FAIRFIELD, N.J., Aug. 12 /PRNewswire-FirstCall/ -- Danielson Holding Corporation announced that its 2005 Annual Meeting of Stockholders will be held on September 19, 2005 at the Hempstead Resource Recovery Facility, which is owned by its subsidiary, Covanta Energy Corporation, and located in Westbury, New York. The Board of Directors also set August 17, 2005 as the record date for holders of Danielson's common stock authorized to vote at such Annual Meeting of Stockholders.
Danielson also announced that Samuel Zell, former Chairman and Chief Executive Officer of Danielson, and Anthony J. Orlando, Danielson's current Chief Executive Officer, have been nominated to stand for election to the Board of Directors, in addition to the incumbent directors. Upon election by the stockholders of a new slate of directors at the Annual Meeting, it is expected that Mr. Zell would once again serve as Chairman of the Board of Directors. Mr. Zell served as a member of Danielson's Board of Directors from 1999 to 2004 and as its Chairman from 2002 to 2004.
Danielson also announced in its preliminary proxy filing with the Securities and Exchange Commission that at the Annual Meeting it will seek stockholder approval to, among other matters, amend its Certificate of Incorporation to change Danielson's name to "Covanta Holding Corporation."
Danielson Holding Corporation is an American Stock Exchange listed company, engaging in waste disposal, energy services and specialty insurance through its subsidiaries. Danielson's subsidiary, Covanta Energy Corporation, is an internationally recognized owner and operator of waste-to-energy and power generation projects. Covanta's waste-to-energy facilities convert municipal solid waste into renewable energy for numerous communities, predominantly in the United States.
NOTE: Danielson's charter contains restrictions that prohibit parties from acquiring 5% or more of Danielson's common stock without its prior consent.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission, all as may be amended from time to time. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Danielson and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward- looking statements. Statements that are not historical fact are forward- looking statements. Forward looking statements can be identified by, among other things, the use of forward-looking language, such as the words "plan," "believe," "expect," "anticipate," "intend," "estimate," "project," "may," "will," "would," "could," "should," "seeks," or "scheduled to," "proposed," or other similar words, or the negative of these terms or other variations of these terms or comparable language, or by discussion of strategy or intentions. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. Danielson cautions investors that any forward-looking statements made by Danielson are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Danielson, include, but are not limited to, those factors, risks and uncertainties that are described in Item 1 of Danielson's Annual Report on Form 10-K for the year ended December 31, 2004, as amended, and in other securities filings by Danielson or Covanta.
Although Danielson believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements. Danielson's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and Danielson does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.
