Penske Automotive to Hold Audio Annual Meeting

It’s unlike Penske to exclude the press?

Penske Automotive Group (NYSE:PAG) today announced its 2020 Annual Meeting of Stockholders due to the continued public health concerns regarding COVID-19, including the restrictions on in-person gatherings in Michigan, that the 2020 Annual Meeting will be conducted by remote communication.

As previously announced, the 2020 Annual Meeting will be held on Wednesday, 13 May 2020 at 8:00 a.m., EDT. Stockholders will not be able to attend the Annual Meeting in person; however, stockholders will be afforded the same rights and opportunities to participate as they would at an in-person meeting. Only stockholders of record at the close of business on 17 March 2020 are entitled to vote at or attend the Annual Meeting. Penske Automotive  confirm that this means no media access. How this doesn’t violation SEC regulation FD is unclear.

Registered stockholders and beneficial owners as of the close of business on March 17, 2020 (the record date), must register in advance to attend the Annual Meeting. Requests for registration must be received by the Company no later than 5:00 p.m. Eastern Daylight Time, on May 8, 2020, at [email protected].

For registered stockholders and beneficial owners who have questions regarding this procedure, please call the Company at (248) 452-6605 for assistance.

Registered stockholders choosing to vote their shares at the Annual Meeting will be eligible to do so by opting into the queue as instructed during the Annual Meeting. Beneficial Owners are required to present a proxy from their Broker in advance of the Annual Meeting to verify ownership and then may opt into the queue during the Annual Meeting.

Questions and Information Accessibility

As part of the Annual Meeting, Penske will hold a live Q&A session during which we intend to answer questions submitted during the meeting that are pertinent to the Company and meeting matters, as time permits.

Also, Penske will make available, through electronic means, a list of stockholders of record as of the record date for inspection by stockholders for any purpose germane to the Annual Meeting during the ten days preceding the Annual Meeting. To access the electronic shareholders list, please send your request, and proof of stock ownership, to [email protected].