Revised Proxy Statement Will Include Proposal
to Eliminate Supermajority Voting Requirements
Company
Reinforces Commitment to Strong Corporate Governance
Practices
COLUMBIA, Mo., Sept. 20,
2024 /PRNewswire/ -- American Outdoor Brands, Inc.
(NASDAQ Global Select: AOUT), an innovation company that
provides product solutions for outdoor enthusiasts, today announced
that it will postpone its 2024 Annual Meeting of Stockholders. The
meeting is being delayed so that the Company can file a revised
proxy statement to include a binding proposal to approve amendments
to its certificate of incorporation to eliminate supermajority
voting requirements for amendments to its certificate of
incorporation and bylaws.
The Company issued the following statement:
"The Company values constructive feedback from stockholders and
welcomes their input. It is also committed to strong corporate
governance practices as indicated by its voluntary declassification
of the Board of Directors in 2021 and the submission to
stockholders of a binding proposal to eliminate the supermajority
voting requirements in its certificate of incorporation in 2022,
which proposal did not receive the requisite stockholder vote for
approval. After careful consideration of the vote at the 2023
Annual Meeting on the non-binding stockholder proposal to eliminate
the supermajority voting requirements from our certificate of
incorporation, the disclosure contained in the proxy statement for
that meeting, and additional stockholder feedback, the Company has
decided to file a revised proxy statement for its 2024 Annual
Meeting to include a binding proposal to eliminate this
supermajority voting requirement so that stockholders can once
again decide whether they would like to eliminate these
requirements."
The Company intends to file a revised proxy statement in the
coming weeks. All proxies previously submitted by stockholders and
any votes previously cast for the proposals at the 2024 Annual
Meeting of Stockholders will be disregarded. Stockholders are
encouraged to review the revised proxy statement and vote on the
revised proxy card once they become available. No stockholder
action is requested at this time.
About American Outdoor Brands, Inc.
American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT) is an
innovation company that provides product solutions for outdoor
enthusiasts, including hunting, fishing, camping, shooting, outdoor
cooking, and personal security and personal defense products. The
Company produces innovative, high quality products under brands
including BOG®; BUBBA®; Caldwell®; Crimson Trace®; Frankford
Arsenal®; Grilla Grills®; Hooyman®; Imperial®; LaserLyte®;
Lockdown®; MEAT!™; Old Timer®; Schrade®; Tipton®; Uncle
Henry®; ust®; and Wheeler®. For more information about all the
brands and products from American Outdoor Brands, Inc.,
visit aob.com.
Contact:
Liz Sharp, VP, Investor
Relations
lsharp@aob.com
(573) 303-4620
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SOURCE American Outdoor Brands, Inc.