Leading Proxy Advisory Firm ISS Recommends Synalloy Shareholders Vote on Management’s BLUE Proxy Card
ISS Recommends that Shareholders Vote “FOR” Director Nominees
Synalloy Applauds ISS’s Support for Synalloy’s CEO and the Majority of the Company’s Nominees
In its revised recommendation issued on
In its positive recommendation to shareholders to vote on management’s BLUE proxy card, ISS advised:
“Shareholders are now recommended to cast their votes on the management card to withhold from the three resigning directors and vote for the five remaining incumbent directors.”
In its updated report, ISS noted Synalloy’s disclosure in its Form 8-K filed with the
Commenting on ISS’ positive recommendation,
“ISS’s recommendation reinforces our strong belief that
If shareholders vote their shares in accordance with ISS’s and Synalloy’s recommendation, they will support the appointment of a refreshed Board comprised of five incumbent directors and three new ones, chosen by Privet and UPG (the “Blue Card Compromise”).
Accordingly,
The Choice is Clear – Please Sign, Date and Promptly Return the BLUE Proxy Card
The Board urges you to carefully consider the information contained in the Company’s proxy materials in connection with the Annual Meeting and cast your vote on the BLUE proxy card.
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DO NOT return the white proxy card sent to you by the
Dissident Group -
DO NOT vote by responding to the email solicitations sent to you by the
Dissident Group
Should you have any questions, please contact the Company’s proxy solicitor
MORROW
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Shareholders Call Toll Free: (800) 662-5200 |
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E-mail: SYNL@morrowsodali.com |
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About
Forward-Looking Statements
This press release may include “forward-looking statements” within the meaning of the federal securities laws. All statements that are not historical facts are “forward-looking statements.” The words “estimate,” “project,” “intend,” “expect,” “believe,” “should,” “anticipate,” “hope,” “optimistic,” “plan,” “outlook,” “should,” “could,” “may” and similar expressions identify forward-looking statements. The forward-looking statements are subject to certain risks and uncertainties, including without limitation those identified below, which could cause actual results to differ materially from historical results or those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements. The following factors could cause actual results to differ materially from historical results or those anticipated: adverse economic conditions; the impact of competitive products and pricing; product demand and acceptance risks; raw material and other increased costs; raw materials availability; employee relations; ability to maintain workforce by hiring trained employees; labor efficiencies; customer delays or difficulties in the production of products; new fracking regulations; a prolonged decrease in nickel and oil prices; unforeseen delays in completing the integrations of acquisitions; risks associated with mergers, acquisitions, dispositions and other expansion activities; financial stability of our customers; environmental issues; negative or unexpected results from tax law changes, unavailability of debt financing on acceptable terms and exposure to increased market interest rate risk; inability to comply with covenants and ratios required by our debt financing arrangements; ability to weather an economic downturn; loss of consumer or investor confidence, risks relating to the impact and spread of COVID-19 and other risks detailed from time-to-time in the Company’s
Important Other Information
The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company’s shareholders in connection with the Annual Meeting. The Company has filed a definitive proxy statement and BLUE proxy card with the
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(646) 277-1258
Phil.Denning@icrinc.com
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