MCLEAN, Va., April 4, 2013 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq:LTBR), a leading innovator of next generation nuclear fuel designs and provider of nuclear energy consulting services to commercial and governmental organizations, today announced that the Company's annual meeting of shareholders is scheduled for 11 a.m. EDT Thursday, April 18, 2013 at the offices of Pillsbury Winthrop Shaw Pittman LLP, 2300 N Street, Washington, D.C.
Shareholders of record at the close of business on February 19, 2013 will be asked to re-elect five incumbent members of the Lightbridge board of directors; ratify the Company's independent auditing firm Anderson Bradshaw PLLC for the fiscal year ended December 31, 2013; and to cast nonbinding, advisory votes on overall compensation of the Company's executive officers, pursuant to the "say on pay" provisions of the Dodd-Frank Act of 2010. The Lightbridge Corporation proxy statement with voting instructions and recommendations was filed with the Securities and Exchange Commission on March 4, 2013.
After the business portion of the meeting, Lightbridge President and Chief Executive Officer Seth Grae will present a corporate update on Company operations, financial performance and strategic direction.
There are several ways to listen to or participate in the webcast and presentation if investors do not attend the event in person.
- To listen online to the business meeting and corporate presentation click onhttp://ir.ltbridge.com/eventdetail.cfm?eventid=125062 a few minutes before 11 a.m.
- To listen and ask live questions, call 253-237-1189 or 877-440-7549.
- To listen only, dial 877-670-9783 or 970-315-0421.
- Questions for Lightbridge executive management also may be submitted in writing before or during the meeting to ir@ltbridge.com. All questions will be read aloud and answered during the call.
- An audio replay of the meeting will be available online for one year beginning later that day.
Incumbent directors standing for re-election to one-year terms on the Lightbridge board are:
Seth Grae – President and Chief Executive Officer, Director
- He was named President, CEO and a director of Lightbridge in 2006. Mr. Grae is a member of the Civil Nuclear Trade Advisory Committee (CINTAC) to the U.S. Secretary of Commerce and the Nuclear Energy Institute's Suppliers Advisory Committee. He earned a BA degree (cum laude) from Brandeis University, an MBA degree and LLM degree in international law with honors from Georgetown University, and a JD degree from American University.
Ambassador Thomas Graham, Jr. – Executive Chairman of the Board and Corporate Secretary
- He has been a member of the board of the Company and its predecessors since 1997. Ambassador Graham served as a senior U.S. diplomat involved in the negotiation of every major international arms control and non-proliferation agreement involving the United States from 1970 to 1997.
Victor E. Alessi, Ph.D.
- Dr. Alessi was elected to the board in 2006. He is President Emeritus of the United States Industry Coalition, an organization dedicated to commercializing technologies of the New Independent States of the former Soviet Union. He was President of DynMeridian, a DynCorp subsidiary specializing in arms control, non-proliferation and international security affairs. He earned a doctoral degree in nuclear physics from Georgetown University.
Jack D. Ladd
- A board member since 2006, he is Dean of the College of Business and Engineering at the University of Texas of the Permian Basin. Mr. Ladd has practiced law in Texas for three decades and was a Member of the state Securities Board from 2001 to 2008, serving as Chairman from 2004 to 2008.
Daniel B. Magraw
- A board member of the Company and its predecessors since 1996, he is a leading expert and author on international environmental law and policy. Mr. Magraw is a Fellow and Professorial Lecturer at the Foreign Policy Institute at Johns Hopkins School of Advanced International Studies, and President Emeritus of the Center for International Environmental Law. From 1992 to 2001, he was Director of the International Environmental Law Office of the U.S. Environmental Protection Agency. He also practiced international and constitutional law.
Salt Lake City-based independent auditing firm Anderson Bradshaw PLLC or its predecessor Child Van Wagoner & Bradshaw, PLLC have served as Lightbridge auditor since 2006.
About Lightbridge Corporation
Lightbridge is a U.S. nuclear energy company based in McLean, Virginia with operations in Abu Dhabi, Moscow and London. The Company develops proprietary, proliferation resistant, next generation nuclear fuel technologies for current and future nuclear reactor systems. The Company also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Lightbridge's breakthrough fuel technology is establishing new global standards for safe and clean nuclear power and leading the way to a sustainable energy future. Lightbridge consultants provide integrated strategic advice and expertise across a range of disciplines including regulatory affairs, nuclear reactor procurement and deployment, reactor and fuel technology and international relations. The Company leverages those broad and integrated capabilities by offering its services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure.
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Forward Looking Statements
This news release contains statements that are forward-looking in nature, including statements regarding the Company's competitive position and product and service offerings. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties, which may cause actual results to differ significantly from such estimates. The risks include, but are not limited to, the degree of market adoption of the Company's product and service offerings; market competition; dependence on strategic partners; and the Company's ability to manage its business effectively in a rapidly evolving market. Certain of these and other risks are set forth in more detail in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.