Attached files
file | filename |
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8-K - FORM 8K- DECEMBER 7, 2009 - ALICO, INC. | form8k.htm |
EX-99.2 - CORPORATE GOVERNANCE LETTER RESTATED TO ALICO - ALICO, INC. | ex99-2.htm |
ALICO
RECEIVES LETTER FROM CONTROLLING SHAREHOLDER REAFFIRMING COMMITMENT TO CORPORATE
GOVERNANCE PRACTICES
LaBelle,
FL, December 7, 2009 -- Alico, Inc. (NASDAQ:ALCO), a land management company,
received an amended governance letter from Atlantic Blue Group, Inc.
(Atlanticblue), a 51% shareholder, expressing its ongoing commitment to certain
corporate governance practices.
In the
letter, Atlanticblue reaffirmed its commitment to:
·
|
Vote
its shares to elect director nominees such that a majority of Alico’s
Board of Directors is comprised of independent directors as defined under
NASDAQ guidelines.
|
·
|
Not
acquire more than 55% of Alico’s outstanding common stock on a fully
diluted basis.
|
·
|
Not
engage in any related party transaction with Alico or its subsidiaries
unless such transaction is approved by a majority of the independent
directors (or a committee comprised entirely of independent
directors).
|
John R
Alexander, Chairman of Alico stated, “We are pleased to continue to work with
our majority shareholder to move the Company forward utilizing sound governance
practices.”
About
Alico, Inc.
Alico,
Inc., a land management company operating in Central and Southwest Florida, owns
approximately 135,500 acres of land located in Collier, Glades, Hendry, Lee and
Polk counties. Alico is involved in various agricultural operations and real
estate operations. Alico's mission is to grow its asset values through its
agricultural and real estate activities to produce superior long-term returns
for its shareholders.
For
Further Information Contact:
Steven M.
Smith
La Belle,
Florida
(863)
675-2966
Statements
in this press release that are not statements of historical or current fact
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
include statements about hopes and desires and involve known and unknown risks,
uncertainties and other unknown factors that could cause the actual results of
the Company to be materially different from the historical results or from any
future results expressed or implied by such forward-looking statements. The
forward-looking statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in the Company's
reports and registration statements filed with the Securities and Exchange
Commission.