ModusLink Announces Adjournment of Annual Meeting with Respect to Proposal to Declassify Board of Directors

  ModusLink Announces Adjournment of Annual Meeting with Respect to Proposal
  to Declassify Board of Directors

Business Wire

WALTHAM, Mass. -- January 14, 2014

ModusLink Global Solutions™, Inc. (NASDAQ: MLNK) announced today that it will
further adjourn its 2013 Annual Meeting to allow additional time for
stockholders to vote on Proposal 2. The Annual Meeting will reconvene on
February 12, 2014 at 9:00 a.m. Eastern time at the offices of Olshan Frome
Wolosky LLP, located at 65 East 55th Street, New York, NY 10022 for the
purpose of holding a stockholder vote on Proposal 2.

Proposal 2 would eliminate the classification of the Board of Directors and
provide instead for the annual election of Directors commencing with the
Company’s 2014 annual meeting of stockholders, which will be held after the
fiscal year ending on July31, 2014. The proposal is described in detail in
the Company’s definitive proxy statement for the Annual Meeting as filed with
the Securities and Exchange Commission on October 29, 2013. As of January 14,
2014, Proposal 2 had the support of approximately 70% of the Company’s
outstanding shares. Under the Company’s by-laws the proposal requires support
from 75% of the outstanding shares.

During the period of the adjournment, ModusLink will continue to solicit
proxies from its stockholders with respect to Proposal 2. Stockholders who
have already voted need not take any action on the proposal, although they may
change their vote for the proposal by executing a new proxy, revoking a
previously given proxy, in the manner set forth in ModusLink’s proxy

ModusLink encourages all stockholders who have not yet voted on Proposal 2 to
do so before February 12, 2014. If stockholders need any assistance in voting
their shares, please contact our proxy solicitor, MacKenzie Partners, Inc. at
800-322-2885 or via email at

This information is being provided to stockholders in addition to ModusLink’s
definitive proxy statement, filed with the Securities and Exchange Commission
(the “SEC”) on October29, 2013. Copies of ModusLink’s definitive proxy
statement and any other materials filed by the Company with the SEC can be
obtained free of charge at the SEC’s website at or from the
Company’s website at Please read the complete proxy
statement, the accompanying materials and any additional proxy soliciting
materials that ModusLink may file with the SEC carefully before you make a
voting decision as they contain important information. Only stockholders who
held the Company’s common stock as of the record date of October21, 2013 are
eligible to vote. ModusLink, its directors and certain of its executive
officers may be deemed to be participants in the solicitation of proxies from
stockholders. Detailed information regarding the identity of the potential
participants, and their direct or indirect interests, by security holdings or
otherwise, is set forth in ModusLink’s definitive proxy statement.

About ModusLink Global Solutions

ModusLink Global Solutions, Inc. (NASDAQ: MLNK) executes comprehensive supply
chain and logistics services that are designed to improve clients’ revenue,
cost, sustainability and customer experience objectives. ModusLink is a
trusted and integrated provider to the world’s leading companies in consumer
electronics, communications, computing, medical devices, software and retail.
The Company’s operating infrastructure annually supports more than $80 billion
of its clients’ revenue and manages approximately 451million product
shipments through more than 25 sites across North America, Europe, and the
Asia/Pacific region. For details on ModusLink’s flexible and scalable
solutions visit and, the blog for
supply chain professionals.

ModusLink Global Solutions is a registered trademark of ModusLink Global
Solutions, Inc. All other company names and products are trademarks or
registered trademarks of their respective companies.

This release contains forward-looking statements, which address a variety of
subjects. All statements other than statements of historical fact, including
without limitation, those with respect to the Company’s goals, plans,
expectations and strategies set forth herein are forward-looking statements.
The following important factors and uncertainties, among others, could cause
actual results to differ materially from those described in these
forward-looking statements: the Company’s ability to execute on its business
strategy, including its cost reduction plans and the continued and increased
demand for and market acceptance of its services, which could negatively
affect the Company’s ability to meet its revenue, operating income and cost
savings targets, maintain and improve its cash position, expand its operations
and revenue, lower its costs, improve its gross margins, reach and sustain
profitability, reach its long-term objectives and operate optimally;
uncertainties and volatility relating to global economic conditions,
especially in the technology sector; unanticipated declines in, or failure to
achieve the anticipated levels of, the demand for our clients’ products;
potential strains on managerial and operational resources resulting from
expanded operations; failure to realize expected benefits of restructuring and
cost-cutting actions; inability to expand operations in accordance with the
Company’s business strategy; insufficient cash balances that could prevent the
Company from meeting business or investment goals; difficulties integrating
technologies, operations and personnel in accordance with the Company’s
business strategy; customer losses; demand variability in supply chain
management clients, to which the Company sells on a purchase order basis
rather than pursuant to contracts with minimum purchase requirements; risks
inherent with conducting international operations; changes in tax rates in
jurisdictions where profits are determined to be earned and taxed; changes in
estimates of tax credits, benefits and deductions; unfavorable resolution of
issues arising from tax audits with various tax authorities, including payment
of interest and penalties and the ability to realize deferred tax assets;
adverse conditions in the mergers and acquisitions or IPO markets, which could
prevent liquidity for securities in the Company’s venture capital portfolio;
and increased competition and technological changes in the markets in which
the Company competes. For a detailed discussion of cautionary statements that
may affect the Company’s future results of operations and financial results,
please refer to the Company’s filings with the Securities and Exchange
Commission, including the Company’s most recent Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q. Forward-looking statements represent
management’s current expectations and are inherently uncertain. We do not
undertake any obligation to update forward-looking statements made by us.


ModusLink Global Solutions, Inc.
Robert Joyce, 781-663-5120
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