KAHULUI, Hawaii, May 10, 2010 (BUSINESS WIRE) — Maui Land & Pineapple Company, Inc. reported a net loss of $2.7 million or $0.33 per share for the first quarter of 2010, compared to a net loss of $13.2 million or $1.65 per share for the first quarter of 2009. Consolidated revenues were $10.7 million for both the first quarter of 2010 and 2009. Better operating performance and overhead cost reductions, and $3.4 million of gains due to the termination of the Company’s post-retirement life insurance plan and the elimination of medical benefits for non-bargaining retirees resulted in improved financial performance in the first quarter of 2010. In addition, in December 2009, the Company ceased its Agriculture segment operations, which generated an operating loss of $2.5 million in the first quarter of 2009. The Company’s $50 million cash sale of the Plantation Golf Course in March 2009 was accounted for as a financing transaction and, accordingly, no gain was recognized in the first quarter of 2009 results.
SEC Filings for MLP – MAUI LAND & PINEAPPLE CO INC
Form 8-K for MAUI LAND & PINEAPPLE CO INC
19-Apr-2010
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.(e) On April 12, 2010, the Compensation Committee of the Board of Directors of Maui Land & Pineapple Company, Inc. (the "Company") approved an annual salary increase to $225,000 for Ryan L. Churchill. The compensation adjustment was made in recognition of Mr. Churchill’s February 8, 2010 appointment as the Company’s President and Chief Operating Officer.
MLP: MAUI LD & PINEAPPLE INC SEC Filings | SCHEDULE 14A Proxy Statement
MAUI LAND & PINEAPPLE COMPANY, INC.
April 19, 2010
To Our Shareholders:
We are pleased to invite you to our 2010 Annual Meeting of Shareholders, which will be held on Thursday, May 13, 2010 at 8:30 a.m. at the Kapalua Village Center Conference Room in Lahaina, Maui, Hawaii.
At the meeting, we will (1) vote upon an amendment to the Restated Articles of Association to change the minimum and maximum number of members of our Board of Directors to not less than five (5), nor more than nine (9), and to declassify the Board of Directors; (2) if Proposal No. 1 is approved, elect seven (7) members to our Board of Directors for a one-year term; (3) only if Proposal No. 1 is not approved, elect three Class Two directors for a three-year term; (4) vote upon an amendment to the Restated Articles of Association to authorize an additional 20,000,000 shares of the Company’s Common Stock; (5) ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm to serve for the 2010 fiscal year, and (6) transact such other business as may properly come before the meeting or any continuation, postponement or adjournment of the meeting. We know of no other matters to be brought up at the meeting.
This meeting is an opportunity to communicate with our shareholders and it is important that your shares be represented and voted whether or not you expect to attend the meeting in person. You may vote your shares by proxy using the Internet, by telephone, or by returning the enclosed proxy card or voting instruction form forwarded by your bank, broker or other holder of record. Please review the instructions on the enclosed proxy card or voting instruction form regarding each of these voting options. If you attend the meeting, you may withdraw your proxy and vote in person, if you wish.
We look forward to seeing you at the meeting should you be able to attend.
Sincerely,
WARREN H. HARUKI
Chairman
MAUI LAND & PINEAPPLE COMPANY, INC.
870 Haliimaile Road
Makawao, Maui, Hawaii 96768-9768
(808) 877-3351 begin_of_the_skype_highlighting (808) 877-3351 (808) 877-3351 (808) 877-3351 (808) 877-3351
NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
TO THE SHAREHOLDERS OF
MAUI LAND & PINEAPPLE COMPANY, INC.:Notice is hereby given that the Annual Meeting of Shareholders of Maui Land & Pineapple Company, Inc. will be held on Thursday, May 13, 2010 at 8:30 a.m., local time, at the Kapalua Village Center Conference Room in Lahaina, Maui, Hawaii for the following purposes:
Maui Land & Pineapple Company Inc. News – The New York Times
Latest Insider Trades
04/05/2010
CHURCHILL RYAN L
Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3Shares sold: 966
Share price: $6.24
Trans. value: $6,027.84
04/05/2010
SUMIDA ADELE H
Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3Shares sold: 644
Share price: $6.24
Trans. value: $4,018.56
04/05/2010
DURKIN JOHN P
Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3Shares sold: 966
Share price: $6.24
Trans. value: $6,027.84
Maui Land & Pineapple Company Inc. News – The New York Times
Summary of MAUI LAND & PINEAPPLE CO INC – Yahoo! Finance
Form 8-K for MAUI LAND & PINEAPPLE CO INC
2-Apr-2010
Other Events
Item 8.01. Other Events
Maui Land & Pineapple Company, Inc. announced today that the New York Stock Exchange has accepted the Company’s plan for continued listing on the NYSE. As a result, the Company’s common stock will continue to be listed on the NYSE, subject to quarterly reviews by the NYSE to monitor the Company’s progress against the plan.
The NYSE notified the Company on January 11, 2010, that the Company had fallen below the NYSE’s continued listing standard requiring that it maintain an average market capitalization of at least $50 million over a consecutive 30 trading-day period. With the acceptance of the plan, the Company has 18 months from the original notification date in which to comply with the average market capitalization standard, subject to its compliance with the NYSE’s other continued listing requirements.
Business Briefs – Hawaii Business – Star Bulletin
Maui Pine auction has good prices
KAHULUI » Maui Land & Pineapple Co. auctioned off a $23 million fresh fruit processing line for just $125,000.
Company President Ryan Churchill didn’t expect many bidders for the equipment because it is so specialized.
The auction held Tuesday at the Maui Beach Hotel drew more than 300 bargain hunters, with many more bidders online.
Maui Pine held the auction to sell off warehouses full of equipment after closing Maui’s last pineapple plantation late last year.
The company already has sold or leased some of its land and equipment to Haliimaile Pineapple Co. Haliimaile is trying to revive pineapple on a smaller scale.