NTN Buzztime activist sends demand letter to the company's Board of Directors to inspect NTN's books & records for a list of ...

Date : 05/01/2018 @ 10:09AM
Source : PR Newswire (US)
Stock : Ntn Buzztime, Inc. (NTN)
Quote : 4.22  0.06 (1.44%) @ 4:00PM

NTN Buzztime activist sends demand letter to the company's Board of Directors to inspect NTN's books & records for a list of ...

Ntn Buzztime, Inc. (AMEX:NTN)
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1 Month : From Apr 2018 to May 2018

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NEW YORK, May 1, 2018 /PRNewswire/ -- This is my third update regarding NTN Buzztime's (NYSE-Amex: NTN) upcoming 2018 shareholder meeting.  Unfortunately, the Board continues to ignore its fiduciary duty to shareholders, even after 10 years of poor financial results, delayed product rollouts, and an 83% decline in its stock price.  While I've extended numerous olive branches to help NTN over the years, the company's Board continues to protect the status quo and has ultimately chosen to waste NTN's resources on a proxy fight.

Reviewing last year's shareholder vote, it is clear the market is sending a strong message to the Board as existing members only received roughly 50% support, and that was when they went unchallenged:

NTN - 2017 Results of shareholder votes for BOD members


Name

Votes For

Votes For (%)

Witheld

Broker Non-Votes

Witheld/Non Vote

Jeff Berg

1,013,109

52%

237,084

703,777

48%

Ram Krishnan

1,033,578

53%

216,615

703,777

47%

Steve Mitgang

982,917

50%

267,276

703,777

50%

Paul Yanover

1,035,478

53%

214,715

703,777

47%

Finally, as NTN works to comply with my demand letter, I would like to thank the numerous shareholders and other stakeholders who have reached out to me to discuss their concerns & interests regarding the success of NTN Buzztime. 

Sean Gordon as a proposed Board member
a)    Brings 20+ years of sales skills & business building
b)    Driven by results, not excuses
c)    Thinks outside the box & takes calculated risks
d)    Passionate & focused on moving quickly

San Diego Tribune article - 4/24/18
http://www.sandiegouniontribune.com/business/technology/sd-fi-ntn-buffalowildwings-20180424-story.html

Follow up Board letter – 3/26/18
https://www.prnewswire.com/news-releases/ntn-buzztime-activist-nyse-amex-ntn-determined-to-bring-about-positive-change-sends-follow-up-letter-to-the-board-of-directors-300619356.html

Initial Board letter – 1/24/18: 
https://www.sec.gov/Archives/edgar/data/748592/000147793218000647/ntn_ex991.htm

Sean Gordon
Email:  srg4investing@gmail.com

Cision View original content:http://www.prnewswire.com/news-releases/ntn-buzztime-activist-sends-demand-letter-to-the-companys-board-of-directors-to-inspect-ntns-books--records-for-a-list-of-the-companys-shareholders-300640083.html

SOURCE Sean Gordon

Copyright 2018 PR Newswire

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