Acceris Communications Inc. Announces Annual Shareholder Meeting Results.PITTSBURGH -- Acceris Communications Inc. ("Acceris")(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ACRS ACRS See: Accelerated cost recovery system ACRS See Accelerated Cost Recovery System (ACRS). ) today announced that on August 5, 2005, it held its Annual Meeting of Shareholders. For more information on the following proposals, see the Company's proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. dated July 6, 2005, the relevant portions of which are incorporated herein by reference. In connection with the Annual Meeting, the Company's transfer agent, American Stock Transfer and Trust Company, tabulated proxies representing 18,776,084 shares, or 97.5%, of the total outstanding shares voted in the following manner:
Proposal 1: The election of directors
FOR WITHHELD
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Nominees:
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Allan Silber 18,766,334 9,750
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Henry Toh 18,758,463 17,621
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Hal Heaton 18,760,718 15,366
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Proposal 2. The approval of the sale of substantially all assets of the company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Acceris Communications Corp.
17,611,621 shares voting for (representing 91.4%)
10,511 shares voting against (representing 0.1%)
4,785 shares abstaining
The asset sale transaction remains subject to regulatory and other customary closing conditions and is expected to close by September 30, 2005. Proposal 3. The amendment of the company's Articles of Incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. to change the name of the company to "C2 Global Technologies Inc."
18,757,295 shares voting for (representing 97.4%)
15,530 shares voting against (representing 0.1%)
3,258 shares abstaining
The new name reflects a change in the strategic direction of the Company in light of the sale of approximately 98% of its telecommunications business. Proposal 4. The ratification of the appointment of BDO Seidman BDO Seidman, LLP is the United States arm of BDO International, one of the largest accounting firms outside of the Big Four. History BDO Seidman, LLP was founded as Seidman and Seidman in New York City in 1910 by Maximillian L. Seidman. , LLP LLP - Lower Layer Protocol as independent auditors for the year ended December 31, 2005.
18,768,116 shares voting for (representing 99.9%)
7,054 shares voting against (representing 0.1%)
913 shares abstaining
About Acceris Acceris is a broad based communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. serving residential, small and medium-sized business and large enterprise customers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . A facilities-based carrier, it provides a range of products including local dial tone and 1+ domestic and international long distance voice services, as well as fully managed and fully integrated data and enhanced services. Acceris offers its communications products and services both directly and through a network of independent agents, primarily via multi-level marketing Multi-level marketing (MLM, now sometimes called network marketing) is a business model that combines direct marketing with franchising. Multi-level marketing businesses function by recruiting salespeople (also called Distributors, Independent Business and commercial agent programs.Acceris also offers a proven network convergence solution for voice and data in Voice over Internet Protocol ("VoIP") communications technology and holds two foundational patents in the VoIP space. For further information, please visit Acceris' website at www.acceris.com. Forward-Looking Statements This release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended, that are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may," "will," "anticipate," "believe," "estimate," "expect," "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements.These statements reflect our current view of future events and are subject to certain risks and uncertainties as noted in our securities and other regulatory filings.Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.Many factors could cause actual results to differ materially from our forward-looking statements. Acceris Communications Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :ACRS) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CXS CXS Coherent X-Ray Scattering ) |
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