Providence Service Corporation Announces Preliminary Results of Annual Meeting of Stockholders
16 6월 2009 - 1:37AM
PR Newswire (US)
Incumbent Nominees Overwhelmingly Re-Elected TUCSON, Ariz., June 15
/PRNewswire-FirstCall/ -- The Providence Service Corporation
(NASDAQ:PRSC) today announced that, based on a preliminary vote
count provided by its proxy solicitor, stockholders overwhelmingly
re-elected Providence's two director nominees, Fletcher Jay
McCusker and Kristi L. Meints at the Company's June 15, 2009 Annual
Meeting of Stockholders. According to that preliminary vote count,
Avalon's nominees received support from less than 2% of the shares
held by non-affiliates of the Avalon Group and voted in the
election of directors. "We appreciate the strong support of our
stockholders and look forward to moving beyond the Avalon Group's
disruptive and distracting proxy contest and their self-interested
agenda and returning our full attention to delivering on
Providence's very significant potential and enhancing value for ALL
Providence stockholders," said Fletcher Jay McCusker, Providence's
CEO. IVS Associates, Inc., the independent Inspector of Elections,
has indicated that it expects to issue a preliminary tabulation of
the votes early next week. Final results of the Annual Meeting will
be announced once they are certified by the Inspector following the
customary review and challenge period. About Providence The
Providence Service Corporation, through its owned and managed
entities, provides home and community based social services and
non-emergency transportation services management to government
sponsored clients under programs such as welfare, juvenile justice,
Medicaid and corrections. Providence does not own or operate beds,
treatment facilities, hospitals or group homes, preferring to
provide services in the client's own home or other community
setting. The Company provides a range of services through its
direct and managed entities to over 81,000 clients through 1,019
contracts at March 31, 2009, with an estimated 6.7 million
individuals eligible to receive the Company's non-emergency
transportation services related to its LogistiCare operations.
Combined, the Company has a nearly $1 billion book of business
including managed entities. Forward-Looking Statements This press
release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Words such as
"believe," "demonstrate," "expect," "estimate," "anticipate,"
"should" and "likely" and similar expressions identify
forward-looking statements. In addition, statements that are not
historical should also be considered forward-looking statements.
Readers are cautioned not to place undue reliance on those
forward-looking statements, which speak only as of the date the
statement was made. Such forward-looking statements are based on
current expectations that involve a number of known and unknown
risks, uncertainties and other factors which may cause actual
events to be materially different from those expressed or implied
by such forward-looking statements. These factors include, but are
not limited to the global credit crisis, capital market conditions,
and other risks detailed in Providence's filings with the
Securities and Exchange Commission, including its Annual Report on
Form 10-K for the fiscal year ended December 31, 2008. Providence
is under no obligation to (and expressly disclaims any such
obligation to) update any of the information in this press release
if any forward-looking statement later turns out to be inaccurate
whether as a result of new information, future events or otherwise.
DATASOURCE: The Providence Service Corporation CONTACT: Fletcher
McCusker, Chairman and CEO, or Kate Blute, Director of Investor and
Public Relations, both of The Providence Service Corporation,
+1-520-747-6600; or Alison Ziegler of Cameron Associates,
+1-212-554-5469, for The Providence Service Corporation Web Site:
http://www.provcorp.com/
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