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Adair International Oil & Gas Inc. Announces Information Relating to the Upcoming Shareholders Meeting.


Business/Energy Editors

John W. Adair, chairman and chief executive officer of Adair International Oil & Gas Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:AIGI AIGI Assistant Inspector General for Investigations (US government)
AIGI Adair International Oil and Gas, Inc.
), announced today additional information relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 the upcoming shareholders meeting. The board of directors of Adair is involved in a proxy contest Proxy contest

A battle for the control of a firm in which a dissident group seeks, from the firm's other shareholders, the right to vote those shareholders' shares in favor of the dissident group's slate of directors. Also called proxy fights.
 with a group of former employees.

The board of directors of Adair delayed the annual meeting from July 15, 2002 until July 26, 2002 to allow for the solicitation of proxies and the return of a greater percentage of the vote from our shareholders. The meeting will be held on Friday, July 26, 2002 at 9:00 a.m. Houston time, in the Chase Center Auditorium (Downtown), 610 Travis, Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation).
Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the
 77002. New proxy materials Proxy Materials

Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other
, including a blue proxy card A proxy card is an easily-acquired or home-made substitute for a collectible card. A proxy is used when a collectible card game player does not own a card, and it would be impractical for such purposes to acquire the card.  to vote for the management of Adair, will be sent to the shareholders on or before the week of July 22, 2002.

The board recommends that you discard the gold proxy card sent to you by the SCORE Group for the following reasons:
-- The SCORE Group is led by Mr. Richard W. Boyce, a former employee who resigned under threat of being terminated by the company.

-- Mr. Richard W. Boyce, a nominee by the SCORE Group for election to the board of directors, is a party adverse to the corporation in litigation relating to the Sabatain Block 20, Yemen Republic and could not represent the corporation's interest in such litigation.

-- Mr. Richard W. Boyce, a nominee by the SCORE Group, is a defendant in litigation filed by the corporation relating to his activities while he was an employee of the corporation and could not represent the corporation's interest in such litigation.

-- Mr. Boyce led an unsuccessful proxy fight during the previous shareholders meeting held on June 15, 2001, where the present management of John W. Adair and Jalal Alghani received approximately 97% of the votes.

-- All the projects the company presently has under development, including the 600 MW Teayawa Energy Center with Calpine in Southern California, Block 20 Exploration Block in the Republic of Yemen and the Cogeneration/Sugar Refinery with Arkel, were initiated by the present management.


"YOUR VOTE IS IMPORTANT: Carefully read the information in these proxy materials before making any decision regarding your vote. We recommend that you sign and return the enclosed new blue proxy card as soon as possible in the prepaid envelope provided. In the event that your shares are held in a brokerage account Brokerage Account

An arrangement between an investor and a licensed brokerage firm that allows the investor to deposit funds with the firm and place investment orders through the brokerage, which then carries out the transactions on the investor's behalf.
 or by a nominee, return the proxy card included with these proxy materials to the brokerage account with your instructions to vote," stated Mr. John W. Adair, chairman and chief executive officer.

The board of directors of Adair International Oil and Gas Inc. consists of Messrs. John W. Adair and Jalal Alghani. Mr. Adair is the chairman of the board and chief executive officer of Adair and owns 11,315,101 shares (7.72%) of Adair common stock. Mr. Alghani is the chief financial officer of Adair and owns 12,244,005 shares (8.35%) of Adair common stock. The board of directors and senior executives of Adair (including Messrs. Adair and Alghani) will seek proxies from the shareholders of Adair to re-elect re·e·lect also re-e·lect  
tr.v. re·e·lect·ed, re·e·lect·ing, re·e·lects
To elect again.



re
 the current members of the board of directors and Dr. John Eftekhar. Shareholders of Adair should read the Adair International Oil and Gas Inc. 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.
 when it becomes available because it contains important information regarding the election of directors. The Adair International Oil and Gas Inc. Proxy Statement and other relevant information are available free at the Securities and Exchange Commission Web site at www.sec.gov.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jul 16, 2002
Words:593
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