BARCELONA, Spain—On Dec. 8, the Nevada State Court in Clark County, Nevada, in the case Consipio Holding v. Private Media, granted a plaintiffs' motion to change the date of the company's 2011 annual shareholders meeting from December 15, 2011 to January 11, 2012. The plaintiffs wanted to change the meeting date in order to permit the company's shareholders the opportunity to nominate a slate of directors to oppose the slate nominated by the Company's board of directors, as set forth in the Company's Definitive Proxy Statement filed with the Securities and Exchange Commission on November 15 of this year.
In addition to changing the date of the 2011 annual meeting, the court ordered that the location of the 2011 Annual Meeting be changed from Barcelona, Spain to Las Vegas, Nevada, that there will be one independent inspector of elections chosen by the receiver for the company, Eric Johnson, and that Johnson will chair the meeting. The Court also reconfirmed Consipio Holding’s right to vote 5.6 million of Private Media common shares at the meeting.
Due to the change in the meeting date, the court set a new record date of December 15, 2011 in connection with the rescheduled 2011 Annual Meeting. Holders of Private common stock as of the close of business on December 15 will be entitled to vote at the rescheduled meeting.
The proxy card previously provided to shareholders in connection with the originally scheduled meeting will be disregarded. In a statement issued today, Private said it will send new proxy cards to holders of common stock entitled to vote at the meeting.
