyler Perry's House Of Payne", its spinoff "Meet The Browns", "The Wendy Williams Show" and the recently announced "Are We There Yet?".
Its feature film business has generated such recent hits as THE EXPENDABLES, which was #1 at the North American box office for two weeks this past summer, THE LAST EXORCISM, TYLER PERRY'S WHY DID I GET MARRIED TOO?, KICK ASS and the critically-acclaimed PRECIOUS, which won two Academy Awards(R). The Company's home entertainment business has grown to more than 7% market share and is an industry leader in box office-to-DVD revenue conversion rate. Lionsgate handles a prestigious and prolific library of approximately 12,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate brand remains synonymous with original, daring, quality entertainment in markets around the world.
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