Institutional Shareholder Services (ISS), Leading Proxy Advisor, Recommends RiceBran Technologies Shareholders Vote “FOR”...
June 17 2016 - 2:20PM
Business Wire
RiceBran Urges Shareholders to Protect the
Value of Their Investment by Voting on the WHITE Proxy Card “FOR” the Company’s Highly Qualified and
Experienced Director Nominees
RiceBran Technologies (NASDAQ: RIBT and RIBTW) (the “Company”),
a global leader in the production and marketing of value added
products derived from rice bran, today announced that Institutional
Shareholder Services Inc. (“ISS”), the nation’s leading independent
proxy advisory firm, has issued a report recommending that RiceBran
Technologies shareholders vote on the WHITE proxy card
“FOR” the election of ALL the Company’s director
nominees – W. John Short, Marco V. Galante, David Goldman, Baruch
Halpern, Henk W. Hoogenkamp, Robert C. Schweitzer and Peter A. Woog
– at RiceBran Technologies’ Annual Meeting of Shareholders (the
“Annual Meeting”) on June 22, 2016.
Robert C. Schweitzer, Chairman of RiceBran Technologies, said,
“We are pleased ISS supports the reelection of RiceBran
Technologies’ highly-qualified and experienced director nominees.
ISS’ recommendation affirms our strong belief that RiceBran
Technologies has the right Board and leadership in place to
continue to oversee the successful execution of our clear plan to
further drive high performance and long-term profitable growth. Our
efforts to “convert feed to food” are yielding positive results and
has positioned the Company for continued growth in what we believe
to be the highest margin, fastest growing segments of the US food
market: natural, organic and functional foods.”
In its report issued today, ISS* noted that:
- RiceBran’s recent “…financial
performance – in 2015 versus 2014, but particularly in Q1 2016
versus the same period in the prior year – strongly suggests that
the board's strategy is beginning to pay off…”
- “On balance, as the board's strategy
seems to be beginning to demonstrate success, both in driving
growth in the US and in capping further downside risk in
Brazil…”
- “…both the executive team and the
non-executive directors have significant shareholdings…suggesting a
powerful alignment of interests with unaffiliated
shareholders…”
- “…there does not appear to be a
compelling case that change at the board level is warranted.”
*Permission neither sought nor obtained from ISS.
On June 16, 2016, RiceBran Technologies filed an investor
presentation, which was presented to ISS, with the U.S. Securities
and Exchange Commission (“SEC”) highlighting the strategic actions
the Company’s Board of Directors and management team have taken to
over the past several years to enhance shareholder value.
Specifically, the presentation outlines the Company’s recent strong
performance as a result of focused and disciplined execution of its
strategic plan. Furthermore, the presentation illustrates the
strength and depth of RiceBran Technologies’ Board of Directors,
including it proven executive, financial and industry expertise.
The presentation is available at www.ricebrantech.com and on the
SEC’s website at www.sec.gov.
As the Annual Meeting date is rapidly approaching, RiceBran
Technologies strongly urges shareholders to protect the value in
their investment by voting on the WHITE proxy card
“FOR” the Company’s highly-qualified and experienced
director nominees. RiceBran Technologies also advises shareholders
not return the “gold” card, even to withhold on LF-RB Group’s
nominees.
Please vote the WHITE proxy card TODAY.
If you have any questions or require any assistance with voting
your shares, or if you need additional copies of the proxy
materials, please contact:
Morrow & Co.
470 West Ave
Stamford, CT 06902
ricebran@morrowco.com
Stockholders call toll free:
800-662-5200
Banks and brokers call: 203-658-9400
About RiceBran Technologies
RiceBran Technologies is a packaged functional food, functional
food ingredient, human food ingredient and animal nutrition company
focused on the procurement, bio-refining and marketing of numerous
products derived from traditional and organic rice bran. RiceBran
Technologies has proprietary and patented technology that allows us
to convert rice bran, one of the world's most underutilized food
sources, into a number of highly nutritious packaged functional
foods, functional food ingredients, human food ingredients and
animal nutrition products. Our target markets are retailers, brand
owners, wholesalers and manufacturers of packaged functional foods,
functional food ingredients, human food ingredients and animal
nutrition products, both domestically and internationally. More
information can be found in the Company's filings with the SEC and
by visiting our website at http://www.ricebrantech.com.
