Shareholders approved all proposals
COPPELL, Texas--(BUSINESS WIRE)--Jun. 6, 2013--
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 proposals put to a vote at the company’s annual
shareholder meeting held Wednesday, June 5, 2013.
Mannatech’s CEO Dr. Robert Sinnott and CFO Mark Nicholls spoke to the
shareholders sharing the company’s perspective on 2012. Dr. Sinnott
provided insight into key strategic initiatives for the company for
2013. Mr. Nicholls discussed the company’s results related to
Mannatech’s operations for 2012. Chairman of the Board J. Stanley
Fredrick chaired the meeting.
There were 2,647,735 outstanding shares of Mannatech’s common stock as
of April 12, 2013 entitled to vote and 2,098,368 shares, or 79.3%,
represented at the meeting, either in person or by proxy.
Shareholders voting in person or by proxy approved Mannatech’s proposal
to elect J. Stanley Fredrick to its Board of Directors as a Class II
Director to hold office until the Company’s 2016 annual meeting. The
nominee received 72.0% of shares voted at the meeting.
Shareholders voting in person or by proxy, and representing
approximately 81.9% of shares voted at the meeting, ratified the
appointment of Mannatech’s independent registered public accounting
firm, BDO USA, LLP, for Mannatech’s fiscal year ended December 31, 2013.
Shareholders voting in person or by proxy, and representing
approximately 95.1% of shares voted at the meeting, approved, on an
advisory basis, executive compensation of the company’s named executive
officers (“Say-on-Pay”).
Shareholders voting in person or by proxy, and representing
approximately 48.0% of shares voted at the meeting, approved, on an
advisory basis, a one-year frequency of future advisory votes on
executive compensation (“Say-on-Frequency”).
“We intend to follow the recommendation of our shareholders and include
a Say-on-Pay advisory vote on an annual basis in our Proxy,” said Dr.
Sinnott. “We value the constructive dialogue on executive compensation
and other important governance topics with our shareholders.”
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 North America
(United States, Canada, and Mexico), Asia/Pacific (Australia, New
Zealand, Japan, Taiwan, Singapore, the Republic of Korea, and Hong
Kong), and EMEA (Austria, Denmark, Germany, Norway, Sweden, the
Netherlands, the United Kingdom, Estonia, Finland, the Republic of
Ireland, Czech Republic, South Africa, and the Republic of Namibia). 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,” “intend” 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 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