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Independent Advisory Firm ISS Recommends Shareholders Vote FOR all Globecomm's Proposals at the November 15th Shareholder Meeting
HAUPPAUGE, N.Y. --(Business Wire)--
Globecomm
Systems Inc. (NASDAQ: GCOM), a leading communications solutions
provider, today announced that independent advisory firms Institutional
Shareholder Services (ISS) and Egan Jones have recommended that
Globecomm shareholders vote FOR all proposals at Globecomm's November 15th
Annual Meeting and Glass Lewis recommended that Globecomm shareholders
FOR seven of the eight director nominees and FOR all other proposals.
In recommending that shareholders vote FOR all proposals, ISS noted,
"Based on review and evaluation of company disclosures and practices,
ISS recommends support for all agenda items at this meeting."
"We are pleased that all three independent proxy advisory firms support
the amendment of the 2006 Stock Incentive Plan and the executive
compensation plan, and that the three firms are supportive of the
director nominees," said Dave Hershberg, Globecomm's Chairman and CEO.
Glass Lewis recommends voting FOR seven of the eight Board nominees, but
recommends WITHHOLD on the chairman of the nominating and corporate
governance committee, because the Company has neither appointed an
independent chairman nor an independent lead or presiding director.
In reviewing the executive compensation plan Glass Lewis stated:
"Globecomm Systems' (News - Alert) executive compensation received an A grade in our
proprietary pay-for-performance model."
The Globecomm Board reiterates its recommendation that shareholders vote
FOR all the proposals at the Company's Annual Meeting of Stockholders on
November 15, 2012.
Stockholders of record of Globecomm as of September 21, 2012, can vote
in person at the Annual Meeting or by proxy in one of the following
three ways:
1. Vote by Mail: If you received your proxy materials by mail, you can
vote by mail by compleing, signing, dating and mailing the enclosed
proxy card in the postage-paid envelope.
2. Vote by Telephone: Call the toll-free number 1-800-690-6903. You will
need to provide the control number printed on your proxy card, and
follow the instructions on your card and the voice prompts.
3. Vote over the Internet: Go to the website www.proxyvote.com.
You will need to provide the control number printed on your proxy card,
and follow the instructions on your card and the website.
Stockholders that vote by telephone or over the Internet, should not
return the proxy card. Shareholders that hold Globecomm common stock
through a bank or broker will receive instructions from the record
holder asking you how you wish to vote. Telephone and Internet voting
will be offered by most brokers and banks.
Globecomm stockholders who have questions about the proposals to be
voted on at the Annual Meeting, or would like additional copies of the
proxy statement or additional proxy cards, may contact Globecomm's proxy
solicitors, Alliance Advisors, LLC: 973.873.7700.
About Globecomm Systems
Globecomm Systems Inc., ("we", "our", "us" or "Globecomm"), is a leading
global communications solutions provider. Employing our expertise in
emerging communication technologies, including satellite and other
transport mediums, we are able to offer a comprehensive suite of system
integration, system products, and network services enabling a complete
end-to-end solution for our customers. We believe our integrated
approach of in-house design and engineering expertise combined with a
world-class global network and our 24 by 7 network operating centers
provides us a unique competitive advantage. We focus this value
proposition to selective vertical markets, including government,
wireless, media, enterprise, and maritime. As a communications solutions
provider we leverage our global network to provide customers managed
access services to the United States Internet backbone, video content,
the public switched telephone network or their corporate headquarters,
or government offices. We currently have customers for which we are
providing such services in the United States, Europe, South America,
Africa, the Middle East, and Asia.
Based in Hauppauge, New York, Globecomm Systems also maintains offices
in Maryland, New Jersey, Virginia, the Netherlands, South Africa, Hong
Kong, Germany, Singapore, the United Arab Emirates and Afghanistan.
This press release contains forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward looking statements are based on
management's current expectations and observations. You should not place
undue reliance on our forward-looking statements because the matters
they describe are subject to certain risks, uncertainties and
assumptions that are difficult to predict. Our forward-looking
statements are based on the information currently available to us and
speak only as of the date of this press release. Over time, our actual
results, performance or achievements may differ from those expressed or
implied by our forward-looking statements, and such difference might be
significant and materially adverse to our security holders.
We have identified some of the important factors that could cause
future events to differ from our current expectations and they are
described in our most recent Annual Report on Form 10-K, including
without limitation under the captions ''Risk Factors'' and
''Management's Discussion and Analysis of Financial Condition and
Results of Operations,'' and in other documents that we may file with
the SEC (News - Alert), all of which you should review carefully. Please consider our
forward-looking statements in light of those risks as you read this
press release.
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