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57th Street General Acquisition Corp. Announces Results Of 2011 Annual Meeting Of Stockholders

Stocks in this article: CRMB

Crumbs Bake Shop, Inc. (formerly “57th Street General Acquisition Corp.”) (the “Company”) (NASDAQ: CRMB), owner of Crumbs Holdings LLC (“Crumbs”), a national neighborhood bakery and the largest U.S.-based retailer of cupcakes, held its 2011 annual meeting of stockholders on October 25, 2011 at the offices of Provident State Bank, located at 312 Main Street in Preston, Maryland. At yesterday’s meeting, the following items were approved:

  • Shareholders elected four directors to the Board of Directors: Mark D. Klein, Frederick G. Kraegel, Leonard A. Potter and Andrew J. Moger. Each will serve a one-year term.
  • Shareholders approved an amended and restated certificate of incorporation, pursuant to which the Company changed its name to “Crumbs Bake Shop, Inc.” from “57th Street General Acquisition Corp.”
  • Shareholders approved an amendment to the certificate of designation of the Series A Voting Preferred Stock to, among other things, specifically eliminate the ability of the holders of the Series A Preferred Stock, as a class, to elect a majority of the Board of Directors if such right exceeds the Series A Holders’ aggregate commensurate ownership of the Company.
  • Shareholders approved the Company’s Equity Incentive Plan.
  • Finally, shareholders ratified the appointment of Rothstein Kass & Company, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2011.

In addition, prior to the stockholder meeting holders of the Company’s Series A Voting Preferred Stock reelected four Series A directors to the Board of Directors: Messrs. Edwin H. Lewis, Jason Bauer, Julian R. Geiger and Jeffrey D. Roseman. Each will serve a one-year term.

Shares of the Company’s common stock will continue to trade on the Nasdaq Stock Market under the symbol “CRMB.” The name change will be effected on the Nasdaq system prior to the open of business on Monday, October 31, 2011.

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