NEW HOPE, Pa. -- (BUSINESS WIRE) -- MeetMe, Inc. (NYSE MKT: MEET), the public market leader for social discovery, today announced that at its 2013 Annual Meeting of Stockholders, the six director nominees standing for election, John Abbott, Jean Clifton, Geoffrey Cook, Ernesto Cruz, Spencer Rhodes and Alonso Ancira, were elected to the Board of Directors. Lars Batista and Malcolm Jozoff resigned from the Board prior to the Annual Meeting and did not stand for election.
In addition, the company entered into a 2014 Supplement to Securities Purchase Agreement with Mexicans & Americans Trading Together, Inc. (MATT), pursuant to which the company has agreed to fix the size of the Board at seven directors until the company’s 2014 Annual Meeting of Stockholders, after which the Board will be reduced to six members. The 2014 Supplement provides further that MATT will designate one person whom it believes is experienced in the Internet social networking industry and who has not previously served on the Board, and the Board will appoint such person as the Board’s seventh member. Furthermore, MATT has agreed to designate someone other than Alonso Ancira to serve as its Board designee following the company’s 2014 Annual Meeting. MATT currently has the right to such a designee pursuant to the terms of the original 2006 Securities Purchase Agreement that the 2014 Supplement amends.
On December 19, 2013, the Board approved August 11, 2014 as the date of its 2014 Annual Meeting of Stockholders.
About MeetMe, Inc.
MeetMe® is the leading social network for meeting new people in the US and the public market leader for social discovery (NYSE MKT: MEET). MeetMe makes meeting new people fun through social games and apps, monetized by both advertising and virtual currency. With 60% of traffic coming from mobile, MeetMe is fast becoming the social gathering place for the mobile generation. The company operates MeetMe.com and MeetMe apps on iPhone, iPad, and Android in multiple languages including English, Spanish, Portuguese, French, Italian, German, Chinese (traditional), Russian and Japanese.