Schmitt Industries, Inc. (NASDAQ:SMIT)
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2 Months : From Aug 2018 to Oct 2018
NEW YORK, Sept. 17, 2018 /PRNewswire/ -- Sententia Capital Management, LLC and its affiliates (collectively, "SENTENTIA"), the beneficial owners of approximately 8.1% of the outstanding shares of common stock of Schmitt Industries, Inc. ("Schmitt" or the "Company") (NASDAQ: SMIT) and one of the Company's largest shareholders, announced that it has delivered a letter to fellow Schmitt shareholders.
Sententia believes Schmitt is comprised of good businesses, strong brands, an attractive long-term profile, and the ability to generate strong free cash flow. However, these features are hidden under leadership and a Board that Sententia believes continues to lack accountability, transparency and alignment, evident in their recent communications and proxy.
Sententia has a concrete plan to maximize shareholder value and has formally nominated two highly qualified candidates for election to the Board at Schmitt's 2018 annual meeting.
Please click the following link to access the full letter: SENTENTIA LETTER TO FELLOW SCHMITT SHAREHOLDERS
SENTENTIA, together with the other participants in its proxy solicitation, have filed a definitive proxy statement and accompanying BLUE proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit proxies in connection with the Company's 2018 annual meeting of shareholders (the "Annual Meeting"). Shareholders are advised to read the proxy statement and any other documents related to the solicitation of shareholders of the Company in connection with the Annual Meeting because they contain important information. These materials and other materials filed by SENTENTIA with the SEC in connection with the solicitation of proxies are available at no charge on the SEC's website at http://www.sec.gov. The definitive proxy statement and other relevant documents filed by SENTENTIA with the SEC also are available, without charge, by directing a request to SENTENTIA's proxy solicitor, InvestorCom, at (877) 972-0090 for shareholders and (203) 972-9300 for banks and brokers.
ABOUT SENTENTIA CAPITAL: Sententia is a value investing based capital management firm that runs a concentrated, deep value portfolio.
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SOURCE Sententia Capital Management, LLC