- Additional Proxy Soliciting Materials - Non-Management (definitive) (DFAN14A)
December 23 2011 - 11:21AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No. )
Filed by the
Registrant
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Filed by a Party other than the
Registrant
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Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material Pursuant to §240.14a-12
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PINNACLE AIRLINES CORP.
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(Name of registrant as specified in its charter)
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WAYNE KING
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(Name of person(s) filing proxy statement, if other than the registrant)
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Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
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Headline: Pinnacle Shareholder Seeks Board Agreement to Allow Two New Shareholder-Appointed Directors
Summit, New Jersey Wayne King, a shareholder of Pinnacle Airlines Corp. (Pinnacle), noted today that
Pinnacle shares are currently trading at a near all-time low. He commented that shareholders are no doubt distressed to see the value of their investment fall and frustrated to see Pinnacles market value at a massive discount to its net worth.
Media and analyst speculation of Pinnacles demise have further added to shareholder anxiety.
Mr. King believes
Pinnacles Board of Directors (the Board) can take a positive step to reassure shareholders. He is calling on the Board to agree to appoint two new shareholder-appointed directors, with full voting rights, to act as shareholder
representatives. Given the recent share performance, Mr. King believes it is likely that the shareholders of Pinnacle will overwhelmingly support this measure. Due to the current heightened concerns, the Board would best serve shareholders by
acting promptly rather than waiting six months until the next annual meeting.
Now more than ever, shareholders need to be
confident that their interests are being represented, and by taking this unique and positive step, the Board would demonstrate its respect for shareholder concerns.
Mr. King intends to engage in discussions with other shareholders, and encourages the Board to do the same.
Wayne King is a private investor from the State of New Jersey.
THE PARTICIPANT
IN THE SOLICITATION AND HIS DIRECT OR INDIRECT INTERESTS IN PINNACLE ARE: DIRECT OWNERSHIP BY WAYNE KING OF 531,363 SHARES OF COMMON STOCK (APPROXIMATELY 2.78% OF PINNACLES COMMON STOCK). WHEN A PROXY STATEMENT IS COMPLETED AND FILED, PINNACLE
SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION, AND SECURITY HOLDERS SHOULD RELY ON SUCH PROXY STATEMENT AND NOT ON THIS RELEASE. THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS RELATED TO
SOLICITATION OF PROXIES WILL BE AVAILABLE FOR NO CHARGE AT THE SECS WEBSITE,
WWW.SEC.GOV
.
Contact:
Frederic Dorwart
FREDERIC DORWART, LAWYERS
Old City Hall
124 East Fourth
Street
Tulsa, OK 74103
(918) 583-9924
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