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
ADDITIONAL INFORMATION
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.
Investor Contact
Investor Relations
212.851.3488
investorrelations@sententiacapital.com
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SOURCE Sententia Capital Management, LLC