Global Power Equipment Group Inc. Sets Date for 2010 Annual Meeting of Stockholders
TULSA, Okla., March 12 /PRNewswire-FirstCall/ -- Global Power Equipment Group Inc. (Pink Sheets: GLPW) today announced that its 2010 annual meeting of stockholders will be held at The Roosevelt Hotel, 45 East 45th Street (at Madison Avenue), New York, New York 10017, on Thursday, April 22, 2010, at 2:00 p.m., local time. The Company's Board of Directors has set Friday, March 5, 2010 as the record date for the annual meeting.
The Company will hold the annual meeting to elect directors and to vote upon a proposal to effect a reverse stock split of the Company's common stock at a ratio within a range between 1-for-2 and 1-for-10, inclusive, such ratio to be determined by the Board of Directors. The purpose of the proposed reverse stock split is to increase the price level of the Company's common stock to enable the Company to meet the minimum price criteria for listing on a national securities exchange to be selected by the Company's Board.
About Global Power
Oklahoma based Global Power Equipment Group Inc. is a leading design, engineering and manufacturing firm providing a broad array of equipment and services to the global power infrastructure, energy and process industries. Through its Global Power Services Division, the Company is a leading provider of on-site specialty support and outage management services for commercial nuclear reactors in the United States and provides maintenance services to fossil and hydroelectric power plants and other industrial operations. Through its Global Power Products Division, the Company designs, engineers and manufactures a comprehensive portfolio of equipment for gas turbine power plants and power-related equipment for industrial operations, with over 40 years of power generation industry experience. With a strong competitive position in its product lines, the Company benefits from a large installed base of equipment in domestic and international markets. Additional information about Global Power Equipment Group may be found at www.globalpower.com.
Company Contact: Jennifer Gordon ICR (918) 274-2280 email@example.com
SOURCE Global Power Equipment Group Inc.
Released March 12, 2010