TORONTO, June 23 /CNW/ - The UBS (Unique Broadband Systems, Inc.) Concerned Shareholders ("Concerned Shareholders") are pleased to report that YELLOW proxies continue to be voted as shareholders support an alternative to the current Board and management. Momentum is building as fellow shareholders react in shock and disbelief as they learn about what has transpired.
"From the well-attended Town Hall Meeting last week, to firsthand conversations we've had with fellow shareholders, to the YELLOW proxies that are streaming in, I am optimistic that we are going to get this done and bring much needed change to UBS. It is clear that shareholders have had enough," said Robert Ulicki, President, Clareste Wealth Management Inc., speaking on behalf of the UBS Concerned Shareholders. "UBS' failure to respond to any of the serious governance issues highlighted in the Concerned Shareholders' information circular and on www.saveubs.com speaks volumes. Fellow shareholders can only conclude that there is no reasonable defense to what has transpired and that the incumbent management team is hoping shareholders fail to vote every last YELLOW proxy."
Now is the time for ALL shareholders to vote their YELLOW proxy as every vote counts. Make sure your proxy is received prior to the June 29, 2010, 5 p.m. (Toronto Time) deadline. Go to www.saveubs.com or call 1-866-879-7650 for more information or if you need assistance in voting your shares.
Town Hall Meeting A Success
The UBS Concerned Shareholders hosted a Town Hall Meeting on Thursday, June 17, 2010. Fellow shareholders, filling the room in person with many more participating by phone, met the Concerned Shareholders' director nominees and participated in a lively question and answer session. The passionate displeasure of participants with the incumbent Board and Management Team was evident and the Concerned Shareholders' director nominees appreciated the rousing ovation they received at the end of the session. For a summary of what transpired at the Town Hall Meeting, please go to www.saveubs.com.
How to cast your vote in support of the Concerned Shareholders
If your UBS common shares are held in a brokerage account or otherwise through an intermediary you are a "beneficial shareholder" and a voting Instruction Form was mailed to you. Only vote your YELLOW voting Instruction Form as follows:
Visit www.proxyvote.com and enter your YELLOW 12 digit control number or call 1-800-474-7493 or fax your Voting Instruction Form to 905-507-7793 or toll free at 1-866-623-5305 in order to ensure that it is received by the deadline.
Visit www.proxyvote.com and enter your YELLOW 12 digit control number or call 1-800-454-8683.
If your UBS common shares are held in your own name, you are a "registered shareholder" and must submit your proxy in the postage paid envelope in sufficient time to ensure your votes are received by the offices of KINGSDALE SHAREHOLDER SERVICES INC. Attention: Proxy Department, at 130 King Street West, Suite 2950, P.O. Box 361, Toronto, Ontario, Canada M5X 1E2 or by fax to 416-867-2271 or toll-free fax 1-866-545-5580 no later than 5 p.m. (Toronto Time) on Tuesday, June 29, 2010.
About The UBS Concerned Shareholders
The UBS Concerned Shareholders are a group of investors, mostly individuals, who came together in response to the publicity that has occurred surrounding the extraordinary $22.7 million of executive and director compensation awarded in 2009 at UBS and LOOK in the face of dismal performance and plummeting share values. These shareholders have spent their time and their own resources over the past months to demand information, alert regulators, assess legal options, and ultimately take action in order to attempt to rectify and improve the situation on behalf of all shareholders of UBS.
Robert Ulicki, Grant McCutcheon and Henry Eaton are the UBS Concerned Shareholders' Director Nominees. These individuals would bring integrity, experience, and an Action Plan formulated to benefit shareholders to the Board. More information on each of the Concerned Shareholders' Director Nominees and the Action Plan is contained in the Information Circular dated June 3, 2010.
About The Special Meeting
The Special Meeting of Shareholders of UBS is scheduled to be held at 9:00 a.m. (Toronto Time) on Monday, July 5, 2010 at 8250 Lawson Road, Milton, Ontario, L9T 5C6, the principal and registered office of UBS.
Proxy Voting Deadline
Shareholders are reminded to not delay and vote the YELLOW proxy form so that it can be received no later than 5:00 p.m. (Toronto Time) on Tuesday, June 29, 2010. Detailed voting instructions are included in the Concerned Shareholders' Information Circular. Further information about voting the YELLOW proxy is available from Kingsdale Shareholder Services at 1-866-879-7650.
Unless otherwise noted, the information concerning UBS, Look Communications Inc. ("Look") and their directors and officers contained in this press release has been taken from, or is based upon or derived from, publicly available documents or records on file with Canadian securities regulatory authorities and other public sources. Although, the Concerned Shareholders have no knowledge that would indicate that any statements contained in such publicly filed documents are untrue or incomplete, the Concerned Shareholders do not assume responsibility for the accuracy or completeness of such information or for any failure by UBS or Look to disclose material information which may affect the significance or accuracy of such information.
Certain statements contained in this press release constitute forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Concerned Shareholders, the Concerned Shareholders' nominees, UBS or Look, are intended to identify forward-looking statements. Such statements reflect the Concerned Shareholders' current views with respect to future events and are subject to certain risks, uncertainties and assumptions. The Concerned Shareholders' nominees assume no responsibility for any such statements. Many factors could cause actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include, but are not limited to, the financial condition and cash flow of UBS and Look, binding contractual covenants entered into by UBS and/or Look, pending or future litigation involving UBS and/or Look, general market conditions, the market for and regulations surrounding the purchase and sale of tax losses and other general business, technological, competitive and regulatory factors. Neither the Concerned Shareholders nor their director nominees assume any obligation to update or revise the forward looking statements contained in this press release to reflect actual events or new circumstances.
SOURCE UNIQUE BROADBAND SYSTEMS, INC. CONCERNED SHAREHOLDERS
For further information: For further information: Investors, www.saveubs.com, Kingsdale Shareholder Services Inc., 1-866-879-7650; Media, Joel Shaffer, Kingsdale Communications Inc., 416-867-2327