Vcg (AMEX:PTT)
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VCG Holding Corp. (AMEX: PTT):
VCG Holding Corp., a leading owner, operator and consolidator of adult
nightclubs, announced that on June 12, 2007, it held it’s
Annual Meeting of Shareholders. For more information on the following
proposals, see the Company’s proxy statement
dated May 24, 2007, the relevant portions of which are incorporated
herein by reference.
In connection with the Annual Meeting, June 12, 2007, tabulated proxies
representing 15,622,367 shares, or 93.2%, of the total outstanding
shares voted in the following manner:
Proposal 1: The election of directors.
FOR
WITHHELD
Nominees:
Troy H. Lowrie
15,426,238
2,380
Micheal L. Ocello
15,426,238
2,380
Robert J. McGraw, Jr
15,426,238
2,380
Rand E. Kruger
15,019,987
602,380
Allan S. Rubin
15,426,238
2,380
Edward Bearman
15,426,238
2,380
Martin A. Grusin
15,618,287
4,080
Proposal 2: Ratification of the appointment of Causey Demgen &
Moore, Inc. as the company’s
independent certified public accountants.
15,352,975 shares voting for (representing 99.27%)
248,142 shares voting against (representing 1.7%)
21,250 shares abstaining.
Proposal 3: Ratification of February 2, 2007 private placement
of 3,000,000 shares of common stock at a price below the then market
value of common stock representing more than 20% of outstanding common
stock.
15,591,582 shares voting for (representing 99.9%)
10,035 shares voting against (representing 0.01%)
20,750 shares abstaining.
About VCG Holding Corp.
VCG Holding Corp. is an owner, operator and consolidator of adult
nightclubs throughout the United States. The Company currently owns
twelve adult nightclubs and one upscale dance lounge. The clubs are
located in Indianapolis, St. Louis, Denver, Colorado Springs, Raleigh,
Minneapolis, and Louisville.
Forward-looking statements
Statements contained in this press release concerning future results,
performance or expectations are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
statements include statements regarding the intent, belief or current
expectations of the Company and members of its management team, as well
as assumptions on which such statements are based. All forward-looking
statements in this press release are based upon information available to
the Company on the date of this press release. Forward-looking
statements involve a number of risks and uncertainties, and other
factors, that could cause actual results, performance or developments to
differ materially from those expressed or implied by those
forward-looking statements including the following: failure of facts to
conform to necessary management estimates and assumptions; the Company’s
ability to identify and secure suitable locations for new nightclubs on
acceptable terms, open the anticipated number of new nightclubs on time
and within budget, achieve anticipated rates of same-store sales, hire
and train additional nightclub personnel and integrate new nightclubs
into its operations; the continued implementation of the Company’s
business discipline over a large nightclub base; unexpected increases in
cost of sales or employee, pre-opening or other expenses; the economic
conditions in the new markets into which the Company expands and
possible uncertainties in the customer base in these areas; fluctuations
in quarterly operating results; seasonality; changes in customer
spending patterns; the impact of any negative publicity or public
attitudes; competitive pressures from other national and regional
nightclub chains; business conditions, such as inflation or a recession,
or other negative effect on nightclub patterns, or some other negative
effect on the economy, in general, including (without limitation) growth
in the nightclub industry and the general economy; changes in monetary
and fiscal policies, laws and regulations; war, insurrection and/or
terrorist attacks on United States soil; and other risks identified from
time to time in the Company’s SEC reports,
including the Annual Report on Form 10-KSB for 2006, Quarterly Reports
on Form 10-QSB and Current Reports on Form 8-K, registration statements,
press releases and other communications. The Company undertakes no
obligation to update or revise forward-looking statements to reflect
changed assumptions, the occurrence of unanticipated events or changes
to future operating results over time.