HIGH POINT, N.C., March 24, 2020 (GLOBE NEWSWIRE) -- North State Telecommunications Corporation (NorthState), a fiber optic network, cloud and IT services and cybersecurity provider, today provided an update regarding its annual meeting of shareholders scheduled for Wednesday, April 1 at Embassy Suites, 204 Centreport Drive, Greensboro, North Carolina. The only proposals for approval by shareholders at the meeting are the election of three directors and the ratification of the selection of the company’s independent auditor.
Royster Tucker III, president, chief executive officer and a director of NorthState, said, “We are still planning to hold the annual meeting on April 1 as announced, but it is now clear that our typical annual meeting is not appropriate in the current health environment. Given today’s public health concerns, the only directors present will be Pat Harman, who is our Chairman of the Board, and myself. The only other member of management present will be Lynn Welborn, our Corporate Secretary. The meeting will be short and to the point. We will not make refreshments available before the meeting as we previously announced, and we will not have a management presentation or question and answer session.”
Mr. Tucker continued with the following advice to shareholders: “In deciding whether to attend the annual meeting, we recommend that our shareholders take into account the current health environment, the risks to your personal health, the health of others and the advice of health authorities to use social distancing. We have sent our shareholders a proxy card with instructions so they can cast their votes without attending the meeting. We encourage them to vote by proxy card.”
Mr. Tucker noted in conclusion, “We regret having to give this direction, but many of our long-term shareholders who regularly attend the meeting are in the higher risk category for COVID-19. After careful thought, we decided that we needed to give them our candid advice, which applies not only to them but to all of our shareholders.”
NorthState notes that governmental or other actions between now and the annual meeting may affect the meeting and urges its shareholders to check the Investor Relations section of the NorthState website regularly for further updates. Go to www.northstate.net/investor-relations/.
About NorthState
NorthState is a technology company focused on inspiring the Internet-driven lifestyle through high-touch experiences. Its fiber-delivered, ultrafast Internet and Internet-driven applications enable residential customers and businesses to efficiently and securely take advantage of the Internet. Through its Technology Solutions business unit, NorthState provides data center colocation, customized cloud and IT solutions, managed disaster recovery services, cybersecurity, managed security and unified communications. For more information, visit northstate.net.
Special Note from NorthState Regarding Forward-Looking Statements
Any statements contained in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Such forward-looking statements reflect our current expectations about the annual meeting and our related plans, which are subject to known and unknown risks, uncertainties and factors that may cause actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. We do not undertake any obligation to update or review any forward-looking information, whether as a result of new information, future events or otherwise. Important factors with respect to any such forward-looking statements, including certain risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, include: the risks of possible COVID-19-related actions by governmental authorities or the venue for the annual meeting that would affect our plans for the meeting; the uncertainty caused by the coronavirus pandemic, the effects of which are difficult if not impossible to predict; and other unforeseen difficulties that may occur. These risks and uncertainties are not intended to represent a complete list of all risks and uncertainties inherent in our business.
Contact:
Investor Relations at 336-821-8801 and investor.relations@nscom.com