IN BRIEF: Somero Enterprises shareholders reject AGM resolutions
Somero Enterprises Inc - Fort Myers, Florida-based concrete-levelling machinery maker - Shareholders at its annual general meeting in Atlantic Mine, Michigan, where Somero has its production centre, vote by more than 50% against all seven resolutions. However, the three directors standing are re-elected under Delaware corporation law. In response to the vote, Somero says its previously announced "thorough review" of the company's governance is "already underway", including consulting with shareholders. "The board also recognises the views expressed by certain shareholders regarding capital allocation and will take those views into account as it continues to assess the appropriate balance between maintaining financial flexibility, investing in the business and returning capital to shareholders," Somero says. Read More