ModusLink (MLNK) Issues Response to Peerless (PRLS) Board Nominee Announcement
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ModusLink Global Solutions, Inc. (Nasdaq: MLNK) confirmed receipt of a notice from Peerless Systems Corporation (Nasdaq: PRLS) that it intends to nominate two director candidates for election to the ModusLink Board of Directors at the Company’s 2011 Annual Meeting of Stockholders. According to the notice, Peerless owns approximately 1.62 percent of the outstanding shares of ModusLink. The date of the Company’s 2011 Annual Meeting of Stockholders has not yet been announced.
The Company does not intend to make a recommendation on Peerless’ nominees at this time and will present its formal recommendation in its definitive proxy statement to be filed with the U.S. Securities and Exchange Commission. The Company issued the following statement:
ModusLink had already scheduled an initial meeting between senior management and Timothy Brog, Peerless’ chairman and chief executive officer, in order to engage in a constructive dialogue regarding his perspectives on the Company.
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The Company does not intend to make a recommendation on Peerless’ nominees at this time and will present its formal recommendation in its definitive proxy statement to be filed with the U.S. Securities and Exchange Commission. The Company issued the following statement:
ModusLink had already scheduled an initial meeting between senior management and Timothy Brog, Peerless’ chairman and chief executive officer, in order to engage in a constructive dialogue regarding his perspectives on the Company.
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