Quinpario and Zoltek agree to standstill on calling of 'special meeting'

theflyonthewall.com

In a regulatory filing from Thursday evening, Quinpario Partners, which has previously disclosed owning more than 10% of Zoltek stock, said that in order to further meaningful "settlement communications" it had reached an agreement with Zoltek to hold off on its request for a special meeting in regards to Quinpario’s suggestions for Zoltek to capitalize on growth opportunities and enhance shareholder value, including but not limited to, the two strategic alternatives previously proposed by Quinpario and to determine whether a mutually acceptable resolution may be achieved. Quinpario and Zoltek agreed to defer any further action to publicly advance or oppose the calling of the 'Special Meeting' as contemplated in the Special Meeting Request. Either party may terminate the deferral at any time and for any reason upon at least two business days’ advance written notice to the other party. Quinpario and Zoltek each continue to otherwise reserve all rights in connection with advancing or opposing the Special Meeting Request following the termination of the Deferral period.

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