CLEVELAND--(BUSINESS WIRE)--Mace Security International, Inc. (OTCQX: MACE) today announced shareholder voting results for its Annual Shareholders’ Meeting. Approximately 73.11% of all outstanding shares were present or represented by proxy or ballot at the meeting.
The Company reported that shareholders approved the election of each of Mace’s 7 director nominees to serve until the 2019 Annual Shareholders’ Meeting. Each director nominee received affirmative votes from approximately 93.21 percent or more of the shares voted, excluding abstentions and broker non-votes. The results are as follows:
|Denis J. Amato||93.23%|
|Richard A. Barone||93.52%|
|Terrance W. Gainer||95.67%|
|George C. Gehrisch||93.23%|
|John J. McCann||93.21%|
|Cheryl B. McMillan||95.67%|
Shareholders also ratified the appointment of Skoda Minotti & Co. as Mace’s independent public accounting firm for fiscal year 2018, with affirmative votes from approximately 99.80% of the shares that were present in person or represented by proxy at the meeting and entitled to vote.
During the meeting, Mace President and CEO John McCann provided shareholders with an overview of the market, products, and financial results for the first quarter ending March 31, 2018. Mr. McCann commented, “In the First Quarter, Mace achieved a 38% increase in revenues coupled with a 48% increase in gross profits so the trend lines are strong for the company. We are excited about the additions to our board of directors who will assist the company in achieving even greater success.”
The Company also provided shareholders present at the meeting the opportunity to view a Bonus Agreement between the Company and two Director Advisors, and Voting Agreements between MACNFAC, LLC a subsidiary of Roll-Kraft, Inc., owning approximately 20% of the Company’s outstanding shares, and Ancora Advisors, LLC, Richard Barone, and Denis Amato. These agreements, the material terms of which were previously disclosed on the OTCQX and in the Company’s press release dated March 12, 2018, are available for shareholder viewing in their entirety at Mace’s headquarters located at 4400 Carnegie Avenue, Cleveland, OH 44103.
About Mace Security International, Inc.
Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the Company designs and manufactures consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products and Vigilant® Brand alarms, the world-wide leader and number one recognized brand in personal alarms. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® and Take Down® brands.
Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “projected,” “intend to” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, our ability to compete with competitors, dilution to shareholders, and limited capital resources.