NEW YORK, Dec. 3, 2019 /PRNewswire/ -- The Stilwell Group
("Stilwell"), the largest stockholder
of Wheeler Real Estate Investment Trust, Inc. (the "Company" or
"Wheeler")(NASDAQ: WHLR), today announced
that Institutional Shareholder Services Inc. ("ISS"), one of
the leading independent proxy voting advisory firms, has
recommended that Wheeler stockholders vote on Stilwell's
GREEN proxy card FOR the election of two of Stilwell's
highly-qualified nominees, Joseph Stilwell and
Paula Poskon, at the Company's
upcoming 2019 annual meeting of stockholders. ISS also recommended
that stockholders vote AGAINST the Company's say on pay proposal
and omnibus stock plan.
Megan Parisi of The Stilwell
Group stated, "We appreciate the strong support we have received
from our fellow stockholders to date. We look forward to removing
Wheeler's legacy directors and beginning the process of rebuilding
value for its common stockholders if our nominees are elected to
the Board at the upcoming Annual Meeting."
In recommending that stockholders vote on Stilwell's GREEN proxy
card for the election of two of Stilwell's highly-qualified
nominees, ISS stated the following:1
"The dissident may not have all the answers, but it appears to
be asking the right questions. All three targeted directors have
served for at least four years, overseeing a period of tremendous
value destruction. On balance, the dissident has presented a
compelling case that additional change is needed on the board,
which could benefit from fresh perspectives, especially from
another shareholder with a significant, direct financial
interest."
VOTE THE GREEN PROXY CARD TODAY TO ELECT ALL
THREE OF OUR HIGHLY-QUALIFIED NOMINEES — JOSEPH STILWELL, PAULA POSKON AND KERRY
CAMPBELL — TO THE BOARD AT THE
COMPANY'S UPCOMING ANNUAL MEETING
If you have already voted Wheeler's white proxy card, a later
dated GREEN proxy card will revoke your previously cast
vote.
If you have any questions, require assistance
in voting your GREEN proxy card,
or need additional copies of our proxy materials, please
contact us or Okapi Partners at the phone numbers or
email listed below.
Okapi Partners LLC
1212 Avenue of the Americas,
24th Floor
New York, New York 10036
+ 1 (212) 297-0720 (Main)
+ 1 (877) 869-0171 (Toll-Free)
Email: info@okapipartners.com
1 Permission to quote from ISS' report was neither
sought nor obtained. Emphasis added.
SOURCE The Stilwell Group