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Autobytel Announces Results Of Reconvened Annual Meeting Of Stockholders

Autobytel Inc. (Nasdaq: ABTL), a leading provider of online consumer leads and marketing resources for the automotive industry, today announced that Proposal 3 has been approved by the company’s stockholders at the reconvened Annual Meeting held today. The Annual Meeting, originally convened on June 20, 2013, was adjourned to today to allow stockholders additional time to vote on Proposal 3.

Proposal 3 approves an amendment to the company’s certificate of incorporation to clarify the board of directors’ authority to fix the voting rights of any series of preferred stock created and issued pursuant to the provisions of the company’s certificate of incorporation authorizing the creation and issuance of one or more series of preferred stock.

The company previously reported that the following proposals were also approved by stockholders at the Annual Meeting:
  • Proposal 1: The reelection of Mr. Michael J. Fuchs and Ms. Janet Thompson as Class III directors of Autobytel’s board of directors.
  • Proposal 2: An amendment of Autobytel’s certificate of incorporation to reduce the number of authorized shares of common stock to 55,000,000.
  • Proposal 4: An amendment of Autobytel’s certificate of incorporation to eliminate provisions establishing the powers, designations, preferences and rights for series A, B and C Preferred Stock.
  • Proposal 5: An advisory vote on the compensation of Autobytel’s named executive officers.
  • Proposal 6: A two-year frequency on advisory votes on the compensation of Autobytel’s named executive officers. In light of this advisory vote, the board of directors determined that it will include a stockholder vote on the compensation of executives every two years until the next required vote on the frequency of stockholder advisory votes on the compensation of executives, or the board of directors determines that a different frequency for that vote is in the best interests of the company and its stockholders.
  • Proposal 7: The appointment of Moss Adams LLP as Autobytel’s independent registered public accounting firm for 2013 was ratified.

About Autobytel Inc.Autobytel Inc., an online leader offering consumer leads and marketing resources to car dealers and manufacturers and providing consumers with the information they need to purchase new and used cars, pioneered the automotive Internet when it launched its flagship website, www.autobytel.com, in 1995. Autobytel continues to offer innovative products and services to help consumers buy, and auto dealers and manufacturers sell, more used and new cars. Autobytel has helped tens of millions of automotive consumers research vehicles; connected thousands of dealers nationwide with motivated car buyers; and helped every major automaker market its brand online. Through its flagship website, network of automotive sites and respected online affiliates, Autobytel continues its dedication to innovating the industry's highest quality Internet programs to provide consumers with a comprehensive and positive automotive research and purchasing experience, and auto dealers, dealer groups and auto manufacturers with some of the industry's most productive and cost-effective customer referral and marketing programs.

Investors and other interested parties can receive Autobytel news releases and invitations to special events by accessing the online registration form at Investor Alerts.

Copyright Business Wire 2010

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