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Meldrum Asset Management Delivers Letter To Zix Corporation Requesting A Special Meeting Of Shareholders


Seeks the Removal and Replacement of Three Existing Members of the Company's Board of Directors

NEW YORK, Oct. 25, 2012 /PRNewswire/ -- Meldrum Asset Management (together with its affiliates, the "Meldrum Group") today announced that it has delivered a letter to Zix Corporation (NASDAQ: ZIXI) requesting that ZixCorp call a special meeting of the shareholders of the company for the purpose of making substantial changes to the composition of ZixCorp's board of directors.  The Meldrum Group is the largest shareholder of ZixCorp with aggregate ownership of approximately 10.3% of ZixCorp's outstanding shares.  The Meldrum Group is making the request in accordance with the relevant provisions of the Texas Business Organizations Code.

The Meldrum Group proposes to remove Robert C. Hausmann, James S. Marston, and Maribess L. Miller from the Company's seven-member board of directors, to fix the authorized number of directors at six, and to elect three new members to the board of directors.

"We are dissatisfied with the strategic direction and performance of ZixCorp's current Board and have serious concerns regarding the future performance and direction of the Company under these directors," stated Conor O'Driscoll, a Principal at Meldrum. "By requesting a special meeting of shareholders, we – along with our fellow shareholders – will have the opportunity to elect new directors who are committed to work with the remaining Board members to act in the best interests of all shareholders and enhance value at ZixCorp."

In the coming weeks, the Meldrum Group will be providing more information to shareholders regarding the reasons for seeking to remove and replace these three current directors, as well as information regarding the Meldrum Group's director candidates. 


Conor O'Driscoll, Meldrum Asset Management, LLC

(212) 317-4815

SOURCE Meldrum Asset Management

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