Zoltek Companies, Inc. ZOLT today reported that it had received a request for a special shareholders
meeting from a group of shareholders that filed a Schedule 13D reporting
beneficial ownership of an aggregate of approximately 10.1% of the Company's
outstanding common stock. The group indicated that it is led by Quinpario
Partners, LLC and Jeffry N. Quinn. The group is seeking the special
shareholders meeting in order to remove the six current members of the Board
of Directors without cause and elect a new slate of five directors.
The Company has advised the group's counsel that, based on the Company's
preliminary review of the request, it appears that the request is deficient in
several material respects, including both as to form and content. The Company
further advised the group's counsel that, in view of the deficiencies, the
Company does not plan to call the special shareholders meeting requested in
the letter. Finally, the Company stated that it will continue its review and
respond to the group in greater detail once it has a reasonable opportunity to
consider the matters set forth in the letter.
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