Ancora Advisors Announces Majority Support for Withhold Campaign at J. Alexander's Based on Preliminary Tally
J. Alexander's Holdings, Inc. (JAX)
US:NASDAQ Investor Relations:
investor.jalexandersholdings.com
Company Research
Source: PR Newswire
CLEVELAND, June 20, 2019 /PRNewswire/ -- Ancora Advisors, LLC ("Ancora"), which beneficially owns approximately 8.76% of the outstanding shares of J. Alexander's Holdings, Inc. (NYSE: JAX) ("J. Alexander's" or the "Company"), making it one of the Company's largest shareholders, today announced that J. Alexander's shareholders have overwhelmingly endorsed Ancora's case for change at the Company's 2019 annual meeting.Based on a preliminary tally, subject to the final certification of the voting results by the independent inspector of election, a clear majority of the outstanding shares of the Company withheld their votes from management's incumbent nominees, Timothy Janszen and Ronald Maggard, at the 2019 annual meeting. The withhold votes for Messrs. Janszen and Maggard represented over 61% and 69% of the votes cast in the election of directors, respectively. Excluding shares held by insiders and affiliates of the Company, Ancora believes that the withhold votes for Messrs. Janszen a
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