Historical Stock Chart
1 Year : From Dec 2018 to Dec 2019
The Trustees of Mesabi Trust (NYSE: MSB) today re-affirmed their
unanimous support for successor trustee nominee Robin M. Radke to be
appointed by unitholders at its adjourned Special Meeting of Trust
Certificate Holders, which is scheduled for 11:00 A.M. Central Time, on
Wednesday, January 23, 2019 at the offices of Fox Rothschild LLP, 222
South Ninth Street, Suite 2000, Minneapolis, Minnesota 55402 (the
The Trustees of Mesabi Trust are continuing to solicit proxies from its
Trust Certificate Holders requesting that holders vote “FOR” approval of
Proposal 1 for the appointment of Robin M. Radke as an individual
trustee of Mesabi Trust to succeed Richard G. Lareau, who is retiring.
Key factors noted by the Trustees are Ms. Radke’s understanding of the
intricacies of Mesabi Trust from a legal, compliance, internal controls,
corporate, governance and trust law perspective, which she gained from
her eleven years of experience in working on a broad range of projects
for the Trust.
Based on a thorough diligence process reviewing biographical information
and professional resumes of other potentially interested candidates,
including conducting interviews of the top candidates, ensuring no
conflict of interest exists and identifying the skills, experience and
diversity profile the Trustees were seeking to address in a candidate,
the Trustees unanimously concluded that Ms. Radke is the most qualified
candidate to serve as Trustee of Mesabi Trust.
The Trustees also selected Ms. Radke recognizing that evolving
regulatory and corporate governance standards are beginning to establish
guidelines for the promotion of women on corporate boards and agree that
a diverse and inclusive board promotes a broader range of viewpoints and
Some unitholders have communicated their opinion that the Trust needs an
executive with industry experience, yet this ignores that the Trustees
already include two individuals with extensive iron ore industry
experience and deep understanding of iron ore mining and production
operations, including many years working with Cleveland-Cliffs, Inc. and
Northshore Mining Company, which the Trustees have seen as a positive
for the Trust.
As previously disclosed, the Trustees also emphasize that two leading
independent proxy advisory firms, Institutional Shareholder Services and
Glass, Lewis & Co.1 have also recommended that Mesabi
Trust unitholders vote “FOR” Proposal 1 for the appointment of Robin M.
The Trustees of Mesabi Trust remind unitholders that every vote is
important and urge all unitholders to vote “FOR” the
adjourned Special Meeting proposals TODAY.
Proposal 1 is described in further detail in the proxy statement filed
with the Securities and Exchange Commission on November 9, 2018. No
changes have been made in the proposals to be voted on by unitholders at
the Special Meeting. The Trust's proxy statement and any other materials
filed by the Trust with the SEC remain unchanged and can be obtained
free of charge at the SEC's website at www.sec.gov.
Only holders of record of units of beneficial interest of Mesabi Trust
at the close of business on November 9, 2018, the record date, are
entitled to notice of, and to vote at, the adjourned Special Meeting. If
a unitholder has previously submitted its proxy card and does not wish
to change its vote, no further action is required by such holder.
The Trustees encourage all unitholders that have not yet voted to vote
their units by 11:59 p.m., Eastern Time, on Tuesday, January 22, 2019.
If you have not voted, or have misplaced your proxy materials or are
uncertain if you have voted all the shares you are entitled to vote,
please see "How You Can Vote" below. Every single vote counts.
(1) Permission to reference these reports was neither sought nor
How You Can Vote
If your Units are registered in your name, you may vote your Units
in person at the Special Meeting by one of the following methods:
Use the Internet to transmit your voting instructions and for
electronic delivery of information. Vote by 11:59 P.M. ET on
January 22, 2019. Have your proxy card in hand when you access the
web site and follow the instructions to obtain your records and to
create an electronic voting instruction form.
Use any touch-tone telephone to transmit your voting instructions.
Vote by 11:59 P.M. ET on January 22, 2019. Have your proxy card in
hand when you call and then follow the instructions.
Mark, sign and date your proxy card and return it in the
postage-paid envelope we have provided or return it to Vote
Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.
If your Units are held in "street name," you may receive a separate
voting instruction form with this proxy statement or you may need to
contact your broker, bank or other nominee to determine whether you will
be able to vote electronically using the Internet, telephone or mobile
THE TRUSTEES UNANIMOUSLY RECOMMEND THAT TRUST CERTIFICATE HOLDERS
VOTE “FOR” THE APPOINTMENT OF MS. RADKE AS
AN INDIVIDUAL TRUSTEE OF THE TRUST. EVERY VOTE IS IMPORTANT.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
This press release contains certain forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995. These
statements are based on Mesabi Trust’s current expectations and involve
risks and uncertainties, which may cause results to differ materially
from those set forth in the statements. The forward-looking statements
may include statements regarding actions to be taken by the Trustees of
Mesabi Trust, as well as the Trust’s expectations for the outcome of the
votes at the upcoming Special Meeting. Mesabi Trust undertakes no
obligation to publicly update forward-looking statements, whether as a
result of new information, future events or otherwise. Forward-looking
statements should be evaluated together with the many uncertainties that
affect Mesabi Trust, particularly those mentioned in the risk factors in
Item 1A of our annual report on Form 10-K for the fiscal year ended
January 31, 2018 and in our periodic reports on Form 10-Q.
Important Additional Information and Where You Can Find It
The Trustees may be deemed to be participants in a solicitation of
proxies in connection with the matters to be considered at the Special
Meeting. Information regarding the names of Mesabi Trust’s Trustees and
their respective interests in the Trust is set forth in the Trust’s
definitive Proxy Statement for the Special Meeting, filed with the SEC
on November 9, 2018 and other reports filed by the Trust. These
documents are available free of charge at the SEC’s website at www.sec.gov
and on the website of Mesabi Trust at www.mesabi-trust.com.
THE TRUSTEES URGE MESABI TRUST UNITHOLDERS TO CAREFULLY READ THE
DEFINITIVE PROXY STATEMENT ACCOMPANYING THE WHITE PROXY CARDS AND ANY
OTHER RELEVANT DOCUMENTS THAT THE TRUST MAY FILE WITH THE SEC, BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION. Copies of the definitive
proxy statement, any solicitation materials and any other documents
filed by Mesabi Trust with the SEC are available free of charge at the
SEC’s website at www.sec.gov.
These documents will also be made available free of charge by contacting
the Trust’s proxy solicitor, Georgeson LLC, toll free at 1-866-628-6079.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190118005447/en/
Mesabi Trust SHR Unit:Deutsche Bank Trust Company Americas904-271-2520
Solicitation Agent:Georgeson LLC