*NEWS*PEACE DECLARED IN OFFICE MAX RIFT

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*NEWS*PEACE DECLARED IN OFFICE MAX RIFT

 user 2005-04-30 at 10:25:00 am Views: 67
  • #9286
     Peace declared in ‘Max shareholder rift

    25 April 2005–Itasca (IL):OfficeMax has settled its proxy contest with shareholder K Capital over the
    election of directors at its annual shareholders’ meeting next month.

    K
    Capital, which is OfficeMax’s third largest shareholder, has agreed to withdraw
    its candidate for election to the board in exchange for an OfficeMax concession
    for an additional independent candidate at the end of June and to give “active
    consideration in good faith” to candidates proposed by K Capital for the
    position.

    OfficeMax’s newly-appointed president/CEO Sam Duncan said: “We
    are pleased that this dispute has been resolved and that OfficeMax will be able
    to spare its shareholders a costly and disruptive proxy contest.”