4.1.2005: Meldung: Pacific Ethanol, Inc.: Results of Annual Stockholders" Meeting
Tuesday January 3, 2:30 pm ET
FRESNO, Calif., Jan. 3 / Pacific Ethanol, Inc. announced today that it held its annual stockholders" meeting on Friday, December 30, 2005.
At the meeting, Bill Jones, Chairman of the Board of Pacific Ethanol presided, and, together with CEO Neil Koehler, reviewed the significant progress the Company made in 2005.
After management"s presentations, the results of the stockholder vote were announced. All director nominees were re-elected to serve as members of the Board of Directors. The issuance of shares of Series A Cumulative Redeemable Convertible Preferred Stock pursuant to the Purchase Agreement between the Company and Cascade Investment, L.L.C. and the form of Certificate of Designations, Powers, Preferences and Rights of the Series A Cumulative Redeemable Convertible Preferred Stock were approved by the stockholders. Finally, the selection of the Company"s independent public accountants to audit the Company"s consolidated financial statements for 2005 was ratified.
About Pacific Ethanol, Inc.
The primary goal of Pacific Ethanol, Inc. is to become the leader in the development, production and marketing of renewable fuels in the Western United States. Established in 2003, Pacific Ethanol is constructing its first large scale ethanol production facility in Madera County, California, and is developing four additional plants on the West Coast. Kinergy Marketing, LLC, a wholly owned subsidiary of Pacific Ethanol, is the largest West Coast based marketer of ethanol. In addition, Pacific Ethanol is working to identify and develop other renewable fuel technologies such as cellulose-based ethanol production and bio-diesel.
Source: Pacific Ethanol, Inc.