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Evolving Systems: Evolving Systems Reports Results of Annual Stockholders' Meeting

^{Published on 2009-06-10 06:08:32, Last Modified on 2009-06-10 06:09:13 - Market Wire}
 

ENGLEWOOD, CO--(Marketwire - June 10, 2009) - Evolving Systems, Inc. (NASDAQ: [ EVOL ]), a leading provider of innovative software solutions and services to the wireless, wireline and cable market, today announced results from the Company's annual stockholders' meeting held on June 9, 2009.

The Company had solicited stockholder support on three proposals. By large margins stockholders re-elected three directors, Bruce W. Armstrong, George A. Hallenbeck and David J. Nicol; ratified the selection of Grant Thornton LLP as the Company's independent registered public accounting firm for the year ended December 31, 2009; and approved the proposal to amend the Company's Articles of Incorporation to effect a reverse stock split of the Company's common stock. The approval of the proposal to effect a reverse stock split will now allow the Board of Directors to carry out a reverse stock split at one of three reverse split ratios, 1-for-2, 1-for-3 or 1-for-4; the Board of Directors also has the discretion not to proceed with the reverse stock split.

"We are pleased that stockholders supported all three of the Company's proposals by wide margins," said Thad Dupper, president and CEO. "Our Board of Directors will carefully evaluate whether to proceed with the reverse stock split based upon the factors we outlined in our Proxy Statement and we will announce the Board's decision in the coming weeks."

The results of the proxy tabulation will be provided in the Company's Form 10-Q for the quarter ending June 30, 2009.

About Evolving Systems

Evolving Systems, Inc. (NASDAQ: [ EVOL ]) is a provider of software and services to more than 70 network operators in over 40 countries worldwide. Its portfolio includes market-leading products for Service Activation, Service Verification, Process Management, Dynamic SIM Allocation, Number Portability, Number Inventory and Mediation solutions. Founded in 1985, the Company has headquarters in Englewood, Colorado, with offices in the United Kingdom, Germany, India and Malaysia. Further information is available at [ www.evolving.com ]