Autobytel Adjourns Annual Meeting of Stockholders until July 3, 2013
IRVINE, Calif. -- June 21, 2013
Autobytel Inc. (Nasdaq: ABTL), a leading provider of online consumer leads and
marketing resources for the automotive industry, announced today that its
Annual Meeting of Stockholders held yesterday has been adjourned until 4:00
p.m. Pacific Daylight Time on Wednesday, July 3, 2013 to provide additional
time for stockholders to vote on or submit proxies with respect to Proposal 3,
the proposal to amend the company’s certificate of incorporation to clarify
the board of directors’ authority to fix the voting rights of any series of
preferred stock created and issued pursuant to the provisions of the company’s
certificate of incorporation authorizing the creation and issuance of one or
more series of preferred stock. Proposal 3 is the only proposal submitted to
stockholders at the Annual Meeting for which the polls remain open. As of June
20, 2013, approximately 87% of outstanding shares had been voted at the Annual
Meeting, with approximately 74% of the shares voted on Proposal 3 cast in
favor of the proposal.
The company also announced that the following proposals were approved by
stockholders at the Annual Meeting:
*Proposal 1: The reelection of Mr. Michael J. Fuchs and Ms. Janet Thompson
as Class III directors of Autobytel’s board of directors.
*Proposal 2: An amendment of Autobytel’s certificate of incorporation to
reduce the number of authorized shares of common stock to 55,000,000.
*Proposal 4: An amendment of Autobytel’s certificate of incorporation to
eliminate provisions establishing the powers, designations, preferences
and rights for series A, B and C Preferred Stock.
*Proposal 5: An advisory vote on the compensation of Autobytel’s named
*Proposal 6: A two-year frequency on advisory votes on the compensation of
Autobytel’s named executive officers. In light of this advisory vote, the
board of directors determined that it will include a stockholder vote on
the compensation of executives every two years until the next required
vote on the frequency of shareholder advisory votes on the compensation of
executives, or the board of directors determines that a different
frequency for that vote is in the best interests of the company and its
*Proposal 7: The appointment of Moss Adams LLP as Autobytel’s independent
registered public accounting firm for 2013 was ratified.
The adjourned meeting will be held at Autobytel’s offices at 18872 MacArthur
Boulevard, Suite 200, in Irvine, California. During the adjournment period,
the company will continue to solicit proxies from its stockholders with
respect to Proposal 3. Stockholders who have already voted or submitted a
proxy to vote their shares on Proposal 3 need not take any action on Proposal
3, although they may, prior to the closing of the polls on Proposal 3 at the
adjourned meeting, change their vote with respect to Proposal 3 by submitting
a new proxy relating to the same shares and bearing a later date, revoking a
previously given proxy or attending the adjourned meeting and voting in
person, although attendance at the meeting will not, by itself, revoke a
proxy. Certificated or record holders may contact our proxy solicitor,
MacKenzie Partners, Inc., toll-free at 1-800-322-2885 for assistance in voting
or changing a previously cast vote. Stockholders holding shares through a
bank, broker or other financial intermediary as custodian should contact that
custodian for assistance in voting or changing a previously cast vote.
The company filed a proxy statement for its 2013 Annual Meeting with the
Securities and Exchange Commission on April 29, 2013, pursuant to which the
company is soliciting additional proxies on Proposal 3. Stockholders are urged
to read the proxy statement and other relevant information on file with the
About Autobytel Inc.
Autobytel Inc., an online leader offering consumer leads and marketing
resources to car dealers and manufacturers and providing consumers with the
information they need to purchase new and used cars, pioneered the automotive
Internet when it launched its flagship website, www.autobytel.com, in 1995.
Autobytel continues to offer innovative products and services to help
consumers buy, and auto dealers and manufacturers sell, more used and new
cars. Autobytel has helped tens of millions of automotive consumers research
vehicles; connected thousands of dealers nationwide with motivated car buyers;
and helped every major automaker market its brand online. Through its flagship
website, network of automotive sites and respected online affiliates,
Autobytel continues its dedication to innovating the industry's highest
quality Internet programs to provide consumers with a comprehensive and
positive automotive research and purchasing experience, and auto dealers,
dealer groups and auto manufacturers with some of the industry's most
productive and cost-effective customer referral and marketing programs.
Investors and other interested parties can receive Autobytel news releases and
invitations to special events by accessing the online registration form at
Chief Financial Officer
Roger Pondel/Laurie Berman
MacKenzie Partners, Inc.
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