Canterbury Park Holding Corporation (NASDAQ: CPHC) (the “Company”) today announced results of voting at its Annual Shareholders’ Meeting held on June 28, 2016. Approximately 94.8 % of all outstanding shares were present or represented by proxy at the meeting.

The Company reported that shareholders approved the election of each of the six director nominees recommended by the Board: Curtis A. Sampson, Dale H. Schenian, Randall D. Sampson, Patrick R. Cruzen, Burton F. Dalhberg, and Carin J. Offerman. Each director nominee received affirmative votes from approximately 94% or more of the shares voted, excluding abstentions and broker non-votes.

Shareholders also approved each of the following four proposals presented for shareholder action at the Annual Meeting:

  • Shareholders approved the reorganization of the Company’s business into a holding company structure pursuant to an Agreement and Plan of Merger, dated as of March 1, 2016, among the Company, New Canterbury Park Holding, a Minnesota corporation, and Canterbury Park Entertainment, LLC, a Minnesota limited liability corporation. Of the shares voted on this proposal, 99% were voted in favor of this proposal, which represented more than 76% of all outstanding shares.
  • Shareholders approved the acquisition of shares of Company common stock in 2015 by investment advisory firms affiliated with Mario J. Gabelli (the “Gabelli Group”) that constituted a Control Share Acquisition under the Minnesota Control Share Acquisition Act (“CSAA”) that raised their ownership stake in the Company from approximately 18% to approximately 24% of all Company shares. The Gabelli Group’s Control Share Acquisition was approved by 96% of all shares voted at the meeting and, in a separate vote required by the CSAA, by approximately 57% of all outstanding shares held by persons other than the Gabelli Group and executive officers of the Company considered be to be Interested Shareholders under the CSAA for purposes of the second vote.
  • Shareholders also ratified Wipfli LLP as the Company’s independent registered public accounting firm, with affirmative votes from approximately 99% of the shares that were present in person or represented by proxy at the meeting and entitled to vote.
  • Finally, on an advisory basis, shareholders approved the executive compensation policies and practices of the Company as described in its 2016 proxy statement, with approximately 98% of the shares present in person or represented by proxy voting in favor of this proposal.

The official voting results for each of these proposals will be disclosed in a Form 8-K Report with the Securities and Exchange Commission.

Following the shareholders’ meeting, President & CEO Randy Sampson reported to the shareholders present on the Company’s business including its real estate development activities, by means of a power point presentation. This power point presentation can be viewed at www.canterburypark.com/investorrelations.

About Canterbury Park:Canterbury Park Holding Corporation owns and operates Canterbury Park Racetrack, Minnesota’s only thoroughbred and quarter horse racing facility. The Company’s 69-day 2016 live race meet begins on May 20 and ends September 17. In addition, Canterbury Park’s Card Casino hosts “unbanked” card games 24 hours a day, seven days a week, offering both poker and table games. The Company also conducts year-round wagering on simulcast horse racing and hosts a variety of other entertainment and special events at its facility in Shakopee, Minnesota. For more information about the Company, please visit www.canterburypark.com.

Cautionary Statement:

From time-to-time, in reports filed with the Securities and Exchange Commission, in press releases, and in other communications to shareholders or the investing public, we may make forward-looking statements concerning possible or anticipated future financial performance, prospective business activities or plans which are typically preceded by words such as “believes,” “expects,” “anticipates,” “intends” or similar expressions. For such forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in federal securities laws. Shareholders and the investing public should understand that such forward-looking statements are subject to risks and uncertainties which could affect our actual results and cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to: material fluctuations in attendance at the Racetrack, decline in interest in wagering on horse races at the Racetrack, at other tracks, or on unbanked card games offered at the Card Casino, competition from other venues offering unbanked card games or other forms of wagering, a greater than anticipated expenses or lower than anticipated return on our development of our underutilized land. competition from other sports and entertainment options, increases in compensation and employee benefit costs, increases in the percentage of revenues allocated for purse fund payments, higher than expected expenses related to new marketing initiatives, the impact of wagering products and technologies introduced by competitors, legislative and regulatory decisions and changes, the general health of the gaming sector, and other factors that are beyond our ability to control or predict.

Canterbury Park Holding CorporationRandy Sampson, 952-445-7223

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