Shareholders approved all proposals
COPPELL, Texas--(BUSINESS WIRE)--May. 31, 2012--
Mannatech,
Incorporated (NASDAQ: MTEX),
a leading developer and provider of nutritional supplements and skin
care products based on Real
Food Technology® solutions, announced that its
shareholders passed all three proposals put to a vote at the company’s
annual shareholder meeting held Wednesday, May 30, 2012.
Mannatech’s CEO Dr. Robert Sinnott and CFO Mark Nicholls spoke to the
shareholders sharing the company’s perspective on 2011. Dr. Sinnott
provided insight into key strategic initiatives for the company for
2012. Mr. Nicholls discussed the company’s results related to
Mannatech’s operations for 2011 and for the first quarter of 2012.
Chairman of the Board J. Stanley Fredrick provided opening remarks.
There were 2,596,219 outstanding shares of Mannatech’s common stock as
of April 5, 2012 entitled to vote and 1,922,428 shares, or 74.0%,
represented at the meeting, either in person or by proxy.
Shareholders voting in person or by proxy approved Mannatech’s proposal
to elect Gerald E. Gilbert, Larry A. Jobe, and Marlin Ray Robbins to its
Board of Directors as Class I Directors to hold office until the
company’s 2015 annual meeting. Each of the three nominees for director
received at least 91.0% of shares voted for this proposal at the meeting.
Shareholders voting in person or by proxy, and representing
approximately 98.7% of shares voted at the meeting, ratified the
appointment of BDO USA, LLP as Mannatech’s independent registered public
accounting firm for the fiscal year ended December 31, 2012.
Shareholders voting in person or by proxy, and representing
approximately 75.1% of shares voted for this proposal at the meeting,
approved an amendment to the Mannatech, Incorporated 2008 Stock
Incentive Plan to increase the number of shares of common stock subject
to the plan by 100,000.
About Mannatech
Mannatech, Incorporated, develops high-quality health, weight and
fitness, and skin care products that are based on the solid foundation
of nutritional science and development standards. Mannatech is dedicated
to its platform of Social Entrepreneurship based on the foundation of
promoting, aiding and optimizing nutrition where it is needed most
around the world. Mannatech’s proprietary products are available through
independent sales Associates around the globe including the United
States, Canada, South Africa, Namibia, Australia, New Zealand, Austria,
Denmark, Germany, Norway, Sweden, the Netherlands, the United Kingdom,
Japan, Taiwan, Singapore, Estonia, Finland, the Republic of Ireland,
Czech Republic, the Republic of Korea and Mexico. For more information,
visit Mannatech.com.
Please Note: This release contains “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as amended,
and the Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally can be identified by use of phrases
or terminology such as “anticipate,” “believe,” “will” or other similar
words or the negative of such terminology. Similarly, descriptions of
Mannatech’s objectives, strategies, plans, goals or targets contained
herein are also considered forward-looking statements. Mannatech
believes this release should be read in conjunction with all of its
filings with the United States Securities and Exchange Commission and
cautions its readers that these forward-looking statements are subject
to certain events, risks, uncertainties, and other factors. Some of
these factors include, among others, Mannatech’s inability to attract
and retain associates and members, increases in competition, litigation,
regulatory changes, and its planned growth into new international
markets. Although Mannatech believes that the expectations, statements,
and assumptions reflected in these forward-looking statements are
reasonable, it cautions readers to always consider all of the risk
factors and any other cautionary statements carefully in evaluating each
forward-looking statement in this release, as well as those set forth in
its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q,
and other filings filed with the United States Securities and Exchange
Commission, including its current reports on Form 8-K. All of the
forward-looking statements contained herein speak only as of the date of
this release.
Source: Mannatech, Incorporated
Mannatech, Incorporated
Donna Giordano, 972-471-6512
Manager,
Executive Office Administration
ir@mannatech.com
www.mannatech.com