Cincinnati Bell 2007 Annual Report Download - page 40
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Vote Required
The proposals to amend the Amended Articles of Incorporation to require a majority vote for election of a
director and to amend the Amended Regulations to handle any holdover directors are being presented for
approval together as a package because, if the majority vote standard is not approved, there are no holdover
director issues. Under plurality voting, the directors who receive the most votes are elected and, therefore, there
are no holdover directors.
Adoption of the proposed amendments to the Amended Articles of Incorporation and the Amended
Regulations requires the affirmative vote of the holders of two-thirds of the issued and outstanding common
shares and 6
3
⁄
4
% Cumulative Convertible Preferred Shares, voting as one class. Accordingly, abstentions from
voting and broker non-votes will have the effect of a vote against the proposed amendments.
The Board recommends a vote FOR the proposed amendments.
Effect of Management Vote on Proposal
Because the directors and officers of the Company own beneficially 8,091,316 voting shares or 3.3 percent
of the outstanding voting securities, their votes are not likely to have a material impact on whether the proposal is
adopted.
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