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The Children’s Place to Adopt Proxy Access Rights and Proposes Additional Shareholder Rights

Company Announces Other Corporate Governance Enhancements

SECAUCUS, N.J., Jan. 05, 2016 (GLOBE NEWSWIRE) -- The Children's Place, Inc.(Nasdaq:PLCE), the largest pure-play children's specialty apparel retailer in North America, today announced that its Board of Directors will adopt proxy access rights and will propose a set of additional shareholder rights for shareholder approval at the Company's 2016 Annual Meeting. In addition, its Board of Directors has taken steps to strengthen the Company's governance practices in the areas of director engagement and executive compensation, and to enhance disclosure practices. These governance enhancements and proposals underscore the Board's commitment to corporate governance best practices and are based on input received from a comprehensive outreach initiative to our major shareholders led by Dr. Joseph Alutto, Chair of the Nominating and Governance Committee, which included multiple discussions with shareholders holding approximately two-thirds of the Company's shares of common stock.

Dr. Alutto stated, "Our current governance framework provides important support for our business and promotes the achievement of our strategic initiatives, all in order to serve the best interests of our shareholders. We are proud of our governance practices, and we understand the importance of reassessing them regularly. Over the last several months, we sought input from our major shareholders concerning governance matters which are important to them, and we greatly appreciate their engagement with us in highly productive conversations. Following this outreach, our Board of Directors added to our strong governance framework by taking steps in the areas of shareholder rights, director engagement, executive compensation and disclosure practices that reflect its commitment to strong corporate governance, transparency and the creation of shareholder value."

Proxy Access

The Board will amend the Company's Bylaws to provide proxy access rights to our shareholders. This amendment will provide that the Company is to include nominees in its proxy materials for up to 20% of the Board proposed by a shareholder, or a group of up to 20 shareholders, who have continuously owned 3% or more of the Company's common...


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