Calista cancels June 2 annual meeting
Arthur Heckman, Calista Corporation Chairman
The scheduled June 2 annual sharholders meeting of Calista Corporation was cancelled by adoption of a resolution on May 15. The meeting was to be in Goodnews Bay.
Arthur Heckman, chairman of the board of Calista Corporation said, “The Calista board took action to cancel the annual meeting after realizing a defect had occurred in the voting process at the board’s April 2012 meeting on the at-large nominee candidate to be included in the board’s slate of nominees up for election.” He said the vote taken at that meeting would have been different had all directors other than the incumbent at-large nominee to the board been allowed to vote on the matter. He stated “Because the board slate was incorrectly composed, the board concluded that the proxy statement was incorrectly composed.”
“When we realized it was too late to rectify the defect by amendment of the annual meeting materials distributed to shareholders, the only alternative available to us was to stop preparations for the meeting and reschedule it,” said Heckman. He stated it was the resolve of the board to notice a newly rescheduled annual meeting of shareholders in the near future.
“The board weighed the pros and cons of the potentially disruptive action to cancel the meeting but decided it was in the best interests of the Calista shareholders to simply start anew with the rescheduled annual meeting,” he continued.
Calista Corporation is an Alaska Native regional corporation formed under the Alaska Native Claims Settlement Act and organized under Alaska corporate law. Calista has business interests in a number of areas carried out through subsidiary operations.