Servotronics, Inc. Announces Update to Delivery Method for Annual Meeting Proxy Materials due to COVID-19 Pandemic
1110 Maple Street ♦ P.O. Box 300 ♦ Elma, New York 14059-0300 ♦ 716-655-5990 ♦ FAX 716-655-6012
APRIL 17, 2020
SERVOTRONICS, INC. ANNOUNCES UPDATE TO DELIVERY METHOD FOR ANNUAL MEETING PROXY MATERIALS DUE TO COVID-19 PANDEMIC
Elma, NY – Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products announced an update to the delivery method for proxy materials relating to the Company’s upcoming 2020 Annual Meeting of Shareholders (the “Annual Meeting”). Due to the COVID-19 pandemic, the third-party service provider retained to handle distribution of copies of the Company’s Annual Meeting proxy materials may be unable to mail copies to shareholders who had requested such delivery. As a result, the Company has sent a Notice of Internet Availability to all shareholders entitled to participate in the Annual Meeting in order to provide shareholders with proxy materials sufficiently in advance of the meeting to allow shareholders time to review these materials and exercise their voting rights. Shareholders who had previously elected to receive full sets of the Company’s proxy materials may not receive paper copies of the Company’s proxy materials this year and are encouraged to review the Company’s proxy materials online. The Company’s proxy materials are available at www.investorvote.com/SVT.
This update is being provided in accordance with guidance recently issued by the staff of the Securities and Exchange Commission (“SEC”) to issuers, shareholders, and other market participants experiencing delays due to COVID-19 with respect to printing and/or mailing proxy materials to shareholders.
As announced in the Company’s proxy statement filed with the SEC on April 16, 2020, the Company is scheduled to hold its virtual Annual Meeting on May 13, 2020 at 8.00 a.m. Eastern Time. Shareholders of record on March 13, 2020 are entitled to participate in the Annual Meeting. Shareholders will be able to access the Annual Meeting online by visiting www.meetingcenter.io/265970016.
The Company urges shareholders to vote and submit proxies in advance of the Annual Meeting by one of the methods described in the proxy materials for the Annual Meeting.
The Company is composed of two groups – the ATG and the CPG. The ATG primarily designs, develops and manufactures servo controls and other components for various commercial and government applications (i.e., aircraft, jet engines, missiles, manufacturing equipment, etc.). The CPG designs and manufactures cutlery, bayonets, pocket knives, machetes and combat knives, survival, sporting, agricultural knives and other edged products for both commercial and government applications.
SERVOTRONICS, INC. (SVT) IS LISTED ON NYSE American