Hecla Mining Co. news release.
If you have received this in error please send a message to:
eMailDelivery@businesswire.com
with the following command in the body of the message:
unsubscribe HL
If you have questions about this service, please contact your
Business Wire Account Executive or service@businesswire.com
BW0088 MAY 13,2002 5:04 PACIFIC 08:04 EASTERN
( BW)(ID-HECLA MINING)(HL) Hecla Holds Annual Meeting, Elects
Directors
Business Editors
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--May 13, 2002--Hecla Mining
Company (NYSE:HL)(NYSE:HL-PrB) elected three members to the company's
board of directors at its annual meeting of shareholders on Friday,
May 10, 2002.
Phillips S. Baker, Jr., Hecla's President and Chief Operating
Officer, was elected by shareholders to a three-year term on the
board. Baker was first appointed to the board in 2001. In addition,
shareholders of Hecla's preferred stock elected representatives to the
board for the first time, giving three-year terms to David J.
Christensen and Dr. Anthony P. Taylor. Christensen is a precious
metals financial analyst and Taylor is an exploration geologist, as
well as president and past president of various exploration mining
companies.
Hecla's Chairman and Chief Executive Officer Arthur Brown, said,
"I'm very pleased with the quality of the members elected to our
board. They are very knowledgeable about the mining industry and are
familiar with Hecla, and I'm looking forward to their advice and
guidance in the future." At the same time, Hecla shareholders said
farewell to two long-time Hecla directors who retired at the annual
meeting. Leland O. Erdahl and Paul A. Redmond retired amid thanks from
company employees and shareholders for their combined 28 years of
service on the board.
In addition to the election of directors, Hecla shareholders
approved an amendment to the Certification of Incorporation of the
Corporation, increasing the number of authorized shares of common
stock to 200 million. Shareholders also approved the selection of BDO
Seidman, LLP as Hecla's auditors for 2002. The shareholders' meeting
was adjourned until May 31, 2002, and the polls will remain open for
the purposes of obtaining more shareholder votes on an amendment to
the existing 1995 Stock Incentive Plan, an amendment to the
Corporation's existing Stock Plan for Nonemployee Directors and the
adoption of a Key Employee Deferred Compensation Plan. Prior to the
adjourned meeting, scheduled for 10 a.m., May 31, 2002, at the
corporate headquarters in Coeur d'Alene, Idaho, shareholders have the
right to vote their shares by proxy or revote their existing proxy by
returning a proxy bearing a later date or by attending the adjourned
meeting and voting in person. Shares voted for these plans were
approximately 75% in favor of the plans; however, not enough votes
were received to meet the NYSE requirement that a majority of
outstanding common shares be voted on these proposals. A
representative of the company will be contacting shareholders to ask
them to vote their proxies so sufficient votes can be cast on these
issues.
Hecla Mining Company, headquartered in Coeur d'Alene, Idaho, mines
and processes silver and gold in the United States, Venezuela and
Mexico. A 111-year-old company, Hecla has long been well known in the
mining world and financial markets as a primary silver producer.
Hecla's common and preferred shares are traded on the New York Stock
Exchange under the symbols HL and HL-PrB.
businesswire.com
Statements made which are not historical facts, such as
anticipated payments, production, sales of assets, exploration results
and plans, costs, prices or sales performance are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, and involve a number of risks and uncertainties
that could cause actual results to differ materially from those
projected, anticipated, expected or implied. These risks and
uncertainties include, but are not limited to, metals price
volatility, volatility of metals production, project development risks
and ability to raise financing. Refer to the company's Form 10-Q and
10-K reports for a more detailed discussion of factors that may impact
expected future results. The company undertakes no obligation and has
no intention of updating forward-looking statements.
--30--MRO/se*
CONTACT: Hecla Mining Company
Vicki J. Veltkamp, 208/769-4144
hecla-mining.com
businesswire.com |
