-Court's decision clears way for special
meeting of shareholders on June 30,
2022
EL
SEGUNDO, Calif., June 16,
2022 /PRNewswire/ -- Eileen
Drake (the CEO of Aerojet Rocketdyne (NYSE: AJRD) ("Aerojet
Rocketdyne" or the "Company")) and Gen. Kevin Chilton (Ret.), Thomas Corcoran and Gen. Lance Lord (Ret.) (three of its independent
directors) issued the following statement:
"We are extremely pleased by the opinion issued today by the
Delaware Court of Chancery. There
is now a clear path for Aerojet Rocketdyne shareholders to decide
the future of the Company at the special meeting on June
30th.
"We also are gratified that the Court rejected Mr.
Lichtenstein's request to stifle shareholder voices by invalidating
consents and proxies previously issued in connection with the
election. And we are pleased—and not at all surprised—that
the Court denied Mr. Lichtenstein's baseless request to hold the
members of the Drake slate in contempt of the Court's temporary
restraining order.
"The Court's decision ultimately provides for the same relief we
had offered Mr. Lichtenstein months ago in an effort to avoid the
waste and distraction of unnecessary litigation. It is
unfortunate that Mr. Lichtenstein rejected our common-sense offer,
and instead forced the parties and Aerojet Rocketdyne to spend
millions of dollars on wasteful and costly litigation – and
enormous distraction to the Company-- that resulted in the same
outcome.
"We look forward to Aerojet Rocketdyne shareholders casting
their ballots at the June 30 special
meeting."
Important Information
This communication is being made in the participants' individual
capacity, and not by or on behalf of the Company. No Company
resources were used in connection with these materials. On
June 1, 2022, Eileen P. Drake, General Kevin Chilton, USAF (Ret.), General Lance Lord, USAF (Ret.) and Thomas Corcoran (the "Incumbent Directors")
filed a definitive proxy statement with the Securities and Exchange
Commission (the "SEC") in connection with the solicitation of
proxies for a special meeting of stockholders of the Company to be
held on June 30, 2022.
Contact:
D.F. King & Co., Inc.
Edward T. McCarthy / Tom Germinario
AJRD@dfking.com
Committee's Website:
https://maximizeajrdvalue.com/
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content:https://www.prnewswire.com/news-releases/ceo-eileen-drake-and-committee-for-aerojet-rocketdyne-shareholders-and-value-maximization-extremely-pleased-with-delaware-courts-opinion-301570045.html
SOURCE Committee for Aerojet Rocketdyne Shareholders and Value
Maximization