Court OKs delay of MGP annual meeting

by World Grain Staff
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ATCHISON, KANSAS, U.S. — MGP Ingredients, Inc. announced on Aug. 23 that the Court of Appeals of the State of Kansas granted a previously filed petition for a stay of the company’s 2013 Annual Meeting of Stockholders.  

As a result, the meeting, which was scheduled to convene on Aug. 23, has been postponed pending further review by the Court.

The original May 23 annual meeting was adjourned due to a lack of quorum caused by the revocation of proxies by certain preferred stockholders, including the MGP Ingredients, Inc. Voting Trust u/a/d Nov. 16, 2005, as amended (the “Voting Trust”). While there was a quorum of common stockholders at the meeting, a quorum of preferred stockholders was also required in order to continue.

The Atchison County District Court at the end of July ordered MGP to recommence its previously adjourned meeting on or before Aug. 26, and to provide stockholder tabulation data for inspection immediately.


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