This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Clinton Group Comments On Voting Results At Stillwater Mining Company

NEW YORK, May 8, 2013 /PRNewswire/ -- Clinton Group, Inc. (" Clinton") commented on the certification of election results from the 2013 annual meeting of shareholders (the "Annual Meeting") at Stillwater Mining Company (NYSE: SWC) (" Stillwater" or the "Company").

Clinton noted that its four elected nominees received the highest vote totals of any of the candidates that were nominated to the Board of Directors (the "Board") and that each won the support of a majority of votes cast at this year's Annual Meeting. Clinton also noted that the two next highest vote totals were received by directors who had served on the Board for less than one year.

"These election results are a clear message from stockholders that the Company needs to chart a difference course, under new leadership," said Gregory P. Taxin, Managing Director of Clinton. "We are pleased that six of the eight directors are essentially new to the Board and are confident that there will be a solid, cohesive majority on the Board to implement the change stockholders have demanded."

Clinton further noted that more than 65% of the shares that voted at the Annual Meeting disapproved of the Company's pay practices in the so-called "say-on-pay" vote. This result promises to be one of the largest rebukes by stockholders this year of any company's executive pay programs and policies.

"We are grateful for the overwhelming support our nominees received and believe the director and say-on-pay voting can be read only one way: as a clear mandate for change," continued Mr. Taxin. "With a new Board, the opportunity exists for a renewed Company. We are enthusiastic about the future of Stillwater, especially now that it is being guided by the able hands of these independent directors."

About Clinton Group, Inc.

Clinton Group, Inc. is a Registered Investment Advisor based in New York City. The firm has been investing in global markets since its inception in 1991 with expertise that spans a wide range of investment styles and asset classes.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.96 0.23%
FB $117.52 -0.05%
GOOG $696.38 0.49%
TSLA $236.36 -1.80%
YHOO $36.33 -0.74%


Chart of I:DJI
DOW 17,753.71 -137.45 -0.77%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs