Company's Slate of Directors Supported By More Than 91% of Votes
Cast by Non-Affiliates of the Kibbutz
MP MENASHE, Israel--(BUSINESS WIRE)--
Caesarstone Sdot-Yam Ltd. (NASDAQ: CSTE) ("Caesarstone" or the
"Company") announced today that, according to a preliminary vote count,
all seven of the Company director nominees received a significant
majority of the votes cast in person or by proxy at the Company's annual
general meeting of shareholders held today (the "Meeting"). The
preliminary vote count also shows that the two opposition director
nominees proposed by Kibbutz Sdot-Yam (the "Kibbutz") were rejected by a
wide margin of the shares voted at the Meeting in person or by proxy.
Preliminary results indicate that the Company's slate garnered the
support of approximately 91% of the votes cast by shareholders other
than affiliates of the Kibbutz and approximately 56% of all votes cast.
An independent inspector of elections will tabulate and promptly certify
the final voting results. The Company will announce the results once
they are certified.
About Caesarstone
Caesarstone manufactures high quality engineered quartz surfaces, which
are used in both residential and commercial buildings as countertops,
vanities, wall cladding, floors and other interior surfaces. The wide
variety of colors, styles, designs and textures of Caesarstone®
products, along with Caesarstone's inherent characteristics such as
hardness, non-porous, scratch and stain resistance and durability,
provide consumers with excellent surfaces for their internal spaces
which are highly competitive to granite, manufactured solid surfaces and
laminate, as well as to other engineered quartz surfaces. Caesarstone's
four collections of products — Classico, Supremo, Motivo and Concetto —
are available in 55 countries around the world. For more information
about the Company, please visit our website www.caesarstone.com.
(CSTE-E)
Forward-Looking Statements
Information in this press release contains forward-looking statements
within the meaning of the U.S. Private Securities Litigation Reform Act
of 1995, Section 27A of the U.S. Securities Act of 1933, and Section 21E
of the U.S. Securities Exchange Act of 1934. Such forward-looking
statements may include projections regarding the Company's future
performance and, in some cases, may be identified by words like
"anticipate," "assume," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "plan," "potential," "predict," "project,"
"future," "will," "seek" and similar terms or phrases. The
forward-looking statements contained in this press release are based on
management's current expectations, which are subject to uncertainty,
risks and changes in circumstances that are difficult to predict and
many of which are outside of the Company's control. Important factors
that could cause the Company's actual results to differ materially from
those indicated in the forward-looking statements include, among others:
the strength of the home renovation and construction sectors; economic
conditions within any of the Company's key existing markets; actions by
the Company's competitors; changes in raw material prices, particularly
polymer resins and pigments; fluctuations in currency exchange rates;
the success of the Company's expansion efforts in the United States; the
outcome of silicosis claims and the claim by the Company's former quartz
processor; unpredictability of seasonal fluctuations in revenues; delays
in manufacturing if the Company's suppliers are unable to supply raw
materials; and other factors discussed under the heading "Risk Factors"
in the Company's most recent annual report on Form 20-F and other
documents filed with, or furnished to, the U.S. Securities and Exchange
Commission. Any forward-looking statement made in this press release
speaks only as of the date hereof. Factors or events that could cause
the Company's actual results to differ from the statements contained
herein may emerge from time to time, and it is not possible for the
Company to predict all of them. Except as required by law, the Company
undertakes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future developments
or otherwise.
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Investor Relations
ICR, Inc.
James Palczynski,
+1-203-682-8229
Partner
Source: Caesarstone Sdot-Yam Ltd.
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