-- Company Reports A Number of Investors Changed Their Vote to FOR,
After ISS Revised Recommendation on Proposal to Favorable --
The Female Health Company (FHC) (NASDAQ:FHCO) today provided an update to the votes cast on the proposals related to the proposed merger with Aspen Park Pharmaceuticals, Inc. (APP). As announced last week, FHC's Board of Directors unanimously approved a modification to Proposal #2 (regarding the authorization of shares), reducing the number of shares of common stock to be authorized from 160,000,000 to 77,000,000 and eliminate any increase in the number of shares of authorized preferred stock. As a result of the modification, the proxy advisory firm, Institutional Shareholder Services, Inc. (ISS) revised its recommendation to favorable.
"As we expected, the modification to the proposal, combined with the favorable ISS recommendation, had a positive impact on the votes cast FOR the proposed merger with APP," said O.B. Parrish, Chairman and Chief Executive Officer of FHC. "In fact, over the weekend institutional and other investors that previously voted against Proposal #2 have now voted FOR Proposal #2. We are now closer than ever to receiving the required FOR votes for all of the proposals related to the merger."
"Our team has been actively working to contact shareholders, urging them to vote; these efforts continue," said Mitchell Steiner, Chief Executive Officer of APP and Chief Executive Officer of the combined company upon completion of the merger. "The Special Meeting of Shareholders is scheduled for Friday of this week - we urge all shareholders that have not yet voted to cast their votes FOR the proposals as soon as possible."
As previously announced, the special shareholders meeting has been adjourned to October 14, 2016 at 10 a.m. Central Time at FHC's offices located at 150 North Michigan Avenue, Suite 1580, Chicago, Illinois, 60601.
The FHC Board of Directors continues to recommend that shareholders vote "FOR" the proposals.
During the adjournment, shareholders of record on July 28, 2016 are entitled to and are being requested to vote. FHC's proxy statement and any other materials filed by FHC with the SEC can be obtained free of charge at the SEC's website at www.sec.gov or FHC's website at www.femalehealth.com/investors/merger-documents.
Shareholders are reminded that their vote is important and are encouraged to vote at their earliest convenience. Shareholders who have already voted do not need to recast their votes. Proxies previously submitted will be voted at the reconvened meeting unless properly revoked. Shareholders who have not already voted or wish to change their vote are encouraged to do so using the instructions provided in the definitive proxy statement.
The failure to return the proxy, or vote at the special meeting in person, will have the same effect as a vote "against" the three proposals requiring a supermajority approval. FHC shareholders seeking copies of the definitive proxy statement or with questions about the special meeting may contact FHC's proxy solicitation firm, D.F. King, Inc., at toll-free (866) 751-6309, or at 48 Wall Street, 22 Floor, New York, New York 10005.
To vote, you will need the control number which appears on your proxy card. If you have not received the proxy materials and voting instructions, either electronically or in the mail, contact your broker, if you have one, or Michele Greco at The Female Health Company, 312-213-9859, mgreco@femalehealthcompany.com.
Below are two convenient ways to vote. FHC highly recommends shareholders vote electronically or by phone. Please have your control number ready while voting. The control number is located on your proxy card.
-- Through the Internet, by visiting a website established for that purpose at www.proxyvote.com and following the instructions; or
-- By calling the toll-free number 1-800-690-6903 in the United States, Puerto Rico or Canada on a touch-tone phone and following the recorded instructions.
About The Female Health Company |
