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TMCNet: Sprint Nextel OKs Amendment Enabling Shareholders to Call Special Meetings

[November 22, 2009]

Sprint Nextel OKs Amendment Enabling Shareholders to Call Special Meetings

Nov 18, 2009 (Close-Up Media via COMTEX) -- Sprint Nextel announced on November 12 that its Board of Directors has approved an amendment to the corporate bylaws allowing the record holders of shares representing at least 10 percent of all issued and outstanding common stock to call a special meeting of shareholders.


To call a special meeting, shareholders must submit a written request to the Secretary of the company that meets certain requirements stated in the bylaws, including those related to the timing of similar items or the timing of meetings already scheduled.

The action follows approval at Sprint's May 2009 Annual Meeting of a shareholder proposal requesting this action. Approximately 77 percent of shares voted at the Annual Meeting were cast in favor of the proposal.

"The board's action is another example of Sprint's commitment to high standards of corporate governance, and responsiveness to our shareholders," said Charles Wunsch, Sprint's General Counsel. "Our shareholders now have the ability, within appropriate guidelines, to call a special shareholders meeting to consider matters they believe are urgently important to Sprint." Sprint Nextel is a provider of wireless and wireline communications services to consumers, businesses and government users.

((Comments on this story may be sent to health@closeupmedia.com))

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