BETHESDA, Md., June 20,
2023 /PRNewswire/ -- Centrus Energy Corp. (NYSE
American: LEU) (the "Company") announced the results of its 2023
annual meeting of stockholders held on June
20, 2023. As of April 24,
2023, the meeting's record date, there were 14,761,818
shares of the Company's Class A common stock outstanding, each
entitled to one vote, and approximately 76 percent of those shares
were represented at the annual meeting.
The Company's stockholders passed all five proposals, including
electing the seven director nominees for a term of one year;
approving an advisory vote to approve the Company's executive
compensation; approving the amendment of the Company's Section 382
Rights Agreement; and ratifying the appointment of Deloitte &
Touche LLP as the Company's independent auditors for 2023. In
addition, a non-binding advisory vote asked shareholders whether
the advisory vote on the Company's executive compensation should
occur every one, two, or three years; the majority of shareholders
voted for the one year option.
Stockholders reelected Kirkland H.
Donald, Tina W. Jonas,
William J. Madia, Daniel B. Poneman, Bradley J. Sawatzke, Neil S. Subin, and Mikel
H. Williams to the Board of Directors.
The Company also announced today that after obtaining the
approval of stockholders at its 2023 annual meeting, it had entered
into the fifth amendment to the Company's Section 382 Rights
Agreement (the "Rights Plan") designed to preserve the Company's
substantial tax assets associated with net operating loss
carryforwards ("NOLs") under Section 382 of the Internal Revenue
Code ("Section 382"). The fifth amendment extends the Rights Plan
through June 30, 2026. The Rights
Plan is similar to plans adopted by other public companies with
significant NOLs.
Pursuant to U.S. federal income tax rules, the Company's use of
certain tax assets could be substantially limited if the Company
experiences an "ownership change" (as defined in Section 382). In
general, an ownership change occurs if the ownership of the
Company's stock by "5 percent stockholders" increases by more than
50 percent over the lowest percentage owned by such stockholders at
any time during the prior three years on a rolling basis.
For additional details regarding the amendment to the Rights
Plan, please see the Company's forthcoming Current Report on Form
8-K and amendment to Registration Statement on Form 8-A to be filed
with the Securities and Exchange Commission.
About Centrus Energy
Centrus Energy is a trusted supplier of nuclear fuel and
services for the nuclear power industry. Centrus provides value to
its utility customers through the reliability and diversity of its
supply sources – helping them meet the growing need for clean,
affordable, carbon-free electricity. Since 1998, the Company has
provided its utility customers with more than 1,750 reactor years
of fuel, which is equivalent to 7 billion tons of coal. With
world-class technical and engineering capabilities, Centrus is also
advancing the next generation of centrifuge technologies so that
America can restore its domestic uranium enrichment capability in
the future. Find out more at www.centrusenergy.com.
Forward Looking Statements
This news release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934.
In this context, forward-looking statements mean statements related
to future events, may address our expected future business and
financial performance, and often contain words such as "expects",
"anticipates", "intends", "plans", "believes", "will", "should",
"could", "would" or "may" and other words of similar meaning.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Accordingly, forward-looking
statements should not be relied upon as a predictor of actual
results. Readers are urged to carefully review and consider
this press release and our other filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K for
the year ended December 31, 2022, and
our Quarterly Reports filed on Form 10-Q. We do not undertake to
update our forward-looking statements to reflect events or
circumstances that may arise after the date of this press release,
except as required by law.
Contacts:
Investors: Dan Leistikow (301)
564-3399 or LeistikowD@centrusenergy.com
Media: Lindsey Geisler (301)
564-3392 or GeislerLR@centrusenergy.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/centrus-energy-corp-reports-results-of-annual-stockholder-meeting-and-announces-extension-of-section-382-rights-agreement-301855929.html
SOURCE Centrus Energy Corp.