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VAN DORN SHAREHOLDERS REJECT PROPOSAL, ELECT DIRECTORS

 VAN DORN SHAREHOLDERS REJECT PROPOSAL, ELECT DIRECTORS
 CLEVELAND, May 8 /PRNewswire/ -- Van Dorn Company (NYSE: VDC) today announced that for the second year in a row its shareholders had rejected a proposal that would have required all Company directors to be elected for yearly terms at each annual meeting. Approximately 41 percent of the outstanding shares voted for the proposal which required approval by a majority for passage. Thus, directors will continue to be elected to staggered three-year terms.
 Shareholders also re-elected two directors recommended by the Company and, as a result of cumulative voting, elected one director from an alternate slate. Approximately 62 percent of the shares voted supported the Directors recommended by the Company and approximately 38 percent of the shares voted supported the alternate slate.
 Thomas R. Miklich and Jack L. Jones were re-elected and William M. Frazier was newly elected.
 The elections were held at the Company's annual meeting on May 1. Due to voting by shareholders attending the meeting, the results could not be announced until the independent inspector of election completed his tabulation.
 "We are encouraged by the strong support of our shareholders in rejecting the proposal to eliminate the staggered Board of Directors and re-electing two of the Company's nominees to the Board, notwithstanding the efforts by a group of risk arbitrageurs who acquired a large block of shares following a takeover proposal by Crown Cork & Seal. We look forward to continue in our efforts to build the value of the Company for all shareholders," said W.G. Pryor, President and Chief Executive Officer.
 -0- 5/8/92
 /CONTACT: Thomas R. Miklich, executive vice president of Van Dorn, 216-447-8777/
 (VDC) CO: Van Dorn Company ST: Ohio IN: SU: PER


KK -- CL010 -- 8127 05/08/92 13:25 EDT
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Publication:PR Newswire
Date:May 8, 1992
Words:295
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