MFRI Files Supplemental Proxy Materials
NILES, IL -- (Marketwired) -- 06/14/13 -- MFRI, Inc. (NASDAQ: MFRI)
announced today that it filed supplemental proxy materials with the
Securities and Exchange Commission in connection with the Company's
Annual Meeting, scheduled for June 20, 2013 at 10:00 a.m. local time
at the Hilton Rosemont Chicago O'Hare, 5550 North River Road,
Rosemont, Illinois 60018. These materials include two modifications
made by the Company's Board of Directors to the MFRI 2013 Omnibus
Stock Incentive Plan ("Plan") in response to an unfavorable
recommendation from Institutional Shareholder Services Inc. regarding
the proposal to approve the Plan. These modifications are:
-- Reducing the shareholder value transfer by limiting the total number
of shares that may be issued pursuant to the Plan to 750,000.
-- Revising Section 3 to say that no award issued pursuant to the Plan
shall be repriced.
For further information, please contact Michael D. Bennett, Corporate
Secretary of MFRI, Inc. at (847) 966-1000.
MFRI, Inc. is a multi-line company engaged in the following
businesses: pre-insulated specialty piping systems for oil and gas
gathering, district heating and cooling and other applications;
custom-designed industrial filtration products to remove particulates
from dry gas streams; and installation of heating, ventilation and
air conditioning for large buildings.
A Form 8-K including a copy of the amended Plan will be accessible at
http://www.sec.gov/. For more information visit the Company's website
www.mfri.com or contact the Company directly.
Statements and other information contained in this announcement which
can be identified by the use of forward-looking terminology such as
"anticipate," "may," "will," "expect," "continue," "remain,"
"intend," "aim," "should," "prospects," "could," "position,"
"future," "potential," "believes," "plans," "likely," " seems," and
"probable," or the negative thereof or other variations thereon or
comparable terminology, constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934 as
amended and are subject to the safe harbors created thereby. These
statements should be c
onsidered as subject to the many risks and
uncertainties that exist in the Company's operations and business
environment. Such risks and uncertainties include, but are not
limited to, economic conditions, market demand and pricing,
competitive and cost factors, raw material availability and prices,
global interest rates, currency exchange rates, labor relations and
other risk factors.
7720 North Lehigh Avenue
Niles, Illinois 60714-3491
Phone (847) 966-1000
Fax (847) 966-8563
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