ANN ARBOR, Mich., April 21, 2016 /PRNewswire/ -- Arotech
Corporation (Nasdaq GM: ARTX) today announced that
Institutional Shareholder Services ("ISS") has joined another
leading independent proxy advisory firm in recommending that
shareholders vote "FOR" on all three proposals being presented by
Arotech's Board of Directors at the Annual Meeting of Shareholders
to be held on May 4, 2016.
Specifically, ISS has recommended a vote for the election of the
proposed Class III director nominees, ratification of the
appointment of the Company's independent auditors and the
compensation of the Company's executive
officers.
"After a thorough and independent review, ISS has recommended
voting in favor of all of the matters to be presented at our annual
shareholders meeting," said Steven
Esses, President and CEO of Arotech. "Each of the three
proposals supports our commitment to transparency, independence and
strong corporate governance. This is the second independent
institutional investor research organization to have recommended in
favor of all of the board's proposals."
The Company filed its definitive proxy statement relating to the
Annual Meeting (the "Proxy Statement") with the Securities and
Exchange Commission (the "SEC") on March
30, 2016. Shareholders can obtain the Proxy Statement,
any amendments or supplements to the Proxy Statement and other
documents filed by the Company with the SEC for no charge at the
SEC's website at www.sec.gov and at the Company's website at
www.arotech.com.
Shareholders are urged to vote "FOR" the three proposals.
Shareholders may vote by telephone, Internet or by returning a
signed proxy or voting instruction form by mail. Investors with
questions regarding how to vote their shares may contact the firm's
proxy solicitor, Alliance Advisors LLC, at 973.873.7700.
About Arotech Corporation
Arotech Corporation is a leading provider of quality defense and
security products for the military, law enforcement and homeland
security markets, including multimedia interactive
simulators/trainers and advanced zinc-air and lithium batteries and
chargers. Arotech operates two major business divisions: Training
and Simulation, and Power Systems.
Arotech is incorporated in Delaware, with corporate offices in
Ann Arbor, Michigan, and research,
development and production subsidiaries in Michigan, South
Carolina, and Israel. For
more information on Arotech, please visit Arotech's website at
www.arotech.com.
Arotech Investor Relations Contacts:
Brett Maas / Rob Fink
Hayden IR
(646) 536.7331 / (646) 415.8972
ARTX@haydenir.com
Except for the historical information herein, the matters
discussed in this news release include forward-looking statements,
as defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements reflect management's current knowledge,
assumptions, judgment and expectations regarding future performance
or events. Although management believes that the expectations
reflected in such statements are reasonable, readers are cautioned
not to place undue reliance on these forward-looking statements, as
they are subject to various risks and uncertainties that may cause
actual results to vary materially. These risks and uncertainties
include, but are not limited to, risks relating to: product and
technology development; the uncertainty of the market for Arotech's
products; changing economic conditions; delay, cancellation or
non-renewal, in whole or in part, of contracts or of purchase
orders (including as a result of budgetary cuts resulting from
automatic sequestration under the Budget Control Act of 2011); and
other risk factors detailed in Arotech's most recent Annual Report
on Form 10-K for the fiscal year ended December 31, 2015 and other filings with the
Securities and Exchange Commission. Arotech assumes no obligation
to update the information in this release. Reference to the
Company's website above does not constitute incorporation of any of
the information thereon into this press release.
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SOURCE Arotech Corporation