Aug 22, 2001
Shareholders, the company said, voted by a slim margin against a proposal to elect a new board of directors. The vote was requested by Dyna Technology Inc. of Utah, owned by Ralph Call and his wife Nola, who own more than 10 percent of Winland's shares.
Through Dyna Technology, the Calls had asked the shareholders to vote in a new board because of Winland Electronics' low earnings and stock price. Winland posted a net loss of 9 cents per share, or $254,000, for the second quarter, and its stock closed Tuesday at $1.20 on the American Stock Exchange.
At Tuesday's meeting 85 percent of the stock was voted. Approximately 45 percent of those shares were voted against the proposed new board, 39 percent were in favor.
Winland Electronics designs and manufactures custom electronic control products.
