Sententia Receives Overwhelming Shareholder Support for Schmitt Industries

Date : 10/19/2018 @ 1:30PM
Source : PR Newswire (US)
Stock : Schmitt Industries, Inc. (SMIT)
Quote : 2.24  0.0 (0.00%) @ 12:33PM

Sententia Receives Overwhelming Shareholder Support for Schmitt Industries

Schmitt Industries, Inc. (NASDAQ:SMIT)
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NEW YORK, Oct. 19, 2018 /PRNewswire/ -- Sententia Capital Management, LLC and its affiliates (collectively, "SENTENTIA" or "we"), the beneficial owners of approximately 8.8% of the outstanding shares of common stock of Schmitt Industries, Inc. (NASDAQ: SMIT) ("Schmitt" or the "Company"), announced today that both of Sententia's nominees, Andrew P. Hines and Michael R. Zapata, were elected to the Schmitt Board of Directors according to the certified proxy voting results from Schmitt's 2018 Annual Meeting of Shareholders.

Michael R. Zapata, founding manager of Sententia, commented, "We are grateful to our fellow Schmitt shareholders for their consideration of the issues and pleased that they have voiced support to bring independence to the boardroom and a focus on unlocking shareholder value. Andy and I look forward to working constructively and collaboratively with our fellow Schmitt directors and the executive team as we work to maximize shareholder value."

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

Copyright 2018 PR Newswire

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