Risk Metrics Group Recommends Approval of Increasing Authorized Shares for The Andersons, Inc.

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Apr 26, 2010, 04:25 ET

MAUMEE, Ohio, April 26 /PRNewswire-FirstCall/ -- The Andersons, Inc. (Nasdaq: ANDE) today announced that the Risk Metrics Group of ISS Proxy Advisory Services, an independent proxy advisory service, has issued its proxy analysis and vote recommendation "For" the Company's proxy proposals to re-elect the Board of Directors, to approve the auditor and to increase its authorized shares of common stock.

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Regarding the request to increase the number of authorized shares of common stock, the ISS Proxy Advisory Services of Risk Metrics Group reported "A vote FOR the proposal is warranted because the rationale and size of the request are reasonable..."

The request proposes increasing the number of authorized shares of common stock, no par value, by 17 million shares from 25 million to 42 million shares, during the Company's annual meeting of shareholders on May 7, 2010. The Company's current 1 million shares of authorized preferred stock, no par value, would be unchanged. The Company, at this time, has no plans to issue the additional common shares.

"While we have no current plans to issue any additional shares, we believe the proposed increase in the number of shares available for issuance will allow the company additional flexibility," said Nick Conrad, V.P. Finance & Treasurer.

About The Andersons, Inc.

The Andersons, Inc. is a diversified company with interests in the grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as in railcar leasing and repair, turf products production, and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now has operations in 16 U.S. states and Puerto Rico, plus rail equipment leasing interests in Canada and Mexico. For more information, visit The Andersons online at www.andersonsinc.com.

SOURCE The Andersons, Inc.