MGP Ingredients, Inc. Provides Update On Annual Meeting of Stockholders
Appellate Court of the State of Kansas Grants Stay of Annual Meeting
ATCHISON, Kan., Aug. 22, 2013 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc.
(Nasdaq:MGPI) (the "Company") today announced that the Court of Appeals of the
State of Kansas granted a previously filed petition for a stay of the
Company's 2013 Annual Meeting of Stockholders. As a result, the meeting, which
was scheduled to convene on August 23, 2013, has been postponed pending
further review by the Court.
About MGP Ingredients
MGP is a leading independent supplier of premium spirits, offering flavor
innovations and custom distillery blends to the beverage alcohol industry. The
Company also produces high quality food grade industrial alcohol and
formulates grain-based starches and proteins into nutritional, as well as
highly functional, innovations for the branded consumer packaged goods
industry. Distilled spirits are produced at facilities in the adjacent towns
of Lawrenceburg and Greendale, Indiana. The Company is headquartered in
Atchison, Kansas, where a variety of distilled alcohol products and food
ingredients are manufactured. For more information, visit mgpingredients.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements as well as historical
information. Forward-looking statements are usually identified by or are
associated with such words as "intend," "plan," "believe," "estimate,"
"expect," "anticipate," "hopeful," "should," "may," "will," "could,"
"encouraged," "opportunities," "potential" and/or the negatives of these terms
or variations of them or similar terminology. They reflect management's
current beliefs and estimates of future economic circumstances, industry
conditions, Company performance and financial results and are not guarantees
of future performance. All such forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those contemplated by the relevant forward-looking statement.
Investors should not place undue reliance upon forward-looking statements and
the Company undertakes no obligation to publicly update or revise any
forward-looking statements. Important factors that could cause actual results
to differ materially from our expectations include, among others: (i)
disruptions in operations at our Atchison or Indiana facilities, (ii) the
availability and cost of grain and fluctuations in energy costs, (iii) the
effectiveness of our hedging strategy, (iv) the competitive environment and
related market conditions, (v) the ability to effectively pass raw material
price increases on to customers, (vi) the ability to effectively operate the
Illinois Corn Processing, LLC ("ICP") joint venture, (vii) our ability to
maintain compliance with all applicable loan agreement covenants, (viii) our
ability to realize operating efficiencies, (ix) actions of governments and (x)
consumer tastes and preferences. For further information on these and other
risks and uncertainties that may affect our business, including risks specific
to our Distillery and Ingredient segments, see Item 1A. Risk Factors of our
Annual Report on Form 10-K for the year ended December 31, 2012, as updated by
Item 1A. Risk Factors of our Quarterly Report on Form 10-Q for the quarterly
period ended June 30, 2013.
Important Additional Information
The definitive proxy statement, any other relevant documents and other
materials filed with the SEC concerning the Company are available free of
charge at www.sec.gov. For a copy of final definitive materials with respect
to 2013 Annual Meeting, including Amendment No. 3 of the supplement to the
proxy statement, please see http://ir.mgpingredients.com/annuals.cfm. Voting
remains open to stockholders of record at the close of business on April 3,
2013. Stockholders should carefully read the definitive proxy statement,
including supplements thereto, before making any voting decision.
The Company and its directors, director nominees, the Company's chief
executive officer and its chief financial officer (the "Participants") may be
deemed to be participants in the solicitation of proxies in connection with
the 2013 Annual Meeting.Information regarding the Participants in the
solicitation is more specifically set forth in the definitive proxy statement
and the proxy statement supplement that were filed by the Company with the SEC
and which are available free of charge from the SEC and the Company, as
CONTACT: Investors & Analysts:
George Zagoudis, Investor Relations
913-360-5441 or email@example.com
Shanae Randolph, Corporate Director of Communications
913-367-1480 or firstname.lastname@example.org
MGP Ingredients, Inc. Logo
Press spacebar to pause and continue. Press esc to stop.