PMFG, Inc. (Parent of Peerless Mfg. Co.) Comments on Cannell Capital LLC and Group Schedule 13D Filing

By GlobeNewswire,  June 05, 2014, 07:30:00 AM EDT


DALLAS, June 5, 2014 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today confirmed that Tristan Partners, L.P., an entity managed by Cannell Capital LLC, has submitted a letter nominating two candidates for election to the Company's Board of Directors at the 2014 annual meeting of stockholders. Cannell Capital and certain other stockholders of the Company also filed a Schedule 13D with the SEC disclosing that they have formed a group for the purpose of seeking the election of the two director candidates nominated to the Company's Board of Directors.

The Board of Directors of the Company is reviewing the nomination letter. The Company's stockholders are not required to take action at this time.

The Company issued the following statement:

PMFG, Inc. has a longstanding practice of open communications with its stockholders. We welcome input toward the goal of enhancing stockholder value. Our Board of Directors and management team are committed to acting in the best interest of the Company and all stockholders. The Company intends to maintain an open dialogue with its stockholders, taking their views into consideration as it works to deliver enhanced value.

About PMFG

PMFG is a leading provider of custom-engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. PMFG primarily serves the markets for power generation, natural gas infrastructure and petrochemical processing. Headquartered in Dallas, Texas, PMFG markets its systems and products worldwide.

CONTACT: Mr. Peter J. Burlage, Chairman and Chief Executive Officer
         Mr. Ronald L. McCrummen, Chief Financial Officer
         PMFG, Inc.14651 North Dallas Parkway, Suite 500
         Dallas, Texas 75254
         Phone: (214) 357-6181
         Fax: (214) 351-4172
         www.peerlessmfg.com
         or
         Mr. Shawn Severson,
         Managing Director, Energy Technology Practice
         The Blueshirt Group
         Phone: (415) 489-2198
         shawn@blueshirtgroup.com

Source: PMFG, Inc.

This article appears in: News Headlines

Referenced Stocks: PMFG


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