Hickman-Fulton Counties Rural Electric Cooperative Corporation members have voted strongly in favor of the proposed merger with Gibson Electric Membership Corporation. The auditing firm of Jackson Thornton reported the results of the vote to Interim President and CEO Debbie Weatherford on Thursday afternoon. Jackson Thornton reported that of the 2,672 voting ballots the auditing firm mailed to HFRECC members, 1,953 were returned with 1,711 “Yes” votes and 242 “No” votes. Both HFRECC merger vote requirements (a majority of all members voted yes; and two-thirds of those who voted, voted yes) were met. In fact, a super majority – 88 percent of all those who voted - voted in favor of the merger.
HFRECC Board Chairman David Kimbell says, “We’re really pleased with the high level of participation by our members in the merger vote and we’re also pleased with the outcome of the vote. The strength of the “yes” vote affirms the hard work that we’ve done thus far and clearly sets our direction going forward,” he says.
The next step in the process toward a merger is Gibson EMC’s membership vote. Gibson EMC’s members will vote on the proposed merger at a Special Meeting (held in conjunction with a Member Appreciation Event) at 12:30 p.m. on November 17 at the co-op’s Tiptonville Member Service Center.
Gibson EMC is required to have two-thirds of its voting members to vote in favor of the merger for it to pass. If Gibson EMC’s members vote against the merger, merger plans will end. If they vote in favor of the merger, it will become effective January 1, 2016.
Weatherford says HFRECC will keep its members informed of developments related to the merger through the Kentucky Living magazine and the co-op’s website.