PHILADELPHIA, Aug. 11, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced final certified results from its Annual Stockholders Meeting held last week. At that meeting, the company's stockholders:
- Re-elected Camille S. Andrews and Brian W. Clymer to the company's Board of Directors to serve for three-year terms expiring in 2018. The results, with the number of shares voting for each nominee and each nominee's percentage of total voted shares, are as follows:
| Camille S. Andrews | 23,357,089 shares | 54.6% |
| Brian W. Clymer | 23,355,339 shares | 54.6% |
| Philip Goldstein | 18,410,087 shares | 43.1% |
| Andrew Dakos | 15,902,918 shares | 37.2% |
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Re-approved the company's 2010 Senior Executive Bonus Plan, with 37,527,262 shares, or 87.8% of total voted shares, voting for the proposal and 5,116,582 shares, or 12.0%, voting against.
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Rejected the advisory shareholder proposal recommending that the company's Board of Directors hire an investment banker to investigate the possibility of a liquidity event, with 17,869,117 shares, or 41.4% of total voted shares, voting for the proposal and 24,042,503 shares, or 56.2%, voting against.
- Approved the advisory shareholder proposal recommending that the company's Board of Directors rescind the stockholder rights plan, with 22,986,547 shares, or 53.8% of total voted shares, voting for the proposal and 18,818,708 shares, or 44.0%, voting against. This proposal is moot as the stockholder rights plan was voluntarily rescinded by the Board in June of this year.
"We are honored and grateful that our stockholders have supported our Board, our management team and the strategic direction of our company during this contested election," said David L. Richter, Hill's President and Chief Executive Officer, following the meeting last week.
Hill International, with 4,800 professionals in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the seventh largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
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Certain statements contained herein may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any projections of revenues, earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement.
Hill International, Inc.
John P. Paolin
Senior Vice President of Marketing and
Corporate Communications
(215) 309-7710
johnpaolin@hillintl.com
The Equity Group Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com
(HIL-G)