April 23, 2009 (FinancialWire) — PMFG, Inc. (NASDAQ: PMFG) is asking company stockholders to okay an amendment to the company’s certificate of incorporation to authorize the issuance of five million shares of preferred stock. PFMG has filed a definitive proxy statement with the Securities and Exchange Commission related to a special meeting of stockholders to be held on June 16, 2009 at the company’s corporate headquarters at 10: 00 a.m. Dallas, Texas time.

Currently, the company’s certificate of incorporation provides only for the issuance of common stock. If approved by stockholders, the preferred stock would be issuable in one or more series, with such rights, preferences, privileges and restrictions as determined from time to time by the company’s board of directors.

The company’s board of directors believes that the company and its stockholders will benefit from the flexibility of having preferred stock available to be issued. The proposed amendment would allow the company to tailor the terms of each issuance of preferred stock to market conditions, capital raising opportunities or acquisition opportunities without the expense, delay and uncertainty that would result if stockholder approval was required for each issuance of preferred stock.

Peter J. Burlage, CEO, commented: “We believe that the option to issue preferred stock will provide us with greater financial flexibility and additional capital-raising options.”

Headquarted in Dallas, Texas, the company is a provider of custom engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. The company primarily serves the markets for power generation, natural gas infrastructure and petrochemical processing.

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