Red Oak and their proxy solicitation was successful in getting 5 of their 6 Director nominees elected onto the ASUR BoD..
http://www.marketwire.com/press-release/Asure-Software-NASDAQ-ASUR-1037660.html
Monday August 31, 2009 - 12:57 PM EDT
AUSTIN, TX -- (Marketwire) -- 08/31/09 -- Asure Software (NASDAQ: ASUR), a leading provider of workforce management software, Red Oak Partners, LLC, and Pinnacle Fund LLLP announced today that Pat Goepel, Bob Graham, Jeff Vogel, Adrian Pertierra, and David Sandberg were elected at Asure's 2009 Annual Meeting of Stockholders, held on Friday, August 28, to serve as the Company's board of directors. According to the certified election results, each of Pinnacle's nominees received between 57% to 67% of votes cast vs. between 27% to 29% for each of the prior Board's nominees, with a quorum representing approximately 62% of the total voting shares outstanding.
"We are grateful for the overwhelming support shown for our slate of Directors and intend to improve both corporate governance and transparency in the near-term," stated David Sandberg, Managing Partner of Red Oak Partners and newly elected Chairman of Asure's Board of Directors. "The new Board is highly vested and intent on both rationalizing public company expenses (starting with my Director fees, which will be $1/year) and working with Asure's employees to grow and unlock the value of the business."
