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Shareholders attending the meeting, and those voting by proxy, approved the following proposals.
1. The election of the following directors to serve until the next Annual Meeting of Shareholders and until their respective successors have been duly elected and qualified: Robert S. Benou, Marc Benou, Louis S. Massad, Edward J. Rielly, David M. Peison.
2. The selection of Bagell, Joseph, Levine & Co. as the Company's independent auditors for the fiscal year ending July 31, 2009: and
3. To consider and act upon a proposal to approve an amendment to the Certificate of Incorporation to effect a reverse stock split of the Company's common stock at a ratio not less than two-for-one and not greater than six-for-one, with the exact ratio to be set within such range in the discretion of the Board of Directors. Subsequently the Company's Board of Directors approved a five-for-one reverse stock split.
4. To act on such other matters as may properly come before the meeting.
About Conolog Corporation
Conolog Corporation is a provider of digital signal processing and digital security solutions to electric utilities worldwide. The Company designs and manufactures electromagnetic products to the military and provides engineering and design services to a variety of industries, government organizations and public utilities nationwide. The Company's INIVEN division manufactures a line of digital signal processing systems, including transmitters, receivers and multiplexers.
Contact: Conolog Corporation: Robert S. Benou, Chairman, 908/722-8081 or rsbenou@conolog.com
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
SOURCE Conolog Corporation
http://www.conolog.com
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