Later today Palm will be hosting their annual stockholder meeting.
Palm, Inc. (Nasdaq:PALM) will hold its annual meeting of stockholders on Wednesday, Sept. 12, at 9 a.m. PDT at its headquarters, 950 W. Maude Ave., Sunnyvale, Calif. The record date for this meeting was set as Aug. 8, 2007. The agenda for the meeting is outlined in the company’s proxy statement filed with the Securities and Exchange Commission on Aug. 8, 2007.
During this meeting, I expect the vote for approving the Elevation Partners recapitalization deal. If approved, shareholders will receive a $9 dividend, Palm will receive about $325MM from Elevation, and Elevation will gain to seats on the Palm Board of Directors and two existing board members are expected to step down.