Motient Announces Certified Shareholder Vote Results; All Motient Board Nominees Elected.LINCOLNSHIRE, Ill. -- Motient Corporation (MNCP) announced today the certified results of its shareholder vote to elect all of the Company's six nominees to the Board of Directors at its 2006 Annual Meeting of Stockholders held on July 12, 2006. The final voting results, certified by the independent inspectors of election, IVS ivs - INRIA Videoconferencing System. A video-conferencing tool for the Internet based on the H.261 video compression standard. http://zenon.inria.fr:8003/rodeo/personnel/Thierry.Turletti/ivs.html. Associates, Inc. show that approximately 80% percent of votes cast were in favor of Motient's Director Nominees. Approximately 16% - 20% of votes cast were in favor of Highland Capital's nominees, and about half of those votes (10% of the total) voted in favor of Highland's nominees were made by Highland and its affiliates. Shareholders also approved the adoption of the Company's Equity Incentive Plan, the amendment to the Company's restated Certificate of Incorporation certificate of incorporation n. some states issue a certificate to prove a corporation's existence upon the filing of Articles of Incorporation. In most states the Articles are sufficient proof. and ratified the appointment of Friedman LLP LLP - Lower Layer Protocol as Motient's independent auditors. "We are pleased with the results," said Christopher Downie, Motient's Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "Now that Highland's proxy challenge is officially over, we can concentrate our full attention on the business of Motient and its subsidiaries. In that vein, today we are filing a registration statement with the SEC to register Motient shares that we will exchange for TerreStar shares held by some of TerreStar's minority holders - a necessary condition to closing our MSV mSv Millisievert (measure of radiation dose) MSV Medical Society of Virginia MSV Maize Streak Virus MSV Mobile Satellite Ventures LP (Reston, Virginia) MSV Men Stopping Violence and TerreStar exchange transactions. In addition, as the majority owners of TerreStar, we are working diligently with TerreStar management to implement TerreStar's business plan. We think TerreStar is a great company, they have already made great strides in their development of a integrated satellite-terrestrial communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. and we look forward to consolidating and expanding our ownership of TerreStar." About Motient Corporation: Motient is the controlling shareholder of TerreStar Networks Inc., a development-phase satellite communications company, and a minority shareholder of Mobile Satellite Ventures Mobile Satellite Ventures (MSV) is a Reston, VA company that develops telecommunications systems that integrate satellite and terrestrial radio communication technologies into one system. LP, an established satellite communications company. TerreStar and MSV are both in the process of developing next-generation integrated networks that plan to provide ubiquitous wireless service by integrating land-based towers and powerful satellites. These new networks will deliver services to standard wireless devices everywhere in North America. For additional information on Motient, please visit the company's website at www.motient.com. |
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