Allison Transmission Provides Update on 2016 Annual Meeting
2016-03-25 Source：www.chinabuses.org
Summarize：Allison Transmission Holdings Inc. (ALSN) ("Allison" or "the Company") today announced that Ashe Capital Management, LP ("Ashe"), an investment partnership owning 5.9 percent of the outstanding shares of Allison, has withdrawn its director nomination and governance proposals related to the Company's 2016 Annual Meeting of Stockholders.
www.chinabuses.org: Allison Transmission Holdings Inc. (ALSN) ("Allison" or "the Company") today announced that Ashe Capital Management, LP ("Ashe"), an investment partnership owning 5.9 percent of the outstanding shares of Allison, has withdrawn its director nomination and governance proposals related to the Company's 2016 Annual Meeting of Stockholders.
Lawrence E. Dewey, Chairman of the Board of Directors and Chief Executive Officer of Allison, said, "We appreciate the active dialogue we have had with Ashe since they first invested in Allison, and are pleased that we now have the support of Ashe at the 2016 Annual Meeting. In announcing three new independent directors and implementing several corporate governance enhancements, the Board carefully considered the views and input from Allison stockholders, including Ashe, and we believe that the interests of Allison and all stockholders are closely aligned. Allison's Board and management team are committed to maintaining an open and constructive engagement with our stockholders and will continue to take actions to grow the Company and create value."
William Crowley, co-Founder and Chief Executive Officer of Ashe, said, "We commend the Board of Allison Transmission for adopting these best-in-class governance policies, which are responsive to what we proposed, and for adding two qualified independent directors, and most importantly, nominating another stockholder to the Board. The combination of two long-term stockholders, Greg Spivy and Jamie Star, serving as directors creates a powerful and important alignment between Allison stockholders and the Board. Accordingly, we are withdrawing all proposals and our director nomination for election to the Board at the 2016 Annual Meeting. We believe Allison has the potential to create significant value, and we look forward to continuing to interact closely with the Allison Board and management team."
The Company's 2016 Annual Meeting is scheduled for May 12, 2016. Allison's definitive proxy statement will be mailed in advance of the 2016 Annual Meeting to stockholders of record as of March 28, 2016.
ABOUT ALLISON TRANSMISSION
Allison Transmission (ALSN) is the world's largest manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles and is a leader in hybrid-propulsion systems for city buses. Allison transmissions are used in a variety of applications including refuse, construction, fire, distribution, bus, motorhomes, defense and energy. Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA and employs approximately 2,700 people worldwide. With a market presence in more than 80 countries, Allison has regional headquarters in the Netherlands, China and Brazil with manufacturing facilities in the U.S., Hungary and India. Allison also has approximately 1,400 independent distributor and dealer locations worldwide. For more information, visit www.allisontransmission.com.
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