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Gabelli Asset Management Company is pleased to announce that its resolution supporting the elimination
of Thomas Industries Inc.'s "poison pill" was approved by 63% of the shareholders voting at its annual
meeting held today.
"We are delighted that we are victorious this year in our endeavors to eliminate the poison pill. An
identical proposal last year received support from only 18% of the votes cast. This year the shareholders
have spoken. Gabelli has long advocated corporate governance initiatives against poison pills and stock
option plans. Poison pills clearly upset the proper balance of power between shareholders and management
as they allow the board to arrogate to itself the power to determine what is a fair price that a
potential buyer must pay to acquire a company.
We hope that Thomas Industries' Board of Directors will listen to the firm voice of its shareholders
after this windfall," said a representative of Gabelli.
Gabelli Asset Management Company, a subsidiary of Gabelli Asset Management Inc. (GBL:NYSE), provides
investment management services to institutional and high net worth investors. Gabelli Asset Management
Inc. has approximately $28 billion in assets under management.
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