CHICAGO, Oct. 6, 2011 /PRNewswire/ -- Telephone and Data
Systems, Inc. (NYSE: TDS, TDS.S) today announced that it adjourned
the special meeting of shareholders that was originally scheduled
for October 6, 2011, to approve
amendments to its restated certificate of incorporation and related
proposals.
The meeting will be adjourned until 2:00
p.m., October 20, 2011, in
order to solicit additional votes for approval of all of the
proposals set forth in the Proxy Statement dated August 31, 2011. The adjourned meeting will
be held at the Standard Club, 320 S. Plymouth Court, Chicago, Illinois.
At the Special Meeting on October 6,
2011, TDS opened the polls for voting only for Proposal 8,
the Adjournment Proposal. There were sufficient votes FOR the
approval of Proposal 8. Accordingly, TDS adjourned the
Special Meeting for the purpose of seeking additional votes for
approval of Proposals 1 through 4.
Proposals 1 and 2 relate to an amendment to the TDS restated
certificate of incorporation to reclassify its Special Common
Shares as Common Shares on a one-for-one basis, and Proposals 3 and
4 relate to a vote amendment that will set the aggregate voting
power of the Series A Common Shares and Common Shares at current
levels, subject to adjustment as indicated in the Proxy Statement
dated August 31, 2011.
Also, Proposals 5, 6 and 7 are conditioned on approval of
Proposals 1, 2, 3 and 4. Accordingly, the vote on Proposals 1
through 7 will be deferred until the adjourned meeting.
Shareholders who have not voted are asked to submit a proxy card
to vote for each of the proposals. Shareholders who
previously voted against any of the proposals are asked to submit a
revised proxy card to vote FOR each proposal. If you no
longer have a proxy card, additional copies may be obtained from
our Proxy Solicitor: MacKenzie
Partners, 105 Madison Avenue New
York, New York 10016, (212) 929-5500 (Call Collect), or CALL
TOLL-FREE (800) 322-2885 FAX:
(212) 929-0308. If you own your shares through a financial
institution, please contact the institution to advise them that you
wish to vote or change your vote for each proposal.
IMPORTANT INFORMATION: The foregoing information is not a
solicitation of a proxy from any TDS shareholder. This is
being done only pursuant to a definitive proxy statement.
Additional information relating to the foregoing is included in
TDS' proxy materials filed with the SEC and distributed to
shareholders. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO
READ SUCH MATERIALS BECAUSE THEY CONTAIN IMPORTANT INFORMATION.
Shareholders and other investors may access such materials without
charge at the SEC's web site (www.sec.gov) and on the TDS web site
(www.teldta.com) in the Investor Relations section on the SEC
filings page. In addition, shareholders may obtain free copies of
the proxy materials by contacting TDS' proxy solicitor, MacKenzie
Partners at (800) 322-2885. TDS and its executive officers
and directors may be deemed to be participants in the solicitation
of proxies from TDS shareholders on behalf of the TDS board of
directors in connection with the foregoing. Information
concerning such participants and their respective direct or
indirect interests in TDS by security holdings or otherwise is
included in TDS' definitive proxy statement.
About TDS
Telephone and Data Systems, Inc. (TDS), a Fortune 500® company,
provides wireless, local and long-distance telephone and broadband
services to approximately 7.1 million customers in 36 states
through its business units, U.S. Cellular (wireless) and TDS
Telecom (wireline). Founded in 1969 and headquartered in
Chicago, TDS employed 12,300
people as of June 30, 2011.
Visit www.teldta.com for comprehensive financial information,
including earnings releases, quarterly and annual filings,
shareholder information and more.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: All information set forth in this news
release, except historical and factual information, represents
forward-looking statements. This includes all statements about the
company's plans, beliefs, estimates and expectations. These
statements are based on current estimates, projections and
assumptions, which involve certain risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Important factors that may affect these
forward-looking statements include, but are not limited to: the
ability of the company to successfully grow its markets; the
overall economy; competition; the access to and pricing of
unbundled network elements; the ability to obtain or maintain
roaming arrangements with other carriers; the state and federal
telecommunications regulatory environment; the value of assets and
investments; adverse changes in the ratings afforded TDS and U.S.
Cellular debt securities by accredited ratings organizations;
industry consolidation; advances in telecommunications technology;
uncertainty of access to the capital markets; pending and future
litigation; changes in income tax rates, laws, regulations or
rulings; acquisitions/divestitures of properties and/or licenses;
and changes in customer growth rates, average monthly revenue per
unit, churn rates, roaming revenue and terms, the availability of
handset devices, or the mix of products and services offered by
U.S. Cellular and TDS Telecom. Investors are encouraged to consider
these and other risks and uncertainties that are discussed in the
Form 8-K used by TDS to furnish this press release to the SEC,
which are incorporated by reference herein.
For more information about TDS and its subsidiaries, visit our
web sites at:
TDS: www.teldta.com
TDS Telecom:
www.tdstelecom.com
USM: www.uscellular.com
SOURCE Telephone and Data Systems, Inc.