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In what the Shamrock Activist Value Fund, L.P. described as a clear mandate for change, its three director nominees were elected by a 4-to-1 margin. More than 90% (20,560,040) of the 22,460,557 shares voted supported the Shamrock Activist Value Fund, L.P.'s shareholder proposal requesting the board to declassify the board and hold annual elections for all directors; more than 90% (20,617,794) also supported its shareholder proposal requesting the board to submit any "poison pill" to a shareholder vote; 88% (19,75,547) of the shares voted supported the Shamrock Activist Value Fund, L.P.'s shareholder proposal requesting that the board implement majority voting in uncontested director elections. "We believe these results send a positive message that Texas Industries shareholders expect directors to be responsive and accountable," said Dennis A. Johnson, one of the three Shamrock Activist Value Fund, L.P. nominees and managing director of Shamrock Capital Advisors, the investment manager for the Shamrock Activist Value Fund. "We are committed to fulfilling the mandate given by shareholders by working with management and our fellow directors to improve Texas Industries' operations and implementing these and other appropriate corporate governance improvements." Shamrock Activist Value Fund is one of five separate investment funds managed by Shamrock Capital Advisors, Inc., a subsidiary of Shamrock Holdings, Inc., the investment vehicle of the Roy E. Disney family. Together with its parallel investment vehicle, the Shamrock Activist Value Fund, L.P. owns 10.2% of Texas Industries shares. SOURCE: Shamrock Activist Value Fund, L.P. Clifford A. Miller cmiller@shamrock.com 818-973-4297 or Sitrick And Company Michael Sitrick mike_sitrick@sitrick.com Aaron Curtiss aaron_curtiss@sitrick.com 310-788-2850 For full details on Texas Industries Inc (TXI) click here. Texas Industries Inc (TXI) has Short Term PowerRatings of 7. Details on Texas Industries Inc (TXI) Short Term PowerRatings is available at This Link.
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