Razor-Thin Margins Cast Cloud Over Massey Director Vote

CtW Calls on Company to Immediately Release Final Tallies

WASHINGTON, May 18 /PRNewswire/ -- The following is a statement from the CtW Investment Group Executive Director William Patterson regarding the results of the shareholder vote at today's Massey Energy Company (NYSE: MEE) annual meeting.  

"Preliminary tallies indicate that shareholders cast 49.8% of their shares against Dan Moore, 49.6% against Baxter Phillips Jr., and 48.5% against Richard Gabrys.  This razor thin vote casts a cloud over the legitimacy of the current Massey board and is a clear demand for new directors who will make needed changes in company leadership. The opposition votes against the Massey directors were the highest of any this year at an S&P 500 company.  Despite demands from shareholders at the meeting today, the Company refused to disclose the actual vote count and that nearly half of the voting shares appear to have opposed these directors' election."

"The onus is now on the Massey board to address the underlying concerns that drove today's huge shareholder opposition vote."

For additional information, visit www.ctwinvestmentgroup.com.

SOURCE CtW Investment Group