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Limbach Holdings Provides Update on Annual Meeting Format

Meeting to Take Place in Virtual Format Due to Public Health Concerns Related to COVID-19

PITTSBURGH--(BUSINESS WIRE)-- Limbach Holdings (the “Company”) (NASDAQ:LMB), a specialty contractor providing heating, ventilation, air-conditioning, plumbing, electrical and building controls design, engineering, installation and maintenance services in commercial, institutional and light industrial markets, announced today that it will hold a virtual Annual Meeting of Stockholders on July 14, 2020 (“Annual Meeting”) due to the public health impact of the COVID-19 pandemic and to support the health of its stockholders, directors, employees and community.

The Annual Meeting will be held on the same date and time as originally scheduled, July 14, 2020 at 9:00 a.m. local time. Stockholders interested in attending the Annual Meeting are required to register by 11:59 p.m. local time on July 12, 2020 at https://viewproxy.com/limbach/2020/. The Company urges stockholders to vote and submit proxies in advance of the Annual Meeting by one of the methods described in the proxy materials for the Annual Meeting.

For additional information regarding how stockholders may access, vote and participate in the Annual Meeting, please refer to the Company’s supplemental proxy materials filed today and the proxy materials previously filed with the Securities and Exchange Commission. The proxy card and voting instruction form included with the previously distributed proxy materials will not be updated to reflect the change in location of the meeting, but they may continue to be used to vote shares of common stock on the proposals to be presented at the virtual Annual Meeting. Stockholders who have previously voted do not need to take any further action.

Although the Annual Meeting will be held in a virtual-only format this year, the Company remains committed to stockholder engagement and currently intends to return to an in-person annual meeting for future annual meetings held under normal circumstances.

Attending the Annual Meeting

Stockholders will not be able to attend the Annual Meeting in person. Instead, stockholders should follow the instructions provided below to attend the virtual Annual Meeting. Stockholders who attend the virtual Annual Meeting by following the instructions below will have an opportunity to vote and to submit questions electronically during the meeting.

  • Stockholders of Record: If you were a stockholder of record at the close of business on May 18, 2020 (i.e., your shares are held in your own name in the records of the Company’s transfer agent), you must register by 11:59 p.m. local time on July 12, 2020 at https://viewproxy.com/limbach/2020/. You will then be provided with a unique join link via a meeting invitation email to attend the virtual Annual Meeting. You may then attend the virtual Annual Meeting on July 14, 2020 at 9:00 a.m. local time by referring back to your meeting invitation email for your unique join link. Please click that link and use the password that was e-mailed to you two days prior to the meeting. You may vote during the virtual Annual Meeting using the control number provided to you during registration. If you are a stockholder of record and you have misplaced your control number in order to vote during the virtual meeting, please call Alliance Advisors at 1-866-612-8937.
  • Beneficial Owners: If you were a beneficial owner of common stock of the Company at the close of business on May 18, 2020 (i.e., you hold your shares in “street name” through an intermediary, such as a bank, broker or other nominee), to attend the virtual Annual Meeting, you must follow the steps below in order to register in advance of the Annual Meeting:
    • Obtain a legal proxy from the bank, broker or other nominee that is the record holder of your shares.
    • In order to register to attend the virtual Annual Meeting, visit the registration site at https://viewproxy.com/limbach/2020/. You will then be provided with a unique join link via a meeting invitation email to attend the virtual annual meeting on July 14, 2020 at 9:00 a.m. local time and a control number to be used for voting during the virtual annual meeting. You may then attend the virtual Annual Meeting on July 14, 2020 at 9:00 a.m. local time by referring back to your meeting invitation email for your unique join link. Please click that link and use the password that was e-mailed to you two days prior to the meeting. You may vote during the virtual meeting using the control number provided to you during registration. If you are a beneficial owner and you have misplaced your control number in order to vote during the virtual meeting, please call Alliance Advisors at 1-866-612-8937.

Obtaining a legal proxy may take several days and stockholders are advised to register as far in advance as possible. The Company can provide no assurances that registration requests will be processed if they are not submitted by 11:59 p.m. local time on July 12, 2020.

About Limbach Holdings

Founded in 1901, the Company is the 12th largest mechanical systems solutions firm in the United States as determined by Engineering News Record. The Company provides building infrastructure services, with an expertise in the design, installation and maintenance of HVAC and mechanical, electrical, and plumbing systems for a diversified group of commercial and institutional building owners. The Company employs more than 1,500 employees in 22 offices throughout the United States. The Company’s full life-cycle capabilities, from concept design and engineering through system commissioning and recurring 24/7 service and maintenance, position the Company as a value-added and essential partner for building owners, construction managers, general contractors and energy service companies.

