General Environmental Management, Inc. announced today that, at a Special Meeting of Stockholders held on February 19, 2010, shareholders approved the Purchase Agreement dated as of November 25, 2009, by and between GEM and Luntz Acquisition (Delaware) LLC.
According to the press release, 8,228,864 GEM common shares (approximately 56.53 percent of the outstanding common shares) were represented at the meeting, in person or by proxy. The agreement was approved by 99.77 percent of the shares voted and 56.40 percent of the shares outstanding.
The closing of the transaction is expected to occur before the end of this month.
“I am very pleased with the shareholders vote to approve the transaction with Luntz Acquisition LLC,” stated Tim Koziol, CEO. “This vote clears the way for the company to move forward and focus our energies in the waste water treatment and waste to energy markets.”
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