Arabian American Development Announces New Date for 2008 Annual Meeting of Shareholders
Meeting Rescheduled for July 10, 2008 at 10 a.m.
DALLAS, June 16 /PRNewswire-FirstCall/ -- Arabian American Development Co. (Nasdaq: ARSD) today announced that the 2008 Annual Meeting of Shareholders will be held Thursday, July 10, 2008 at 10:00 a.m. CDT at the Company's SugarLand sales office, located at 1600 Highway 6 South, Suite 240, SugarLand, TX. The Annual Meeting of Shareholders was delayed by untimely deliveries of proxy material to shareholders in Saudi Arabia. The meeting was originally set for Wednesday, June 11, 2008.
Nick Carter, Executive Vice President and Chief Operating Officer, South Hampton Resources, commented, "We are confident that we have sufficient additional votes identified to hold the meeting on July 10, 2008. The Company is not aware of any unusual or extraordinary items to be brought before the vote for the rescheduled meeting. Our transfer agent and the auditors will participate by conference call and can answer any questions posed to them at that time. We will be verifying and updating addresses of our Saudi shareholders to ensure a timely schedule prior to the 2009 Annual Meeting."
About Arabian American Development Company (ARSD)
Arabian American owns and operates a petrochemical facility located in southeast Texas just north of Beaumont, specializing in high purity petrochemical solvents and other solvent type manufacturing. The Company is also the original developer and is now a 50% owner of a joint venture in a mining project in the Al-Masane area of Saudi Arabia which is under construction and is scheduled to be in production in late 2010. The mine will produce economic quantities of zinc, copper, gold, and silver.
Statements in this release that are not historical facts are forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon Management's belief as well as assumptions made by and information currently available to Management. Because such statements are based upon expectations as to future economic performance and are not statements of fact, actual results may differ from those projected. These risks, as well as others, are discussed in greater detail in Arabian American's filings with the Securities and Exchange Commission, including Arabian American's annual Report on Form 10-K for the year ended December 31, 2007 and the Company's subsequent Quarterly Report Forms 10-Q.
Company Contact: Nick Carter, Executive Vice President and Chief Operating Officer (409) 385-8300 firstname.lastname@example.org Investor Contact: Cameron Donahue or Brett Maas Hayden Communications (651) 653-1854 Cameron@haydenir.com
SOURCE Arabian American Development Co.