Caution Concerning Forward-Looking Statements

This release contains forward-looking statements regarding the Company and represents the Company’s expectations and beliefs concerning future events. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties. The forward-looking statements included herein or incorporated herein by reference include or may include, but are not limited to, (and you should read carefully) statements that are predictive in nature, depend upon or refer to future events or conditions, or use or contain words, terms, phrases, or expressions such as “achieve,” “forecast,” “plan,” “propose,” “strategy,” “envision,” “hope,” “will,” “continue,” “potential,” “expect,” “believe,” “anticipate,” “project,” “estimate,” “predict,” “intend,” “should,” “could,” “may,” “might,” or similar words, terms, phrases, or expressions or the negative of any of these terms. Any statements in this release that are not based upon historical fact are forward-looking statements and represent the Company’s best judgment as to what may occur in the future.

The following are some, but not all, of the facts that might cause business conditions or the Company’s actual results, performance or achievements to be materially different from those expressed or implied by any forward-looking statements, or contribute to such differences: the Company’s ability to realize projected revenue in its contract backlog; cost overruns on fixed-price or similar contracts or failure to receive timely or proper payments on cost-reimbursable contracts, whether as a result of improper estimates, performance, disputes, or otherwise; the Company’s ability to realize cost savings from its expected performance of contracts, whether as a result of improper estimates, performance, or otherwise; increased competition; the Company’s ability to retain key personnel, efficiently utilize its workforce and comply with labor regulations; risks associated with labor productivity; uncertain timing and funding of new contract awards, as well as project cancellations; risks associated with design/build contracts; risks associated with dependence on a limited number of customers; changes in the costs or availability of, or delivery schedule for, equipment, components, materials, labor or subcontractors; adverse outcomes of pending claims or litigation or the possibility of new claims or litigation, and the potential effect of such claims or litigation on the Company’s business, financial position, results of operations and cash flow; risks associated with cost-to-cost method of accounting; the Company’s ability to provide surety bonds; risks associated with placing significant decision making power with the Company’s subsidiaries’ management and failure to coordinate procedures and practices across its branch locations; failure to keep pace with technological changes or innovation; risks associated with information technology system failures, network disruptions and/or cyber security breaches; lack of necessary liquidity to provide bid, performance, advance payment and retention bonds, guarantees, or letters of credit securing the Company’s obligations under its bids and contracts or to finance expenditures prior to the receipt of payment for the performance of contracts; failure to implement effective disclosure controls and procedures and internal controls over financial reporting; the Company’s ability to comply or remain in compliance with applicable federal, state and local laws, regulations or requirements; operating risks, which could lead to increased costs and affect the quality, costs or availability of, or delivery schedule for, equipment, components, materials, labor or subcontractors; adverse impacts from weather affecting the Company’s performance and timeliness of completion or deliberate and malicious acts, which could lead to increased costs and affect the quality, costs or availability of, or delivery schedule for, equipment, components, materials, labor or subcontractors; lower than expected growth in the Company’s primary end markets, risks inherent in acquisitions and the Company’s ability to complete or obtain financing for acquisitions; the Company’s ability to integrate and successfully operate and manage acquired businesses and the risks associated with those businesses; proposed and actual revisions to U.S. tax laws, which would seek to increase income taxes payable or a downturn, recession, disruption, or stagnation in the economy in general; fluctuating revenue resulting from a number of factors, including a decline in energy prices and the cyclical nature of the individual markets in which the Company’s customers operate; the Company’s ability to remain in compliance with covenants under its debt and credit agreements or service its indebtedness, including its ability to refinance its current debt obligations and incur additional indebtedness; the Company’s ability to settle or negotiate unapproved change orders and claims; the non-competitiveness or unavailability of, or lack of demand or loss of legal protection for, the Company’s intellectual property assets or rights; failure to remain competitive, current, in demand and profitable; and the potential impact of pandemic, epidemic, or outbreak of an infectious disease, including the COVID-19 pandemic.

The Company believes the expectations reflected in its forward-looking statements are reasonable, it cannot guarantee future performance or results. You should not unduly rely on any forward-looking statements. Each forward-looking statement is made and applies only as of the date of the particular statement, and the Company is not obligated to update, withdraw, or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should consider these risks when reading any forward-looking statements.

Investors:
The Equity Group, Inc.
Jeremy Hellman, CFA, Vice President
212-836-9626 / Jhellman@equityny.com
Or
Limbach Holdings, Inc.
S. Mathew Katz
Executive Vice President
(212) 201-7006 / matt.katz@limbachinc.com

Source: Limbach Holdings