TEMPE, Ariz.--(BUSINESS WIRE)--Mobile Mini, Inc. (Nasdaq GS:MINI) announced today that its Board of Directors unanimously voted in favor of amending the Company's certificate of incorporation to declassify the Board, eliminating the staggered election of Board members. Approval of the amendment will require support by the holders of a majority of outstanding shares of the Company's common stock at the Company's next annual meeting of stockholders to be held on April 30, 2015 (the "2015 Annual Meeting").
Declassification of the Board will permit Mobile Mini’s stockholders to vote annually on the election of all Directors. Currently, the Company's three classes of Directors are elected for staggered three-year terms. If stockholders approve the proposal to declassify the Board, Directors would be elected to one-year terms as their existing terms expire beginning with the Directors elected at the Company’s 2015 Annual Meeting.
The full text of the proposal will be included in the Company’s proxy statement to be filed with the Securities and Exchange Commission prior to the 2015 Annual Meeting.
"The decision to declassify the Board is consistent with Mobile Mini’s commitment to sound corporate governance," said Michael Watts, Mobile Mini’s Chairman. "The Board believes these proactive steps to amend the Company's certificate of incorporation are in the best interest of the Company and its stockholders."
Erik Olsson, Mobile Mini President and Chief Executive Officer said: “We fully support the Board on this important change and believe it reflects both Mobile Mini’s ongoing commitment to corporate governance and management’s efforts to proactively engage our stockholders on important issues relating to corporate governance.”
About Mobile Mini
Mobile Mini, Inc. is the world’s leading provider of portable storage solutions. Mobile Mini is included on the Russell 2000® and 3000® Indexes and the S&P Small Cap Index. For more information visit www.mobilemini.com.
Forward Looking Statements
This news release contains certain “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. These forward-looking statements are based on current information and expectations, which involve a number of risks and uncertainties that could cause actual results to differ materially. The forward-looking statements herein include statements regarding the Company’s ability to obtain stockholder approval to amend the Company’s certificate of incorporation to declassify the Board and permit stockholders to vote annually on the election of all Directors and the Company’s ongoing commitment to and efforts relating to corporate governance. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “will,” “expand,” “establish,” “expect,” “intend,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology and expressions to identify forward-looking statements. Therefore, the Company cautions you to not unduly rely on these forward-looking statements and encourages you to understand the risks and uncertainties described herein and as stated in the “Risk Factors” and elsewhere in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, as well as the Company’s other reports filed with the United States Securities and Exchange Commission.