Important Additional Information
RiceBran Technologies (“RiceBran”), its directors and certain of
its executive officers are participants in the solicitation of
proxies from RiceBran shareholders in connection with the matters
to be considered at RiceBran’s 2016 Annual Meeting of Shareholders.
In connection with its solicitation of proxies from RiceBran
shareholders, RiceBran filed its definitive proxy statement and
WHITE proxy card with the U.S. Securities and Exchange Commission
(the “SEC”) on April 29, 2016 and supplemented its definitive proxy
statement on May 11, 2016 and June 2, 2016. RICEBRAN SHAREHOLDERS
ARE STRONGLY ENCOURAGED TO READ ANY SUCH PROXY STATEMENT AND
ACCOMPANYING WHITE PROXY CARD AS SOON AS THEY BECOME AVAILABLE AS
THEY WILL CONTAIN IMPORTANT INFORMATION. Information regarding the
ownership of RiceBran’s directors and executive officers in
RiceBran’s stock, restricted stock and options is included in their
SEC filings on Forms 3, 4, and 5, which can be found through
RiceBran’s website (www.ricebrantech.com) in the section “Investor
Relations” or through the SEC’s website at www.sec.gov. Information
can also be found in RiceBran’s other SEC filings, including
RiceBran’s definitive proxy statement for the 2016 Annual Meeting
and its Annual Report on Form 10-K for the fiscal year ended
December 31, 2015. Shareholders will be able to obtain any proxy
statement, any amendments or supplements to the proxy statement and
other documents filed by RiceBran with the SEC for no charge at the
SEC’s website at www.sec.gov. Copies of these documents will also
be available at no charge at RiceBran’s website at
www.ricebrantech.com, by writing to RiceBran Technologies, at 6720
N. Scottsdale Road, Suite 390, Scottsdale, Arizona 85253, Attn:
Investor Relations, or by calling RiceBran’s proxy solicitor,
Morrow & Co., toll-free at 800-662-5200 for shareholders, or
203-658-9400 for banks and brokers.
Forward-Looking Statements
This release includes forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995. While these
statements are made to convey to the public RiceBran’s progress,
business opportunities and growth prospects, readers and listeners
are cautioned that such forward-looking statements represent
management’s opinion. Although management believes that the
expectations reflected in our forward-looking statements are based
on reasonable assumptions, actual results may differ materially
from those described. RiceBran’s operations and business prospects
are always subject to risk and uncertainties. Important factors
that may cause actual results to differ are set forth in RiceBran’s
filings with the SEC. RiceBran undertakes no obligation to update
the results of these forward-looking statements to reflect events
or circumstances after today or to reflect the occurrence of
unanticipated events. This presentation does not constitute an
offer to sell securities including but not limited to within any
jurisdiction in which the sale of such securities would be
unlawful. This presentation does not constitute a solicitation or
offer to sell securities. Such offer and the information set forth
herein have not been reviewed, approved or disapproved, nor has the
accuracy or adequacy of the information set forth herein been
passed upon, by the SEC or any state securities administrator. Any
representation to the contrary is a criminal offense. An investment
in the securities offered by RiceBran is speculative and involves a
high degree of risk. Investment in the securities offered hereby is
suitable only for persons of substantial financial means who can
afford a total loss of their investment. RiceBran is a reporting
company pursuant to the Securities Exchange Act of 1934, as
amended, and makes periodic filings with the SEC at the SEC’s
website at www.sec.gov. Prospective investors are urged to read
these documents and any other relevant documents to be filed by
RiceBran with the SEC when they become available because they
contain and will contain important information.
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version on businesswire.com: http://www.businesswire.com/news/home/20160617005803/en/
Investors:Ascendant Partners, LLCFred Sommer,
732-410-9810fred@ascendantpartnersllc.comorMedia:ICRPhil
Denning, 646-277-1258Phil.Denning@icrinc.comorJason Chudoba,
646-277-1249Jason.Chudoba@icrinc.com
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