– Resounding Stockholder Support for Special Meeting
– Special Meeting to Occur on June 30, 2022
EL SEGUNDO, Calif., May 25, 2022 /PRNewswire/ — Eileen P. Drake (the CEO of Aerojet Rocketdyne AJRD) and the other members of the Committee For Aerojet Rocketdyne Shareholders and Value Maximization today announced that they delivered a demand for a special meeting of stockholders to elect a new Board of Directors. The measure required the support of 25% of the outstanding shares. Since the Committee began disseminating materials to stockholders three weeks ago, we have already received the consents from holders representing over 42% of the outstanding shares as of today – so we are now proceeding to the special meeting of stockholders, which will be held on June 30, 2022.
Ms. Drake commented: “We are thrilled to have the resounding support of our fellow shareholders to call a special meeting at which they will have the opportunity to elect a new board of directors that is not controlled by Steel Partners and Warren Lichtenstein. Aerojet Rocketdyne shareholders have delivered today a clear and unequivocal message to Mr. Lichtenstein that he and Steel Partners’ coffers will not be able to stand in the way of shareholder democracy. We are committed to seeing this process through and we look forward to continued engagement with shareholders regarding our independent slate and the bright future ahead for Aerojet Rocketdyne.”
The record date for the special meeting of stockholders will be the close of business on May 31, 2022.
This communication is being sent in our individual capacity, and not on or behalf of Aerojet Rocketdyne, Inc (the “Company”). No Company resources were used in connection with these materials. Eileen P. Drake, General Kevin Chilton, USAF (Ret.), General Lance Lord, USAF (Ret.) and Thomas Corcoran (the “Incumbent…