Tecton Corporation Releases Voting Results Of The July 22, 2013 Shareholder Meeting

Jul 22, 2013, 16:29 ET from Tecton Corporation

CLEARWATER, Fla., July 22, 2013 /PRNewswire/ -- Tecton Corporation (the "Company") (TTNC) is pleased to update its shareholders with respect to its recent shareholder meeting and on-going corporate restructuring. 

Represented at today's meeting, in person or by proxy, were 1,468,409 shares, or 59.05% of the Company's shares of outstanding stock entitled to vote.  The shares were voted as follows:

Voted For

Voted Against



Proposal 1-

Amendments to the

Articles of





Proposal 2-

Election of Directors




Subsequently, the proposed amendments to the Company's Articles of Incorporation, including authorization to issue up to 100 million common shares and 10 million preferred shares, have been approved by an absolute majority of the shareholders, as well as, ratifying the current board of directors by an absolute majority of the shareholders.

The Company's CEO, Micah J. Eldred, commented, "I would like to thank all of the current shareholders for their support.  Today, over 99% of the shareholders who voted, voted in favor of the proposals we deemed necessary to continue with the reorganization of the Company, as well as showed their support for the current slate of directors.  It's rare to receive such a strong showing of support.  The Company can now focus on moving forward with its debt restructuring plans and other strategic corporate pursuits."

Cautionary Information Regarding Forward-Looking Statements.

Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995.  Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated.  The information contained in this release is as of June 17, 2013.  Tecton Corporation assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

SOURCE Tecton Corporation