June 8, 2012
June 8, 2012
Calista Corporation Board of Directors
301 Calista Court #A
Anchorage, Alaska 99518
ATTN: Arthur Heckman, Chairman of the Board
Telephone Number: 907.549.2417
FOR IMMEDIATE RELEASE
Calista Annual Meeting Rescheduled for November 3, 2012
ANCHORAGE, ALASKA – On June 1, 2012, the board of directors of Calista Corporation took action by adopting a resolution to reschedule its annual shareholder meeting to a new date of November 3, 2012 in Goodnews Bay, Alaska.
Arthur Heckman, Chairman of the Board of Calista Corporation said, “The Calista board took action to reschedule the annual meeting for later in the year.” He said the vote was taken in light of the board’s prior action the previous month to cancel the annual shareholder meeting then scheduled for June 2, 2012. He further stated, “The prior action to cancel that meeting was taken because the board realized a defect had occurred in not allowing certain nominees for the board slate to participate in a critical vote in the voting process at the board’s April 2012 meeting. That vote was on the at-large nominee candidate to be included in the board’s slate of nominees up for election at the annual meeting.”
Mr. Heckman said, “The normal process for noticing and preparing for holding an annual meeting will be followed for the November 2012 meeting.” However, he also stated, “Unlike the past, the board will follow a procedure for voting on members of a board slate of candidate nominees for an annual meeting which allows a nominee (who is a board member) to participate in voting on other nominees.” He further stated that the board would, nevertheless, continue to follow a policy of not allowing a nominee (who is a board member) to vote on that nominee’s inclusion in the board slate for an annual meeting.
Mr. Heckman said, “More details as to the annual meeting process to be followed for the November 2012 meeting will be provided to Calista shareholders in the near future.
Mr. Heckman further said, “When the board realized it was too late to rectify the defect in voting done at the April 2012 board meeting by amending the board proxy materials distributed to Calista shareholders for the June 2012 scheduled meeting, the only alternative available to the board was to stop preparation for that meeting, and to cancel and reschedule it.”
Mr. Heckman also said, “The board weighed the pros and cons of the potentially disruptive action to cancel the June meeting but decided it was in the best interests of the Calista shareholders to simply start anew with the rescheduled annual meeting.”
Mr. Heckman stated, “The board resolved to hold the rescheduled annual meeting in Goodnews Bay, the same location as previously scheduled for the meeting, to minimize disruption of plans of those shareholders intending to attend the meeting.”
Calista Corporation is an Alaska Native regional corporation formed under the Alaska Native Claims Settlement Act and organized under Alaska corporate law. Calista has business interests in a number of areas carried out through subsidiary operations.
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