Denver CO (PRWEB) November 19, 2009
The MEDIA GLOBO Corporation [ OTC : MGLO ] [ MGLO:PK ] announced today, that the Company has met the requirements for holding its 2009 Annual General Meeting(s) of Shareholders; and all proposed business development initiatives have received overwhelming proxy approval.
The announcement follows: 1) a 2007 reorganization and merger with The Axess Media Group, Ltd. [ OTC: AXMG ]; which was lawfully executed and filed under the auspices of all appropriate U.S. regulatory and public market authorities; and which became effective under the NASDAQ approved trading symbol MDGB on March 12, 2007; and 2) a 2008 reverse split; which became effective under the NASDAQ approved trading symbol MGLO on January 30, 2008. These actions also followed a number of separate shareholder notices and meetings, duly held by the majority-owner(s)-in-interest and controlling shareholder(s) of both AXMG and MGLO, during the 2007-2008 fiscal years.
A quorum of 93,495,000 common shares of the total 93,527,227 issued and outstanding common shares in MGLO, as of the Company’s June 30, 2009 fiscal year-end, tendered proxies in favor of (“FOR”) the proposed matters of business at the meeting(s); representing 99.96 % of all common stock voting shares, as at the above record date for the 2009 Annual General Meeting of Shareholders of The MEDIA GLOBO Corporation.
In addition to re-approving the final 2007 business merger between MGLO and AXMG, and the 2008 reverse stock split, the 2009 meeting of shareholders also includes approval of the company’s strategic plans for entry into the online secondary public education market; as well as authorizing negotiations and potential sale of one or more of the MEDIA GLOBO brand names to certain third parties during the 2009-2010 fiscal year. For more visit the company's website at: http://www.mediaglobocorp.com .
SAFE HARBOR STATEMENT
Included in this press announcement and referenced hereunder are Media Globo Corporation forward-looking statements and projections within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Action of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct nor relied upon for investment purposes.
The MEDIA GLOBO Corporation
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