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CertainTeed Corporation Issues Statement on BTI Annual Meeting

  • Wednesday, 24th May 2000
  • Reading time: less than a minute

CertainTeed Corporation issued the following statement on Brunswick Technologies, Inc.’s failure to get the required shareholder vote for the proposed amendment to the 1997 BTI Equity Incentive Plan at BTI’s Annual Shareholders Meeting: “We are pleased with the support we received from BTI shareholders. Today’s preliminary results are a clear indication that BTI shareholders recognized that the adoption of this amendment could have adversely affected their ability to obtain maximum value for their shares.” CertainTeed noted that the defeat of the proposed Plan amendment will satisfy one of the conditions to the completion of its tender offer of BTI shares. CertainTeed is extending its tender offer for all outstanding shares, including the associated rights to purchase preferred stock of BTI from the prior expiration date of midnight on May 18, 2000, to midnight, New York City time, on June 16, 2000, to coincide with the date of the Special Meeting of Shareholders.

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