VALOR Communications Group, Inc. Reports Voting Results on Company Proposals from 2006 Annual Stockholders Meeting
June 27 2006 - 5:05PM
PR Newswire (US)
Stockholders Vote in Favor of All Merger-Related and Other
Proposals IRVING, Texas, June 27 /PRNewswire-FirstCall/ -- VALOR
Communications Group, Inc. (NYSE:VCG) today released the voting
results for proposals presented at its 2006 annual meeting of
stockholders, which was held on June 27, 2006. VALOR's stockholders
overwhelmingly approved all the proposals related to the merger of
VALOR with Alltel Holding Corp., the wireline division of Alltel.
The proposals approved included: adopting the merger agreement and
approving the merger; increasing the authorized shares of VALOR
common stock; and issuing VALOR common stock to Alltel
stockholders. "We are very pleased that our stockholders have
continued to show their support by approving the merger of VALOR
with the wireline division of Alltel, which we expect will close
next month," commented Jack Mueller, president and chief executive
officer of VALOR Communications Group, Inc. "With the combined
talent of our two companies, I believe the Company can continue its
record of success and deliver value to stockholders." In addition,
VALOR stockholders adopted and approved the 2006 Equity Incentive
Plan, elected eleven (11) directors and ratified the appointment of
Deloitte & Touche LLP as VALOR's independent auditors. About
VALOR Communications Group VALOR Communications Group is one of the
largest providers of telecommunications services in rural
communities in the southwestern United States. The company, through
its subsidiary VALOR Telecom, offers to residential, business and
government customers a wide range of telecommunications services,
including: local exchange telephone services, which covers basic
dial-tone service as well as enhanced services, such as caller
identification, voicemail and call waiting; long distance services;
and data services, such as providing digital subscriber lines.
VALOR Communications Group is headquartered in Irving, Texas. For
more information, visit http://www.valortelecom.com/ . Safe Harbor
Statement Certain matters discussed in this press release may
constitute "forward- looking statements" within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. Words such as "believes,"
"anticipates," "expects," "intends," "estimates," "projects" and
other similar expressions, which are predictions of or indicate
future events and trends, typically identify forward-looking
statements. Statements in this press release regarding Valor
Communications Group's business that are not historical facts,
including the Company's intention to pay quarterly dividends, are
forward-looking statements. Forward-looking statements involve
risks and uncertainties that could cause actual results or the
timing of events to differ materially from those described in the
forward-looking statements. We cannot assure you that the
expectations discussed in these forward-looking statements will be
attained. Some of the factors that could cause actual results or
the timing of certain events to differ from those described in
these forward-looking statements include, without limitation: our
leverage and debt service obligations; the terms of our credit
facility and our rights and obligations there under; any adverse
changes in government regulation; the risk that we may not be able
to retain existing customers or obtain new customers; the risk of
increased competition in the markets we serve; our financial
position, results of operations and availability of capital; and
other risks detailed from time to time in our filings with the
Securities and Exchange Commission, including, without limitation,
the risks described in our proxy statement/prospectus-information
statement relating to our merger with Alltel Wireline filed with
the Securities & Exchange Commission on May 26, 2006 and in our
Annual Report on Form 10-K filed with the Securities and Exchange
Commission on February 28, 2006. We disclaim any obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, the occurrence of future events or
otherwise, except as required by law. DATASOURCE: VALOR
Communications Group, Inc. CONTACT: investor relations, Keith
Terreri or Sheryl Seyer, +1-972-373-1296, or fax, +1-972-373-1150,
or , or media, Cynthia T. Cruz, +1-972-373-1134, or fax,
+1-469-420-2540, or , all of VALOR Communications Group, Inc. Web
site: http://www.valortelecom.com/
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