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ASH > SEC Filings for ASH > Form 8-K on 19-Sep-2013All Recent SEC Filings

Show all filings for ASHLAND INC.

Form 8-K for ASHLAND INC.


19-Sep-2013

Regulation FD Disclosure


Item 7.01. Regulation FD Disclosure

On September 18, 2013, Ashland Inc.'s Board of Directors unanimously voted in favor of a proposed amendment to the Company's articles of incorporation to provide for the phased elimination of the classified board structure and to require the annual election of all directors. The Board will submit the proposed amendment, with a recommendation that shareholders vote for its approval, at Ashland's 2014 annual meeting, to be held on January 30, 2014. Approval of the proposed amendment requires the affirmative vote of holders of 80% or more of the voting power of the outstanding voting stock at the 2014 annual meeting.

The Board of Directors is currently divided into three classes, and each class of directors is elected for a three-year term. If the proposed amendment is approved by the shareholders, directors standing for election beginning at the 2015 annual meeting will be elected to one-year terms of office. Directors who have been elected prior to the 2015 annual meeting would complete their respective three-year terms, and thereafter would be eligible for annual re-election. If the proposed amendment is approved, all directors will be elected on an annual basis beginning with the 2017 annual meeting. The full text of the proposed amendment will be included in Ashland's proxy statement to be filed with the Securities and Exchange Commission in December 2013.

Ashland is furnishing this information pursuant to the Securities and Exchange Commission's Regulation FD. By furnishing this Current Report on Form 8-K, Ashland makes no admission as to the materiality of any information in this report.

Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Ashland has identified some of these forward-looking statements with words such as "anticipates," "believes," "expects," "estimates," "may," "will," "should" and "intends" and the negatives of these words or other comparable terminology. In addition, Ashland may from time to time make forward-looking statements in its filings with the Securities and Exchange Commission (SEC), news releases and other written and oral communications. These forward-looking statements are based on Ashland's expectations and assumptions, as of the date such statements are made, regarding Ashland's future operating performance and financial condition, the economy and other future events or circumstances. Ashland's expectations and assumptions include, without limitation, internal forecasts and analyses of current and future market conditions and trends, management plans and strategies, operating efficiencies and economic conditions (such as prices, supply and demand, cost of raw materials, and the ability to recover raw-material cost increases through price increases), and risks and uncertainties associated with the following:
Ashland's substantial indebtedness (including the possibility that such indebtedness and related restrictive covenants may adversely affect Ashland's future cash flows, results of operations, financial condition and its ability to repay debt), the potential strategic transaction involving Ashland Water Technologies and the potential sale of the elastomers business (including, in each case, the possibility that a transaction may not occur or that, if a transaction does occur, Ashland may not realize the anticipated benefits from such transaction), Ashland's ability to generate sufficient cash to finance its stock repurchase plans, severe weather, natural disasters, and legal proceedings and claims (including environmental and asbestos matters). Various risks and uncertainties may cause actual results to differ materially from those stated, projected or implied by any forward-looking statements, including, without limitation, risks and uncertainties affecting Ashland that are described in its most recent Form 10-K (including Item 1A Risk Factors) filed with the SEC, which is available on Ashland's website at http://investor.ashland.com or on the SEC's website at www.sec.gov. Ashland believes its expectations and assumptions are reasonable, but there can be no assurance that the expectations reflected herein will be achieved. Ashland undertakes no obligation to subsequently update any forward-looking statements made in this Current Report on Form 8-K or otherwise except as required by securities or other applicable law.

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