United Stated
Securities and Exchange Commission
Washington, D.C. 20549
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
Filed by the Registrant þ
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o Preliminary Proxy Statement
o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
o Definitive Proxy Statement
þ Definitive Additional Materials
o Soliciting Material Pursuant to Rule 14a-12
The Andersons, Inc.
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Fee computed on table below per Exchange Act Rules 14a-6(I)(1) and 0-11. |
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THE ANDERSONS, INC.
480 West Dussel Drive
Maumee, Ohio 43537
April 24, 2009
Dear Shareholder:
As you know, the annual meeting of shareholders of The Andersons, Inc. (the Company) will be
held at, at 8:00 a.m. local time on Friday, May 8, 2009 at The Andersons Headquarters Building,
480 West Dussel Drive, Maumee, Ohio 43537. The Notice of Annual Meeting, Proxy Statement and proxy
form were sent to you on or about March 17, 2009.
Within the Proxy Statement, the Companys Board of Directors recommended that our shareholders
vote for proposal 3 (The approval of an Amendment to the Companys Articles of Incorporation in
order to authorize 40,000,000 additional Common Shares). We are now
revising our request downward to only authorize
20,000,000 additional Common Shares. With the 25,000,000 Common Shares that are already authorized, the revised proposal would bring the total authorized
Common Shares to 45,000,000. This reduction will put our request below the maximum
increase supported by ISS Governance Services Risk Metrics Group, an international advisory
consultant that provides advice to institutional investors on corporate governance and proxy
issues.
The Board of Directors believes that having additional Common Shares available for issuance is
in the best interest of the Company. These shares would be available for issuance for stock
dividends, stock splits, retirement of indebtedness, employee benefit programs, corporate business
combinations, acquisitions, debt leverage management, working capital or other corporate purposes.
The Board of Directors believes the current number of authorized and unissued common shares
available for issuance is too limited to allow prompt or flexible action by the Board if and when
needed. The Board does not intend to issue any stock except for reasons and on terms which the
Board deems to be in the best interests of the Company. The Company has no current plan to issue
any of the proposed additional authorized shares. The Board of Directors is comfortable that the
additional 20,000,000 Common shares should provide sufficient flexibility for the near future.
Following is the revised Amendment to the Companys Articles of Incorporation originally
presented in Appendix A in the Proxy Statement:
Amended Article Fourth (a) of the Amended and Restated Articles of Incorporation
of the Corporation
(a) Authorized Shares. The total number of shares the Corporation has authority to issue
is 46,000,000 shares, consisting of 1,000,000 preferred shares, no par value per share (the
Preferred Shares), and 45,000,000 common shares, no par value per share (the Common Shares).
The number of authorized Preferred Shares may not be decreased unless such decrease is approved by
the affirmative vote of the holders of not less than two-thirds (2/3) of the outstanding Common
Shares. Any such decrease may be
effected without vote of the holders of the Preferred Shares, or of any series thereof, unless a
vote of any such holders is required pursuant to the instrument designating the terms of a series
of Preferred Shares. In no event may the number of authorized Preferred Shares be decreased below
the number of shares thereof then outstanding. Any issuance of shares of the Corporation must be
approved by directors constituting not less than two-thirds (2/3) of the directors then in office.
If you have already voted and you wish to change your vote on proposal 3 (The approval of an
Amendment to the Companys Articles of Incorporation in order to authorize 40,000,000 additional
Common Shares) in light of the amendment described above, you may revoke your proxy by filing a
notice of revocation or a duly executed proxy bearing a later date with the Secretary of the
Company or by attending the annual meeting and voting in person. For shares you have beneficially
in street name, you may change your voted by submitting new voting instructions to your broker,
bank or other nominee or, if you have obtained a legal proxy from your broker, bank or other
nominee giving you the right to vote your shares, by attending the meeting and voting in person.
If you have already voted your shares and do not wish to change your vote, however, no further
action is necessary and your vote will be counted either for or
against proposal 3, in its amended form, pursuant to the proxy
authority that you previously granted. For additional information on how to changes your vote,
please contact Mary Schroeder at the Company at (419)891-6418.
Thank you for your continued support.
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Sincerely,
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/s/ Richard P. Anderson
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Richard P. Anderson |
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Chairman of the Board |
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The information provided above may be deemed additional soliciting materials within the
meaning of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the
Securities and Exchange Commission issued thereunder.