Stockholders of record at the close of business on
Stockholders who hold their shares in “street name,” which means the shares are held of record by a broker, bank or nominee, should contact their broker, bank or nominee to ensure that votes related to the shares beneficially owned by such stockholders are properly counted. In this regard, holders must provide the broker, bank or nominee with instructions on how to vote the shares or, if such a stockholder wishes to attend the meeting and vote in person, obtain a proxy from the broker, bank or nominee.
Additionally, Quartet advises holders of its securities to move these securities into accounts which do not permit the lending of securities, so called cash accounts or segregated accounts, and out of accounts that permit the lending of securities, such as margin accounts. These steps are designed to ensure that votes related to common stock beneficially owned by stockholders are properly counted. Beneficial owners of common stock that have been lent out (either with or without the beneficial owners’ knowledge) are not permitted to vote those shares.
Information on Seeking Conversion Rights
As indicated in the definitive proxy statement/prospectus, pursuant to Quartet’s amended and restated certificate of incorporation, a record holder of shares of Quartet’s common stock issued in its initial public offering may, if the stockholder affirmatively votes on the business combination, demand that Quartet convert such shares into cash. Demand may be made by checking the box on the proxy card provided for that purpose and returning the proxy card in accordance with the instructions provided. A holder exercising his conversion rights must tender his stock certificate to Quartet’s transfer agent prior to the time that a vote is taken with respect to the proposed merger. A record holder of Quartet common stock may tender his shares by either delivering the stock certificate to Quartet’s transfer agent or by delivering the shares electronically using Depository Trust Company’s DWAC (Deposit Withdrawal at Custodian) System. Questions concerning the procedure to have shares converted should be directed to Quartet’s transfer agent,
For additional information relating to the matters to be acted on at the special meeting as well as the conditions to exercising conversion rights, investors are urged to read the definitive proxy statement/prospectus filed by Quartet with the
Not a Proxy Statement
This press release is not a proxy statement or a solicitation of proxies from the holders of common stock of Quartet and does not constitute an offer of any securities of Quartet for sale. Any solicitation of proxies will be made only by the definitive proxy statement/prospectus of Quartet that will be mailed to all stockholders of record on the record date. Investors and security holders of Quartet are urged to read the definitive proxy statement/prospectus and appendices thereto because they will contain important information about Quartet and Pangaea.
Pangaea provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The Company addresses the transportation needs of its customers with a comprehensive set of services and activities, including cargo loading, cargo discharge, vessel chartering, and voyage planning. Learn more at www.pangaeals.com
Quartet was incorporated in Delaware on
Safe Harbor Language
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Pangaea’s and Quartet’s managements’ current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of Pangaea’s business. These risks, uncertainties and contingencies include: business conditions; weather and natural disasters; changing interpretations of GAAP; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments; requirements or changes adversely affecting the business in which Pangaea is engaged; fluctuations in customer demand; management of rapid growth; intensity of competition from other providers of logistics and shipping services; general economic conditions; geopolitical events and regulatory changes; the possibility that the merger does not close, including due to the failure to receive required security holder approvals or the failure of other closing conditions; and other factors set forth in Quartet’s filings with the
Chairman and CEO
Chief Financial Officer
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