PRESS RELEASE
ABX AIR SHAREHOLDERS HOLD ANNUAL MEETING
WILMINGTON, OH - May 5, 2005 - Shareholders of ABX Air (OTCBB: ABXA) re-elected two directors, approved a new long-term incentive program and ratified the appointment of the company's auditors at their annual meeting here today.
Proposals to remove a limit on the size of ABX Air's Board of Directors, and a shareholder's proposal calling for all directors to be elected annually were not approved. While shareholders overwhelmingly voted in favor of the proposal to amend the Company's Certificate of Incorporation to permit expansion of the Board beyond the current maximum of five members, the proposal did not receive the required affirmative vote of two-thirds of all of the shares entitled to vote at the meeting.
Directors re-elected to three-year terms on the ABX Air board were James H. Carey, chairman of the board, and John D. Geary. Carey has served on the ABX Air board since August 2003, Geary since January 2004.
At the meeting, ABX Air President and CEO Joe Hete reviewed the company's financial results for 2004 and the first quarter of 2005. The presentation is available for download as an 8.4M PDF file or in a web-viewable format. Hete also announced that the Company's common shares have been approved to begin trading on the NASDAQ National Market effective Monday, May 9, 2005. ABX Air's common shares have been quoted on the Over-the-Counter Bulletin Board market since it became an independent publicly traded company in August 2003.
ABX Air, Inc. is a cargo airline with a fleet of 114 in-service
aircraft that operates out of Wilmington, Ohio, and 18 hubs throughout the
United States. ABX became an independent public company effective August
16, 2003, as a result of the separation from its former parent company,
Airborne, Inc., which was acquired by DHL Worldwide Express B. V. In
addition to providing airlift capacity and sort center staffing to DHL
Express, ABX provides charter and maintenance services to a diverse group
of customers. With over 8,000 employees, ABX is the largest employer in a
several-county area in southwestern Ohio.
For more information, contact ABX Air.
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RELATED STORIES
(5/5/05) ABX Air today announced that it has been approved to list its common shares on the NASDAQ National Market and will commence trading under the new listing at the open of the market, Monday, May 9, 2005 under the ticker symbol ABXA. [more]
(4/6/05) ABX Air today announced that it has applied to list its common shares on the NASDAQ National Market. [more]
(5/6/04) ABX Air, Inc., held its first shareholders meeting today at Roberts Centre in Wilmington, Ohio, at 11 a.m. [more]
(3/4/04) ABX Air today announced the details for its first Annual Meeting of Shareholders to be held May 6, for shareholders of record on March 31, 2004. The meeting will begin at 11:00 am EDT at the Roberts Convention Center in Wilmington. [more]
(1/12/04) ABX Air announced today John D. Geary and Jeffrey J. Vorholt have been elected to fill two vacancies on the company's Board of Directors. [more]
(9/9/03) ABX Air has scheduled a conference call to formally introduce management to the investment community and shed additional light on their business. [more]
(8/15/03) ABX Air announced today that the company's stock will officially begin trading on the OTC Bulletin Board concurrent with the opening of the stock market Monday morning. [more]
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