Hector Communic (AMEX:HCT)
Historical Stock Chart
From Jun 2019 to Jun 2024
![Click Here for more Hector Communic Charts. Click Here for more Hector Communic Charts.](/p.php?pid=staticchart&s=A%5EHCT&p=8&t=15)
Hector Communications Corporation Reports Results of
Shareholders' Vote
HECTOR, Minn., May 25 /PRNewswire-FirstCall/ -- The Annual Meeting of the
Shareholders of Hector Communications Corporation was held on May 20, 2004 in
Eden Prairie, MN. The total number of shares outstanding and entitled to vote
at the meeting was 3,608,813 of which 3,517,997 were present either in person
or by proxy. Shareholders re-elected board members James O. Ericson, Paul N.
Hanson and Wayne E. Sampson to three-year terms expiring at the 2007 Annual
Meeting of Shareholders by the following vote:
In Favor Abstaining
James O. Ericson 2,894,955 623,022
Paul N. Hanson 2,893,606 624,371
Wayne E. Sampson 2,894,705 623,272
Board members continuing in office are Paul A. Hoff, Luella Gross Goldberg and
Gerald D. Pint (whose terms expire at the 2006 Annual Meeting of Shareholders)
and Curtis A. Sampson, Steven H. Sjogren and Ronald J. Bach (whose terms expire
at the 2005 Annual Meeting of Shareholders).
At the Annual Meeting action was also taken on a shareholder proposal
requesting the Company's Board of Directors to either redeem Rights issued
under the Company's Rights Plan or submit continuation of the Rights Plan to a
vote of the shareholders at a special shareholders meeting. Rights Plans are
also known as poison pills and are used by companies as a defense against
unsolicited takeovers. At the Annual Meeting 1,190,364 shares (33% of all
outstanding shares) voted in favor of the proposal requesting redemption of the
Rights, 1,142,136 shares (32% of all outstanding shares) voted against the
proposal and 1,276,313 shares (35% of all outstanding shares) abstained or did
not vote on the shareholder proposal. The Company's Board of Directors expects
to consider the Rights Plan and the results of the voting on the shareholder
proposal at its next scheduled board meeting in July.
Hector Communications Corporation is a telecommunications holding company
which, through its wholly-owned subsidiaries, provides telecommunications
services in rural communities in Minnesota, Wisconsin and North Dakota. The
Company presently serves approximately 29,800 telephone access lines and 9,000
cable television subscribers and has minority ownership interests in many other
telecommunications companies.
From time to time in reports filed with the Securities and Exchange Commission,
in press releases, and in other communications to shareholders and the
investing public, the Company may make statements regarding the Company's
future financial performance. Such forward-looking statements are subject to
risks and uncertainties, including but not limited to, the effects of the
Telecommunications Act, new technological developments which may reduce
barriers for competitors entering the Company's local exchange or cable
television markets, higher than expected expenses and other risks involving the
telecommunications industry generally. All such forward-looking statements
should be considered in light of such risks and uncertainties.
DATASOURCE: Hector Communications Corporation
CONTACT: Curtis A. Sampson, Chairman and Chief Executive Officer, Steven
H. Sjogren, President, or Paul N. Hanson, Vice President and Treasurer, all of
Hector Communications Corporation, +1-320-848-6231