Trico Marine Services incumbents remain on board (AP)
Wed, 10 Jun 2009 19:42:41 Etc/GM
Based on a preliminary review of Wednesday's voting, Joseph S. Compofelice, Trico's chief executive, and Ben A. Guill have been elected to the board, the company said.
Trico also said stockholders appear to have voted against electing Christen Sveaas and Age Korsvold, both nominated by Norway's Kistefos AS investor group, plus several Kistefos proposals, including one that would have expanded Trico's board.
IVS Associates, Inc., the independent inspector of elections, expects to issue a preliminary tabulation of the vote results within two weeks.
However, both Trico and Kistefos, Trico's largest stockholder, said the Norwegian investor group won shareholder approval for its proposal that any board nominees up for election in future years will be eligible for a one-year term instead of the current three-year term.
Sveaas, chairman of Kistefos, said part of the reason it was not more successful was "Trico's unusually high two-thirds minimum vote requirement."
In late afternoon trading, Trico shares rose 9 cents, or 2.7 percent, to $3.40.
source: http://biz.yahoo.com/ap/090610/us_trico_marine_services_personnel.html?.v=1