Message #7 From:
NewsBot Date: September 26, 2005 02:15:00 AM
UNCN News Unico, Inc. Board of Directors Issues Statement upon Second Adjournment of Special Meeting of Shareholders and Sets New Meeting Date; Company Retains Shareholder Communication Firm for Proxy Effort
SAN DIEGO--(BUSINESS WIRE)--Sept. 26, 2005--Unico, Incorporated's (OTCBB:UNCN) Board of Directors has announced that the Special Meeting of Shareholders held on Friday, September 23, 2005 was adjourned to October 11, 2005 at 1:00 p.m. PDT at the Hilton San Diego Mission Valley located at 901 Camino del Rio South, San Diego, California, 92108. Since a quorum of shareholders was not present on September 23, 2005, no valid shareholder business could be conducted and the meeting was adjourned until October 11, 2005.
The Board issued a statement to all shareholders that reads as follows:
"The special meeting of shareholders has been adjourned to October
11, 2005 due to a lack of quorum. Your vote is extremely crucial in
establishing a quorum for the Special Meeting. Please follow the
instructions below and vote your shares.
No matter how many or how few shares you may own, your vote is
important to the Company. If you have not already done so, please vote
utilizing the telephone or Internet options described on your voting
instruction form. You may also vote by signing, dating and returning
your voting instruction form today and help your company avoid the
expense of further solicitation.
Thank you in advance for your cooperation.
Very truly yours,
Unico, Incorporated
Board of Directors"
The Board encourages all shareholders as of the August 5, 2005 record date who have not yet voted to participate in the proxy voting process. The Company plans to mail out additional voting instruction cards for those shareholders who have either not received one or who request to have one replaced in order to vote.
The Company has also retained Georgeson Shareholder Communications Inc., a leading proxy solicitation and shareholder response service company, to assist shareholders in completing proxies. If shareholders have any questions or need assistance in voting their shares, they can contact Georgeson Shareholder Communications Inc. toll free 1-800-790-6795. Banks and brokers can call 212-440-9800.
As of August 5, 2005, there were 498,427,896 shares of Unico's common stock issued and outstanding. As a result, a total of at least 249,213,949 shares must be represented in person and/or by proxy at the meeting in order for a quorum to be present by the October 11, 2005 deadline.
"The Special Meeting of Shareholders has again been adjourned, this time to October 11, 2005, which will be our last opportunity under this proxy statement. We certainly want to avoid having to re-start the process and incur additional expense, as well as a loss of time for the Company to move forward," commented Mark A. Lopez, Chief Executive Officer of Unico, Inc.
The proposal to be considered at the Special Meeting of Shareholders is for the Company to withdraw its election to be treated as a Business Development Company pursuant to Section 54(c) under the Investment Company Act.
About the Company
Unico Inc. filed an N-54 election with the SEC on July 12, 2004 to become a Business Development Company, pursuant to Section 54 of the Investment Company Act of 1940. The Company's investment portfolio currently consists of three subsidiaries, the Silver Bell Mining Company, Inc., the Deer Trail Mining Company, LLC and the Bromide Basin Mining Company, LLC. The core focus of Unico is to provide the capital and management assistance necessary for its subsidiaries to return value to Unico shareholders.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the company and its operations are included on certain forms the company files with the Securities and Exchange Commission.
