Mannatech Announces Results of Shareholders Meeting

Mannatech, Incorporated, 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.

 

More Mannatech News and Articles

 

Mannatech Profile

Create a Free Mannatech Rep Listing