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MGP Ingredients, Inc. Comments On Court Ruling

Stocks in this article: MGPI

ATCHISON, Kan., July 26, 2013 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq:MGPI) (the "Company") today announced that Judge Robert J. Bednar of the Atchison County District Court ordered that the Company's previously adjourned May 23, 2013 Annual Meeting be recommenced on or before August 26, 2013 and separately, that stockholder tabulation data be provided for inspection immediately.

John R. Speirs, Chairman of MGP, commented, "While we look forward to recommencing the Annual Meeting, it is unfortunate stockholders may now be deprived of the ability to have complete information regarding the validity of the Voting Trust controlled by members of the Cray Group before that meeting takes place. In addition, we find it troubling that the Cray Group has access to the identity and voting result of each vote cast prior to the adjournment of the Annual Meeting which we view as directly in conflict with their proposal seeking confidential voting."

Speirs continued, "As Independent Directors, we are committed to ensuring that all stockholders have the ability to participate in a fair process and express their views regarding the future of MGP. We will continue to communicate with stockholders regarding the importance of supporting MGP's Independent Directors and management team in maintaining a strong and vibrant MGP. We urge stockholders to support MGP's continued progress as a public company focused on the interests of all stockholders by voting the WHITE proxy card."

The Company will provide notice in the future as to the time and place of a recommencement of the Annual Meeting. Voting remains open by telephone, the Internet or mail prior to the Annual Meeting of stockholders. Stockholders who have already voted need not submit another vote unless they wish to change their votes. See the information in the Company's proxy statement regarding voting procedures.

The Company's proxy statement and annual report on Form 10-K for the year ended December 31, 2012, are available at the following website that can be accessed anonymously: www.proxyvote.com .

About MGP Ingredients

MGP is a leading independent supplier of premium spirits, offering flavor innovations and custom distillery blends to the beverage alcohol industry. The Company also produces high quality food grade industrial alcohol and formulates grain-based starches and proteins into nutritional, as well as highly functional, innovations for the branded consumer packaged goods industry. Distilled spirits are produced at facilities in the adjacent towns of Lawrenceburg and Greendale, Indiana. The Company is headquartered in Atchison, Kansas, where a variety of distilled alcohol products and food ingredients are manufactured. For more information, visit mgpingredients.com.

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