Citi Trends Announces Preliminary Results of 2017 Annual Meeting of Stockholders
May 24 2017 - 10:07AM
Business Wire
Citi Trends, Inc. (“Citi Trends” or the “Company”) (NASDAQ:CTRN)
today announced that, according to preliminary voting tabulations,
stockholders have re-elected Barbara Levy and R. Edward Anderson to
the Board of Directors, and also elected Jonathan Duskin to the
Company’s Board of Directors. Additionally, stockholders voted in
favor of all other proposals submitted for a vote at the Annual
Meeting. The vote is subject to certification by IVS Associates
Inc., the independent inspectors of election.
Citi Trends’ Board of Directors issued the following
statement:
“We thank all of our stockholders for their participation
throughout this process. We look forward to working collaboratively
with our new and existing directors to maximize shareholder value
for all stockholders.”
“We are exceptionally grateful for Larry Hyatt’s 11 years of
service on the Board. He has played a significant role in Citi
Trends’ success, including its renewed strength following the
strategic pivot, in his roles as a Director, Chairman of the Audit
Committee and as a member of the Compensation and the Nominating
and Corporate Governance Committees. We thank him on behalf of all
our stockholders for his service to the Company over the
years.”
Citi Trends will file final voting results with the Securities
& Exchange Commission on a Form 8-K once they are certified by
the independent inspector of elections, which will be available at
the SEC's web site or the Investor Relations section of Citi
Trends’ corporate website.
About Citi Trends
Citi Trends, Inc. is a value-priced retailer of urban fashion
apparel and accessories for the entire family. The Company operates
538 stores located in 31 states. Citi Trends' website address is
www.cititrends.com. CTRN-G
Forward-Looking
Statements
All statements other than historical facts contained in this
news release, including statements regarding our future financial
results and position, business policy and plans, objectives of
management for future operations and our intentions and ability to
pay dividends and complete any share repurchases, are
forward-looking statements that are subject to material risks and
uncertainties. The words "believe," "may," "could," "plans,"
"estimate," "continue," "anticipate," "intend," "expect" and
similar expressions, as they relate to Citi Trends, are intended to
identify forward-looking statements. Investors are cautioned that
any such forward-looking statements are not guarantees of future
performance or results and are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Actual results or developments may differ materially from those
included in the forward-looking statements as a result of various
factors which are discussed in Citi Trends filings with the
Securities and Exchange Commission. These risks and uncertainties
include, but are not limited to, uncertainties relating to economic
conditions, growth risks, consumer spending patterns, competition
within the industry, competition in our markets, the ability to
anticipate and respond to fashion trends and the outcome of our
current proxy fight and any other actions of activist stockholders.
Any forward-looking statements by the Company with respect to the
Company’s intention to declare and pay dividends, repurchase shares
pursuant to the share repurchase program, or otherwise, are
intended to speak only as of the date such statements are made.
Except as required by applicable law, including the securities laws
of the United States and the rules and regulations of the
Securities and Exchange Commission, Citi Trends does not undertake
to publicly update any forward-looking statements in this news
release or with respect to matters described herein, whether as a
result of any new information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170524005787/en/
Media:ICRPhil
Denning646-277-1258phil.denning@icrinc.comorInvestors:Okapi
PartnersBruce Goldfarb, Chuck Garske and Teresa
Huang212-297-0720
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