VIENNA, Va., Oct. 2 /PRNewswire-FirstCall/ -- The Allied Defense Group, Inc. (AMEX:ADG), announces the results of its Special Meeting of Stockholders, held October 1, 2007 at 10:00 a.m. EDT. The record date for stockholders to have voted at the Special Meeting was August 3, 2007.
Stockholders approved the proposal to approve the potential issuance of Company Common Stock in excess of twenty percent of the issued and outstanding shares pursuant to the Amended and Restated Securities Purchase Agreement dated as of June 19, 2007, and the ancillary documents referred to in the Amended and Restated Securities Purchase Agreement.
Major General (Ret) John J. Marcello, The Allied Defense Group's Chief Executive Officer and President, said, "We are pleased with the endorsement of our recommendation given by stockholders. The meeting was a success and we were glad to receive stockholder approval so we can ensure compliance with the requirements of the agreement with the Company's convertible debt holders and move forward with our goal to deliver long-term value to our shareholders." About The Allied Defense Group, Inc. (formerly Allied Research Corporation) The Allied Defense Group, Inc. is a diversified international defense and security firm which: develops and produces conventional medium caliber ammunition marketed to defense departments worldwide; designs, produces and markets sophisticated microwave security systems; and manufactures battlefield effects simulators and other training devices for the military.
For more Information, please visit the Company web site: http://www.allieddefensegroup.com/ Certain statements contained herein are "forward looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission.
For More Information, Contact:
Crystal B. Leiderman (Bedwell)
Director, Investor Relations
800-847-5322
DATASOURCE: The Allied Defense Group, Inc.
CONTACT: Crystal B. Leiderman (Bedwell), Director, Investor Relations of The Allied Defense Group, Inc., +1-800-847-5322 Web site: http://www.allieddefensegroup.com/
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